Glynn Capital Management LLC Raises Stock Holdings in Klaviyo, Inc. (NYSE:KVYO)

Glynn Capital Management LLC grew its stake in Klaviyo, Inc. (NYSE:KVYO) by 18.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 291,155 shares of the company’s stock after buying an additional 45,406 shares during the period. Klaviyo comprises approximately 1.5% of Glynn Capital Management LLC’s holdings, making the stock its 19th biggest position. Glynn Capital Management LLC’s holdings in Klaviyo were worth $8,088,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pursue Wealth Partners LLC bought a new position in shares of Klaviyo in the fourth quarter worth about $1,753,000. New York State Common Retirement Fund boosted its stake in shares of Klaviyo by 191.0% in the fourth quarter. New York State Common Retirement Fund now owns 5,485 shares of the company’s stock worth $152,000 after acquiring an additional 3,600 shares during the period. Federated Hermes Inc. bought a new position in shares of Klaviyo in the fourth quarter worth about $15,981,000. Rakuten Securities Inc. bought a new position in shares of Klaviyo in the fourth quarter worth about $344,000. Finally, Salem Investment Counselors Inc. bought a new position in shares of Klaviyo in the fourth quarter worth about $25,000. Hedge funds and other institutional investors own 45.43% of the company’s stock.

Klaviyo Stock Performance

Shares of NYSE KVYO traded up $0.43 during midday trading on Wednesday, reaching $22.83. 162,498 shares of the company were exchanged, compared to its average volume of 1,106,793. Klaviyo, Inc. has a 1 year low of $22.12 and a 1 year high of $39.47. The stock has a fifty day simple moving average of $25.11 and a 200 day simple moving average of $27.13.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The business had revenue of $201.62 million during the quarter, compared to analysts’ expectations of $196.02 million. On average, equities research analysts expect that Klaviyo, Inc. will post -0.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on KVYO. Cantor Fitzgerald assumed coverage on Klaviyo in a research note on Tuesday, April 16th. They issued an “overweight” rating and a $31.00 price objective for the company. KeyCorp started coverage on Klaviyo in a report on Thursday, March 21st. They issued a “sector weight” rating on the stock. Morgan Stanley reduced their price target on Klaviyo from $37.00 to $32.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. The Goldman Sachs Group upgraded Klaviyo from a “neutral” rating to a “buy” rating and set a $36.00 price objective on the stock in a report on Monday, February 5th. Finally, Barclays reduced their price objective on Klaviyo from $37.00 to $32.00 and set an “equal weight” rating on the stock in a report on Friday, January 12th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.88.

Insider Buying and Selling

In other Klaviyo news, insider Landon Edmond sold 3,545 shares of the business’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $24.15, for a total value of $85,611.75. Following the completion of the transaction, the insider now directly owns 167,127 shares in the company, valued at approximately $4,036,117.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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.