Clearbridge Investments LLC Has $56.20 Million Position in Klaviyo, Inc. (NYSE:KVYO)

Clearbridge Investments LLC raised its holdings in Klaviyo, Inc. (NYSE:KVYO) by 1.5% in the first quarter, Holdings Channel.com reports. The fund owned 2,205,684 shares of the company’s stock after acquiring an additional 31,587 shares during the quarter. Clearbridge Investments LLC’s holdings in Klaviyo were worth $56,201,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its stake in shares of Klaviyo by 243.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,472,140 shares of the company’s stock worth $40,896,000 after acquiring an additional 1,042,902 shares in the last quarter. Vanguard Group Inc. acquired a new stake in Klaviyo in the 3rd quarter worth approximately $49,833,000. Franklin Resources Inc. boosted its position in Klaviyo by 95.4% during the fourth quarter. Franklin Resources Inc. now owns 1,380,515 shares of the company’s stock worth $38,351,000 after purchasing an additional 673,929 shares during the period. Glynn Capital Management LLC grew its holdings in Klaviyo by 291.3% during the first quarter. Glynn Capital Management LLC now owns 1,139,307 shares of the company’s stock valued at $29,030,000 after purchasing an additional 848,152 shares during the last quarter. Finally, Claro Advisors LLC bought a new position in shares of Klaviyo in the first quarter valued at approximately $23,510,000. 45.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Piper Sandler decreased their price objective on shares of Klaviyo from $38.00 to $30.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Canaccord Genuity Group decreased their price target on shares of Klaviyo from $37.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Needham & Company LLC restated a “buy” rating and set a $40.00 target price on shares of Klaviyo in a research note on Friday, May 17th. Morgan Stanley dropped their price target on Klaviyo from $37.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 17th. Finally, Mizuho reduced their price objective on Klaviyo from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $35.25.

Insider Activity at Klaviyo

In other Klaviyo news, Director Jennifer Ceran sold 13,000 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $24.65, for a total transaction of $320,450.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 53.24% of the stock is owned by insiders.

Klaviyo Price Performance

Shares of NYSE:KVYO traded down $0.55 during midday trading on Wednesday, reaching $25.05. 662,576 shares of the company’s stock were exchanged, compared to its average volume of 1,132,779. The company’s 50 day simple moving average is $23.74 and its two-hundred day simple moving average is $24.94. Klaviyo, Inc. has a 12 month low of $21.26 and a 12 month high of $39.47.

Klaviyo (NYSE:KVYO) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. The company had revenue of $210.00 million for the quarter, compared to analyst estimates of $202.08 million. The firm’s revenue for the quarter was up 34.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Klaviyo, Inc. will post -0.11 earnings per share for the current fiscal 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.