Klaviyo, Inc. (NYSE:KVYO) Shares Bought by Barclays PLC

Barclays PLC lifted its position in shares of Klaviyo, Inc. (NYSE:KVYO) by 1,202.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,825 shares of the company’s stock after purchasing an additional 11,840 shares during the period. Barclays PLC’s holdings in Klaviyo were worth $453,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in KVYO. Advisors Asset Management Inc. increased its holdings in 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 purchasing an additional 808 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of Klaviyo during the third quarter worth approximately $53,000. West Tower Group LLC bought a new stake in shares of Klaviyo in the third quarter worth $177,000. Victory Capital Management Inc. acquired a new stake in Klaviyo in the third quarter valued at $208,000. Finally, William Marsh Rice University acquired a new stake in Klaviyo in the third quarter valued at $245,000. 45.43% of the stock is currently owned by hedge funds and other institutional investors.

Klaviyo Stock Performance

NYSE:KVYO opened at $40.15 on Friday. The stock has a market cap of $10.83 billion, a price-to-earnings ratio of -223.05 and a beta of 0.57. Klaviyo, Inc. has a 1 year low of $21.26 and a 1 year high of $44.77. The business has a fifty day moving average of $39.49 and a 200-day moving average of $34.30.

Klaviyo (NYSE:KVYO) last announced its earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $235.09 million during the quarter, compared to analyst estimates of $226.33 million. During the same quarter in the prior year, the firm posted ($1.24) EPS. Klaviyo’s revenue was up 33.7% compared to the same quarter last year. On average, equities research analysts predict that Klaviyo, Inc. will post 0.03 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on KVYO. KeyCorp boosted their target price on shares of Klaviyo from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Stifel Nicolaus began coverage on Klaviyo in a research note on Tuesday, October 22nd. They set a “buy” rating and a $45.00 price objective on the stock. William Blair reaffirmed an “outperform” rating on shares of Klaviyo in a report on Thursday, December 19th. Canaccord Genuity Group boosted their price target on Klaviyo from $32.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Robert W. Baird raised their price objective on Klaviyo from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Klaviyo presently has an average rating of “Moderate Buy” and a consensus price target of $42.29.

Insider Activity

In other news, CFO Amanda Whalen sold 15,000 shares of Klaviyo stock in a transaction that occurred 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 owns 395,616 shares of the company’s stock, valued at $13,672,488.96. The trade was a 3.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Stephen Eric Rowland sold 4,536 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.56, for a total transaction of $156,764.16. Following the completion of the sale, the president now owns 186,785 shares in the company, valued at $6,455,289.60. The trade was a 2.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 159,072 shares of company stock worth $6,090,767 over the last three months. 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.