JPMorgan Chase & Co. Decreases Position in Klaviyo, Inc. (NYSE:KVYO)

JPMorgan Chase & Co. lowered its position in Klaviyo, Inc. (NYSE:KVYO) by 78.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 467,877 shares of the company’s stock after selling 1,666,081 shares during the quarter. JPMorgan Chase & Co.’s holdings in Klaviyo were worth $16,553,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in KVYO. Arizona State Retirement System increased its position in 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. Renaissance Technologies LLC grew its holdings in shares of Klaviyo by 40.8% during the second quarter. Renaissance Technologies LLC now owns 238,900 shares of the company’s stock worth $5,946,000 after buying an additional 69,200 shares in the last quarter. Blair William & Co. IL lifted its stake in shares of Klaviyo by 14.3% during the second quarter. Blair William & Co. IL now owns 200,680 shares of the company’s stock valued at $4,995,000 after buying an additional 25,149 shares during the period. XTX Topco Ltd boosted its position in Klaviyo by 114.7% during the second quarter. XTX Topco Ltd now owns 24,363 shares of the company’s stock worth $606,000 after acquiring an additional 13,016 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in Klaviyo in the 2nd quarter worth approximately $747,000. Institutional investors and hedge funds own 45.43% of the company’s stock.

Klaviyo Price Performance

NYSE:KVYO opened at $39.39 on Friday. Klaviyo, Inc. has a 12 month low of $21.26 and a 12 month high of $44.77. The business’s 50-day moving average is $39.24 and its two-hundred day moving average is $33.77. The firm has a market capitalization of $10.62 billion, a PE ratio of -218.82 and a beta of 0.57.

Klaviyo (NYSE:KVYO) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.11 by $0.04. The firm had revenue of $235.09 million for the quarter, compared to analyst estimates of $226.33 million. Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. Klaviyo’s revenue for the quarter was up 33.7% on a year-over-year basis. During the same period in the previous year, the company posted ($1.24) EPS. Equities analysts anticipate that Klaviyo, Inc. will post 0.03 EPS for the current year.

Wall Street Analysts Forecast Growth

KVYO has been the topic of a number of recent analyst reports. Macquarie reissued a “neutral” rating and set a $36.00 price target on shares of Klaviyo in a research note on Friday, November 8th. KeyCorp increased their target price on Klaviyo from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Loop Capital lifted their price target on Klaviyo from $45.00 to $60.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Piper Sandler upped their price objective on shares of Klaviyo from $45.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, Canaccord Genuity Group raised their target price on shares of Klaviyo from $32.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Klaviyo has a consensus rating of “Moderate Buy” and an average price target of $41.41.

Insider Activity at Klaviyo

In other news, insider Landon Edmond sold 40,000 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.56, for a total transaction of $1,382,400.00. Following the transaction, the insider now owns 236,621 shares of the company’s stock, valued at approximately $8,177,621.76. This trade represents a 14.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Stephen Eric Rowland sold 4,536 shares of the company’s stock in a transaction that occurred 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 sale, the president now owns 186,785 shares in the company, valued at $6,455,289.60. The trade was a 2.37 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 172,650 shares of company stock valued at $6,582,805. Corporate insiders own 53.24% of the company’s stock.

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.