Glynn Capital Management LLC Boosts Position in Klaviyo, Inc. (NYSE:KVYO)

Glynn Capital Management LLC raised its stake in Klaviyo, Inc. (NYSE:KVYO) by 19.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,363,768 shares of the company’s stock after buying an additional 224,461 shares during the quarter. Klaviyo makes up about 6.9% of Glynn Capital Management LLC’s investment portfolio, making the stock its 4th largest holding. Glynn Capital Management LLC owned about 0.52% of Klaviyo worth $33,944,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its holdings in Klaviyo by 677.7% during the second quarter. Bank of New York Mellon Corp now owns 2,762,128 shares of the company’s stock worth $68,749,000 after acquiring an additional 2,406,973 shares during the period. Goldman Sachs Group Inc. increased its stake in Klaviyo by 243.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,472,140 shares of the company’s stock worth $40,896,000 after purchasing an additional 1,042,902 shares in the last quarter. Claro Advisors LLC purchased a new position in Klaviyo in the 1st quarter worth about $23,510,000. Norges Bank purchased a new position in Klaviyo in the 4th quarter worth about $21,258,000. Finally, Franklin Resources Inc. increased its stake in Klaviyo by 95.4% in the 4th 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 in the last quarter. 45.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Klaviyo news, CTO Allen Chaves sold 130,000 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $31.59, for a total value of $4,106,700.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CTO Allen Chaves sold 130,000 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $31.59, for a total transaction of $4,106,700.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amanda Whalen sold 60,000 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $30.23, for a total value of $1,813,800.00. Following the transaction, the chief financial officer now directly owns 435,993 shares of the company’s stock, valued at $13,180,068.39. The disclosure for this sale can be found here. Insiders sold 578,044 shares of company stock worth $18,221,288 over the last ninety days. 53.24% of the stock is currently owned by corporate insiders.

Klaviyo Stock Down 1.0 %

Shares of KVYO opened at $30.14 on Thursday. Klaviyo, Inc. has a 12-month low of $21.26 and a 12-month high of $39.47. The stock’s fifty day simple moving average is $27.42 and its 200-day simple moving average is $25.42.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.05. Klaviyo had a negative return on equity of 32.19% and a negative net margin of 42.15%. The business had revenue of $222.21 million for the quarter, compared to analyst estimates of $212.34 million. During the same quarter in the prior year, the firm posted $0.09 earnings per share. The firm’s revenue for the quarter was up 35.0% compared to the same quarter last year. As a group, sell-side analysts predict that Klaviyo, Inc. will post -0.01 EPS for the current year.

Analyst Upgrades and Downgrades

KVYO has been the subject of a number of research reports. KeyCorp upgraded Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 price objective for the company in a research report on Thursday, August 8th. Robert W. Baird cut their price objective on Klaviyo from $40.00 to $35.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Barclays raised their price objective on Klaviyo from $29.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Canaccord Genuity Group cut their price objective on Klaviyo from $37.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Finally, Mizuho cut their price objective on Klaviyo from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, Klaviyo presently has a consensus rating of “Moderate Buy” and an average target price of $35.65.

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.