Raymond James Financial Inc. Acquires New Shares in Klaviyo, Inc. (NYSE:KVYO)

Raymond James Financial Inc. bought a new position in shares of Klaviyo, Inc. (NYSE:KVYO) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 294,055 shares of the company’s stock, valued at approximately $12,127,000.

Other institutional investors also recently bought and sold shares of the company. Advisors Asset Management Inc. boosted its stake in shares of Klaviyo by 145.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock worth $48,000 after acquiring an additional 808 shares in the last quarter. West Tower Group LLC acquired a new stake in Klaviyo in the 3rd quarter worth approximately $177,000. SBI Securities Co. Ltd. bought a new stake in Klaviyo during the fourth quarter worth approximately $196,000. US Bancorp DE acquired a new position in Klaviyo during the fourth quarter valued at approximately $199,000. Finally, Keybank National Association OH bought a new position in shares of Klaviyo in the fourth quarter valued at approximately $203,000. 45.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

KVYO has been the topic of several recent analyst reports. Cantor Fitzgerald lifted their target price on shares of Klaviyo from $47.00 to $54.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Morgan Stanley lifted their price objective on Klaviyo from $47.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 20th. Citigroup increased their target price on Klaviyo from $39.00 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, February 11th. KeyCorp lifted their price target on Klaviyo from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Finally, Wells Fargo & Company reduced their price objective on Klaviyo from $48.00 to $45.00 and set an “equal weight” rating for the company in a research report on Thursday, February 20th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Klaviyo has a consensus rating of “Moderate Buy” and a consensus target price of $49.11.

Insider Buying and Selling

In other news, major shareholder Summit Partners L. P sold 2,000,000 shares of the company’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $32.44, for a total transaction of $64,880,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Amanda Whalen sold 15,000 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $33.54, for a total value of $503,100.00. Following the transaction, the chief financial officer now owns 349,623 shares of the company’s stock, valued at approximately $11,726,355.42. The trade was a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,126,246 shares of company stock valued at $69,799,958. 53.24% of the stock is owned by corporate insiders.

Klaviyo Stock Up 2.0 %

Shares of KVYO stock opened at $32.81 on Thursday. Klaviyo, Inc. has a 12-month low of $21.26 and a 12-month high of $49.55. The firm has a fifty day moving average of $41.52 and a 200-day moving average of $38.68. The firm has a market capitalization of $8.96 billion, a price-to-earnings ratio of -182.25 and a beta of 0.86.

Klaviyo (NYSE:KVYO) last posted its earnings results on Wednesday, February 19th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.12). The business had revenue of $270.16 million during the quarter, compared to analyst estimates of $257.24 million. Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. Research analysts expect that Klaviyo, Inc. will post 0.04 earnings per share for the current year.

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.