Neuberger Berman Group LLC Reduces Stake in Klaviyo, Inc. (NYSE:KVYO)

Neuberger Berman Group LLC reduced its stake in Klaviyo, Inc. (NYSE:KVYOFree Report) by 21.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,183 shares of the company’s stock after selling 12,600 shares during the quarter. Neuberger Berman Group LLC’s holdings in Klaviyo were worth $1,255,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Clearbridge Investments LLC grew its holdings in shares of Klaviyo by 16.6% during the 4th quarter. Clearbridge Investments LLC now owns 2,174,097 shares of the company’s stock worth $60,396,000 after purchasing an additional 309,864 shares during the period. Vanguard Group Inc. purchased a new position in shares of Klaviyo during the 3rd quarter worth $49,833,000. Franklin Resources Inc. grew its holdings in shares of Klaviyo by 95.4% during 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 during the period. FMR LLC purchased a new position in shares of Klaviyo during the 3rd quarter worth $34,203,000. Finally, Norges Bank purchased a new position in shares of Klaviyo during the 4th quarter worth $21,258,000. 45.43% of the stock is currently owned by hedge funds and other institutional investors.

Klaviyo Stock Performance

KVYO stock opened at $22.55 on Tuesday. The business has a 50 day moving average price of $23.43 and a 200 day moving average price of $26.05. Klaviyo, Inc. has a fifty-two week low of $21.51 and a fifty-two week high of $39.47.

Klaviyo (NYSE:KVYOGet Free Report) last posted its earnings results on Wednesday, May 8th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.03. The business had revenue of $210.00 million for the quarter, compared to analysts’ expectations of $202.08 million. The business’s revenue for the quarter was up 34.5% compared to the same quarter last year. Analysts forecast that Klaviyo, Inc. will post -0.11 EPS for the current fiscal year.

Insider Buying and Selling

In other Klaviyo news, Director Jennifer Ceran sold 13,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $24.65, for a total value of $320,450.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Klaviyo news, Director Jennifer Ceran sold 13,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $24.65, for a total value of $320,450.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Landon Edmond sold 3,545 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $24.15, for a total value of $85,611.75. Following the completion of the sale, the insider now owns 167,127 shares of the company’s stock, valued at approximately $4,036,117.05. The disclosure for this sale can be found here. 53.24% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on KVYO. Cantor Fitzgerald reiterated an “overweight” rating and set a $31.00 price target on shares of Klaviyo in a report on Thursday, May 9th. Mizuho lowered their target price on Klaviyo from $40.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Needham & Company LLC restated a “buy” rating and set a $40.00 target price on shares of Klaviyo in a report on Friday, May 17th. Barclays lowered their target price on Klaviyo from $32.00 to $25.00 and set an “equal weight” rating for the company in a report on Thursday, May 9th. Finally, Robert W. Baird lowered their target price on Klaviyo from $40.00 to $35.00 and set an “outperform” rating for the company in a report on Thursday, May 9th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Klaviyo currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.50.

View Our Latest Stock Report on Klaviyo

Klaviyo Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Klaviyo (NYSE:KVYO)

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