Swiss National Bank Grows Stock Holdings in Klaviyo, Inc. $KVYO

Swiss National Bank raised its holdings in shares of Klaviyo, Inc. (NYSE:KVYO) by 29.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 181,600 shares of the company’s stock after purchasing an additional 41,800 shares during the quarter. Swiss National Bank owned 0.06% of Klaviyo worth $6,098,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in KVYO. CWM LLC grew its position in Klaviyo by 227.5% in the first quarter. CWM LLC now owns 930 shares of the company’s stock worth $28,000 after acquiring an additional 646 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Klaviyo in the 2nd quarter valued at approximately $31,000. First Horizon Advisors Inc. purchased a new position in shares of Klaviyo in the 2nd quarter worth approximately $37,000. State of Wyoming bought a new position in shares of Klaviyo during the 1st quarter valued at approximately $42,000. Finally, Caitong International Asset Management Co. Ltd raised its holdings in Klaviyo by 217.9% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,421 shares of the company’s stock valued at $43,000 after buying an additional 974 shares during the period. 45.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on KVYO shares. Piper Sandler reissued an “overweight” rating and issued a $45.00 target price (down previously from $50.00) on shares of Klaviyo in a research note on Thursday, November 6th. Citigroup upgraded shares of Klaviyo from a “neutral” rating to a “buy” rating and upped their price target for the company from $40.00 to $50.00 in a report on Thursday, August 7th. TD Cowen raised their price objective on shares of Klaviyo from $45.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Benchmark reaffirmed a “buy” rating on shares of Klaviyo in a research note on Tuesday, November 4th. Finally, Jefferies Financial Group upgraded Klaviyo to a “strong-buy” rating in a report on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Klaviyo has a consensus rating of “Moderate Buy” and an average target price of $42.90.

Klaviyo Stock Down 1.3%

NYSE KVYO opened at $28.18 on Tuesday. Klaviyo, Inc. has a 52 week low of $23.44 and a 52 week high of $49.55. The company has a 50 day moving average price of $27.35 and a 200 day moving average price of $30.90. The firm has a market cap of $8.51 billion, a PE ratio of -117.41 and a beta of 1.18.

Klaviyo (NYSE:KVYO) last released its quarterly earnings results on Thursday, September 25th. The company reported $0.16 earnings per share (EPS) for the quarter. Klaviyo had a negative net margin of 5.70% and a negative return on equity of 1.00%. The business had revenue of $293.12 million for the quarter. On average, equities research analysts anticipate that Klaviyo, Inc. will post 0.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Ed Hallen sold 89,748 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $31.71, for a total transaction of $2,845,909.08. Following the sale, the director owned 177,776 shares in the company, valued at approximately $5,637,276.96. The trade was a 33.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Summit Partners L. P sold 4,000,000 shares of the company’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $31.87, for a total transaction of $127,480,000.00. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 5,602,899 shares of company stock worth $175,185,919 in the last ninety days. 53.24% of the stock is owned by insiders.

Klaviyo 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.