Claro Advisors LLC Has $43.72 Million Position in Klaviyo, Inc. (NYSE:KVYO)

Claro Advisors LLC reduced its stake in Klaviyo, Inc. (NYSE:KVYO) by 3.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,235,793 shares of the company’s stock after selling 44,242 shares during the quarter. Klaviyo accounts for 5.6% of Claro Advisors LLC’s portfolio, making the stock its largest position. Claro Advisors LLC’s holdings in Klaviyo were worth $43,722,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Swiss National Bank acquired a new stake in Klaviyo in the 1st quarter valued at approximately $1,776,000. Blair William & Co. IL raised its holdings in shares of Klaviyo by 1,234.0% in the first quarter. Blair William & Co. IL now owns 175,531 shares of the company’s stock valued at $4,473,000 after purchasing an additional 162,373 shares during the last quarter. Clearbridge Investments LLC lifted its position in shares of Klaviyo by 1.5% in the first quarter. Clearbridge Investments LLC now owns 2,205,684 shares of the company’s stock worth $56,201,000 after purchasing an additional 31,587 shares in the last quarter. EntryPoint Capital LLC acquired a new position in Klaviyo during the first quarter worth $71,000. Finally, SVB Wealth LLC acquired a new stake in Klaviyo in the 1st quarter valued at $299,000. 45.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on KVYO. Benchmark reduced their price objective on shares of Klaviyo from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Wells Fargo & Company reissued a “buy” rating on shares of Klaviyo in a research report on Friday, October 18th. Cantor Fitzgerald upped their price objective on Klaviyo from $33.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Barclays raised their target price on shares of Klaviyo from $32.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Finally, Piper Sandler upped their price target on shares of Klaviyo from $34.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $39.00.

Klaviyo Stock Down 4.8 %

Shares of KVYO stock opened at $35.16 on Friday. Klaviyo, Inc. has a 52 week low of $21.26 and a 52 week high of $41.00. The company has a 50-day simple moving average of $35.77 and a 200 day simple moving average of $29.16.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. The company had revenue of $235.09 million during the quarter, compared to analysts’ expectations of $226.33 million. Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. The business’s revenue was up 33.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.24) earnings per share. Equities research analysts predict that Klaviyo, Inc. will post 0.03 earnings per share for the current year.

Insider Activity at Klaviyo

In other news, insider Landon Edmond sold 21,764 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $32.28, for a total transaction of $702,541.92. Following the transaction, the insider now directly owns 245,743 shares of the company’s stock, valued at approximately $7,932,584.04. This trade represents a 8.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Summit Partners L. P sold 82,499 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $31.76, for a total value of $2,620,168.24. The disclosure for this sale can be found here. Insiders sold 398,996 shares of company stock worth $12,753,416 in the last ninety days. 53.24% of the stock is owned by company insiders.

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.