Advisors Asset Management Inc. Purchases 808 Shares of Klaviyo, Inc. (NYSE:KVYO)

Advisors Asset Management Inc. raised its position in Klaviyo, Inc. (NYSE:KVYO) by 145.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,363 shares of the company’s stock after acquiring an additional 808 shares during the period. Advisors Asset Management Inc.’s holdings in Klaviyo were worth $48,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in KVYO. nVerses Capital LLC purchased a new stake in shares of Klaviyo during the 3rd quarter valued at approximately $53,000. Victory Capital Management Inc. bought a new stake in Klaviyo during the 3rd quarter valued at $208,000. SG Americas Securities LLC purchased a new stake in shares of Klaviyo during the second quarter worth $236,000. William Marsh Rice University bought a new position in shares of Klaviyo in the third quarter worth $245,000. Finally, Creative Planning bought a new position in shares of Klaviyo in the third quarter worth $254,000. Hedge funds and other institutional investors own 45.43% of the company’s stock.

Klaviyo Stock Performance

KVYO stock opened at $37.14 on Friday. The company has a market capitalization of $10.01 billion, a PE ratio of -206.32 and a beta of 1.13. Klaviyo, Inc. has a one year low of $21.26 and a one year high of $41.00. The company’s 50 day moving average price is $36.62 and its two-hundred day moving average price is $30.08.

Klaviyo (NYSE:KVYO) last issued its earnings results on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. Klaviyo had a negative net margin of 5.23% and a positive return on equity of 0.86%. The company had revenue of $235.09 million for the quarter, compared to analysts’ expectations of $226.33 million. During the same quarter last year, the company earned ($1.24) EPS. The firm’s revenue was up 33.7% compared to the same quarter last year. On average, research analysts predict that Klaviyo, Inc. will post 0.03 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Macquarie reiterated a “neutral” rating and set a $36.00 price objective on shares of Klaviyo in a research note on Friday, November 8th. Benchmark lowered their price target on shares of Klaviyo from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Stifel Nicolaus started coverage on shares of Klaviyo in a research report on Tuesday, October 22nd. They issued a “buy” rating and a $45.00 price objective for the company. Piper Sandler upped their target price on shares of Klaviyo from $34.00 to $45.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Finally, Robert W. Baird increased their price objective on Klaviyo from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $39.00.

Insider Activity

In related news, CFO Amanda Whalen sold 15,000 shares of Klaviyo stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.56, for a total value of $518,400.00. Following the transaction, the chief financial officer now directly owns 395,616 shares of the company’s stock, valued at $13,672,488.96. The trade was a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Allen Chaves sold 130,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $31.85, for a total transaction of $4,140,500.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 352,969 shares of company stock valued at $11,447,138. Insiders own 53.24% of the company’s stock.

Klaviyo Company Profile

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.