Norges Bank Acquires Shares of 610,994 Klaviyo, Inc. (NYSE:KVYO)

Norges Bank bought a new position in Klaviyo, Inc. (NYSE:KVYO) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 610,994 shares of the company’s stock, valued at approximately $25,197,000.

A number of other institutional investors have also made changes to their positions in KVYO. SBI Securities Co. Ltd. acquired a new position in Klaviyo in the fourth quarter worth $196,000. US Bancorp DE acquired a new position in shares of Klaviyo in the 4th quarter valued at about $199,000. Keybank National Association OH bought a new stake in shares of Klaviyo during the 4th quarter valued at about $203,000. Bank Julius Baer & Co. Ltd Zurich raised its stake in Klaviyo by 8.0% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,836 shares of the company’s stock worth $220,000 after acquiring an additional 359 shares during the period. Finally, WINTON GROUP Ltd bought a new position in Klaviyo in the fourth quarter worth about $241,000. 45.43% of the stock is currently owned by institutional investors.

Klaviyo Stock Down 7.8 %

Shares of KVYO stock opened at $25.71 on Monday. The stock has a 50-day simple moving average of $39.26 and a 200 day simple moving average of $38.76. The stock has a market capitalization of $7.02 billion, a P/E ratio of -142.85 and a beta of 1.39. Klaviyo, Inc. has a fifty-two week low of $21.26 and a fifty-two week high of $49.55.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings data on Wednesday, February 19th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.12). Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. The business had revenue of $270.16 million for the quarter, compared to the consensus estimate of $257.24 million. On average, sell-side analysts anticipate that Klaviyo, Inc. will post 0.04 earnings per share for the current year.

Wall Street Analyst Weigh In

KVYO has been the subject of several recent research reports. Mizuho upped their target price on Klaviyo from $42.00 to $52.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. William Blair restated an “outperform” rating on shares of Klaviyo in a research note on Thursday, February 20th. KeyCorp raised their target price on Klaviyo from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Morgan Stanley upped their price target on shares of Klaviyo from $47.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. Finally, Wells Fargo & Company cut their price objective on shares of Klaviyo from $48.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 20th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $49.89.

Insider Buying and Selling

In other Klaviyo news, President Stephen Eric Rowland sold 4,536 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $40.04, for a total transaction of $181,621.44. Following the completion of the sale, the president now directly owns 260,403 shares of the company’s stock, valued at approximately $10,426,536.12. This represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Landon Edmond sold 40,000 shares of Klaviyo stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $41.80, for a total transaction of $1,672,000.00. Following the completion of the transaction, the insider now directly owns 298,607 shares in the company, valued at approximately $12,481,772.60. This trade represents a 11.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,126,246 shares of company stock worth $69,799,958. Corporate insiders own 53.24% of the company’s stock.

About Klaviyo

Klaviyo, Inc, a technology company, provides a software-as-a-service platform in the United States, other Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company offers Klaviyo, a cloud-native platform for data store, segmentation engine, campaigns and flows, and messaging infrastructure.