First Trust Advisors LP Raises Stock Position in Klaviyo, Inc. $KVYO

First Trust Advisors LP boosted its holdings in shares of Klaviyo, Inc. (NYSE:KVYO) by 7.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 988,766 shares of the company’s stock after purchasing an additional 72,806 shares during the period. First Trust Advisors LP’s holdings in Klaviyo were worth $33,203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KVYO. Main Management ETF Advisors LLC raised its stake in shares of Klaviyo by 1.7% during the 2nd quarter. Main Management ETF Advisors LLC now owns 22,723 shares of the company’s stock valued at $763,000 after buying an additional 372 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in Klaviyo by 22.7% during the first quarter. Advisors Asset Management Inc. now owns 2,731 shares of the company’s stock worth $83,000 after acquiring an additional 506 shares during the period. Petrus Trust Company LTA raised its position in Klaviyo by 7.0% during the first quarter. Petrus Trust Company LTA now owns 13,439 shares of the company’s stock valued at $407,000 after acquiring an additional 884 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Klaviyo in the second quarter valued at approximately $31,000. Finally, Vanguard Personalized Indexing Management LLC boosted its position in Klaviyo by 12.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 8,843 shares of the company’s stock worth $297,000 after purchasing an additional 958 shares in the last quarter. 45.43% of the stock is owned by institutional investors and hedge funds.

Klaviyo Stock Down 3.4%

KVYO opened at $29.41 on Wednesday. The company has a market cap of $8.88 billion, a PE ratio of -122.54 and a beta of 1.18. Klaviyo, Inc. has a twelve month low of $23.44 and a twelve month high of $49.55. The company has a 50-day moving average price of $27.02 and a 200 day moving average price of $30.71.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings data on Thursday, September 25th. The company reported $0.16 EPS for the quarter. Klaviyo had a negative return on equity of 1.00% and a negative net margin of 5.70%.The company had revenue of $293.12 million during the quarter. As a group, sell-side analysts expect that Klaviyo, Inc. will post 0.04 earnings per share for the current year.

Insider Buying and Selling at Klaviyo

In other Klaviyo news, CEO Andrew Bialecki sold 226,382 shares of the firm’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $32.35, for a total value of $7,323,457.70. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ed Hallen sold 89,748 shares of the company’s stock in a transaction on 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 directly owned 177,776 shares of the company’s stock, valued at $5,637,276.96. The trade was a 33.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 1,522,002 shares of company stock valued at $44,643,335. 53.24% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on KVYO. Macquarie cut their target price on shares of Klaviyo from $37.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, November 11th. Truist Financial set a $45.00 price objective on shares of Klaviyo in a report on Tuesday, November 25th. Needham & Company LLC reissued a “buy” rating and set a $45.00 target price on shares of Klaviyo in a research note on Friday, September 26th. Wall Street Zen cut Klaviyo from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Weiss Ratings assumed coverage on Klaviyo in a research note on Saturday, November 1st. They issued a “sell (d-)” rating for the company. 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 assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $42.90.

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.