Glynn Capital Management LLC Has $23.68 Million Holdings in Klaviyo, Inc. $KVYO

Glynn Capital Management LLC raised its stake in shares of Klaviyo, Inc. (NYSE:KVYO) by 33.0% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 705,258 shares of the company’s stock after acquiring an additional 174,941 shares during the quarter. Klaviyo comprises 5.3% of Glynn Capital Management LLC’s portfolio, making the stock its 7th biggest holding. Glynn Capital Management LLC’s holdings in Klaviyo were worth $23,683,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also modified their holdings of KVYO. Lord Abbett & CO. LLC lifted its position in Klaviyo by 105.6% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,538,220 shares of the company’s stock worth $46,546,000 after acquiring an additional 790,146 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Klaviyo by 9.7% during the 1st quarter. Vanguard Group Inc. now owns 8,467,933 shares of the company’s stock valued at $256,240,000 after acquiring an additional 746,078 shares in the last quarter. 1832 Asset Management L.P. boosted its holdings in Klaviyo by 38.7% during the first quarter. 1832 Asset Management L.P. now owns 2,248,800 shares of the company’s stock valued at $68,049,000 after purchasing an additional 627,500 shares in the last quarter. Trexquant Investment LP boosted its stake in Klaviyo by 472.3% in the 1st quarter. Trexquant Investment LP now owns 371,707 shares of the company’s stock valued at $11,248,000 after buying an additional 306,762 shares in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in shares of Klaviyo by 162.0% in the 1st quarter. Acadian Asset Management LLC now owns 495,729 shares of the company’s stock worth $14,986,000 after purchasing an additional 306,496 shares during the last quarter. 45.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Weiss Ratings initiated coverage on shares of Klaviyo in a report on Saturday, November 1st. They set a “sell (d-)” rating for the company. TD Cowen raised their price target on Klaviyo from $45.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Morgan Stanley upgraded Klaviyo from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $40.00 to $50.00 in a research report on Friday, September 19th. Needham & Company LLC reissued a “buy” rating and issued a $45.00 price objective on shares of Klaviyo in a research note on Friday, September 26th. Finally, Wells Fargo & Company started coverage on Klaviyo in a report on Tuesday, September 30th. They set an “overweight” rating and a $40.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Klaviyo currently has an average rating of “Moderate Buy” and a consensus target price of $42.67.

Insider Buying and Selling at Klaviyo

In other news, CEO Andrew Bialecki sold 226,702 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $31.50, for a total value of $7,141,113.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Summit Partners L. P sold 4,000,000 shares of Klaviyo stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $31.87, for a total transaction of $127,480,000.00. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 5,741,781 shares of company stock worth $180,719,288. Company insiders own 53.24% of the company’s stock.

Klaviyo Stock Performance

Shares of KVYO opened at $29.50 on Wednesday. The business’s fifty day moving average price is $28.64 and its two-hundred day moving average price is $31.38. The firm has a market capitalization of $8.85 billion, a price-to-earnings ratio of -122.91 and a beta of 1.26. Klaviyo, Inc. has a 52 week low of $23.44 and a 52 week high of $49.55.

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

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.