Klaviyo (NYSE:KVYO) Given New $48.00 Price Target at Citigroup

Klaviyo (NYSE:KVYO) had its price objective lifted by Citigroup from $39.00 to $48.00 in a report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other analysts also recently issued reports on KVYO. Wells Fargo & Company raised their target price on Klaviyo from $37.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 7th. Cantor Fitzgerald lifted their price objective on Klaviyo from $33.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Needham & Company LLC boosted their price objective on Klaviyo from $40.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Benchmark cut their target price on shares of Klaviyo from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Finally, Canaccord Genuity Group boosted their price target on shares of Klaviyo from $32.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Klaviyo currently has a consensus rating of “Moderate Buy” and an average target price of $43.88.

Klaviyo Stock Down 3.2 %

Klaviyo stock opened at $47.59 on Tuesday. The company has a market capitalization of $12.83 billion, a P/E ratio of -264.39 and a beta of 0.60. The firm has a 50 day moving average price of $42.41 and a 200-day moving average price of $36.77. Klaviyo has a twelve month low of $21.26 and a twelve month high of $49.55.

Insiders Place Their Bets

In related news, President Stephen Eric Rowland sold 4,536 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.56, for a total value of $156,764.16. Following the completion of the transaction, the president now directly owns 186,785 shares in the company, valued at approximately $6,455,289.60. The trade was a 2.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Landon Edmond sold 40,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.56, for a total value of $1,382,400.00. Following the sale, the insider now owns 236,621 shares in the company, valued at $8,177,621.76. The trade was a 14.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 174,072 shares of company stock worth $6,778,517 in the last ninety days. 53.24% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Klaviyo

A number of hedge funds and other institutional investors have recently modified their holdings of KVYO. Vanguard Group Inc. lifted its position in Klaviyo by 9.1% in the 4th quarter. Vanguard Group Inc. now owns 7,721,855 shares of the company’s stock worth $318,449,000 after buying an additional 646,628 shares during the last quarter. Whale Rock Capital Management LLC lifted its holdings in shares of Klaviyo by 608.9% in the 3rd quarter. Whale Rock Capital Management LLC now owns 3,600,606 shares of the company’s stock worth $127,389,000 after acquiring an additional 3,092,725 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Klaviyo by 5.0% in the 4th quarter. Bank of New York Mellon Corp now owns 2,926,187 shares of the company’s stock valued at $120,676,000 after purchasing an additional 140,127 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Klaviyo by 41.9% during the 4th quarter. American Century Companies Inc. now owns 1,209,612 shares of the company’s stock valued at $49,884,000 after purchasing an additional 357,194 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Klaviyo by 45.1% during the 3rd quarter. Geode Capital Management LLC now owns 786,186 shares of the company’s stock valued at $27,827,000 after purchasing an additional 244,447 shares during the last quarter. 45.43% of the stock is currently owned by hedge funds and other institutional investors.

About Klaviyo

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.