Gryphon Financial Partners LLC Has $711,000 Holdings in Klaviyo, Inc. (NYSE:KVYO)

Gryphon Financial Partners LLC cut its holdings in shares of Klaviyo, Inc. (NYSE:KVYO) by 20.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,571 shares of the company’s stock after selling 7,143 shares during the quarter. Gryphon Financial Partners LLC’s holdings in Klaviyo were worth $711,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of KVYO. Arizona State Retirement System raised its stake in shares of Klaviyo by 67.1% during the 2nd quarter. Arizona State Retirement System now owns 16,221 shares of the company’s stock worth $404,000 after purchasing an additional 6,512 shares in the last quarter. Glynn Capital Management LLC raised its stake in shares of Klaviyo by 19.7% during the 2nd quarter. Glynn Capital Management LLC now owns 1,363,768 shares of the company’s stock worth $33,944,000 after purchasing an additional 224,461 shares in the last quarter. Versor Investments LP purchased a new stake in shares of Klaviyo during the 2nd quarter worth about $309,000. Claro Advisors LLC raised its stake in shares of Klaviyo by 38.7% during the 2nd quarter. Claro Advisors LLC now owns 1,280,035 shares of the company’s stock worth $31,860,000 after purchasing an additional 357,355 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Klaviyo by 1,447.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,852 shares of the company’s stock worth $668,000 after purchasing an additional 25,117 shares in the last quarter. 45.43% of the stock is currently owned by institutional investors and hedge funds.

Klaviyo Stock Up 1.7 %

KVYO opened at $30.12 on Tuesday. The stock’s 50 day moving average price is $27.74 and its two-hundred day moving average price is $25.42. Klaviyo, Inc. has a 12-month low of $21.26 and a 12-month high of $39.47.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.15 earnings per share for the quarter, topping 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 company had revenue of $222.21 million for the quarter, compared to analyst estimates of $212.34 million. During the same quarter last year, the firm earned $0.09 EPS. Klaviyo’s revenue for the quarter was up 35.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Klaviyo, Inc. will post -0.01 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price target on shares of Klaviyo in a research note on Wednesday, September 4th. Cantor Fitzgerald raised their price target on Klaviyo from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Piper Sandler raised their price objective on Klaviyo from $30.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. 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. Finally, KeyCorp raised Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 price objective on the stock in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Klaviyo currently has a consensus rating of “Moderate Buy” and an average target price of $35.65.

Insider Transactions at Klaviyo

In other news, major shareholder Summit Partners L. P sold 1,300 shares of Klaviyo stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $31.64, for a total transaction of $41,132.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, major shareholder Summit Partners L. P sold 1,300 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $31.64, for a total value of $41,132.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Jeff Fagnan purchased 9,485 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was bought at an average cost of $26.43 per share, for a total transaction of $250,688.55. Following the purchase, the insider now owns 9,485 shares in the company, valued at $250,688.55. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 588,044 shares of company stock valued at $18,518,488. 53.24% of the stock is owned by corporate insiders.

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.