Arizona State Retirement System Grows Position in Klaviyo, Inc. (NYSE:KVYO)

Arizona State Retirement System raised its position in Klaviyo, Inc. (NYSE:KVYO) by 4.0% in the fourth quarter, Holdings Channel reports. The fund owned 16,854 shares of the company’s stock after buying an additional 648 shares during the period. Arizona State Retirement System’s holdings in Klaviyo were worth $695,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its holdings in shares of Klaviyo by 145.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock valued at $48,000 after purchasing an additional 808 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Klaviyo in the fourth quarter valued at $196,000. US Bancorp DE acquired a new stake in Klaviyo in the fourth quarter valued at $199,000. Keybank National Association OH purchased a new stake in Klaviyo during the 4th quarter worth about $203,000. Finally, West Tower Group LLC acquired a new position in shares of Klaviyo during the 3rd quarter worth about $177,000. Institutional investors and hedge funds own 45.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. William Blair reissued an “outperform” rating on shares of Klaviyo in a research report on Thursday, February 20th. Needham & Company LLC upped their price target on shares of Klaviyo from $46.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Wells Fargo & Company decreased their price objective on Klaviyo from $48.00 to $45.00 and set an “equal weight” rating for the company in a research report on Thursday, February 20th. Cantor Fitzgerald boosted their price objective on shares of Klaviyo from $47.00 to $54.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Finally, Citigroup raised their target price on shares of Klaviyo from $39.00 to $48.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 11th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $49.44.

Insider Buying and Selling

In other news, CFO Amanda Whalen sold 15,000 shares of the business’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $39.18, for a total value of $587,700.00. Following the completion of the transaction, the chief financial officer now directly owns 391,820 shares of the company’s stock, valued at $15,351,507.60. The trade was a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Landon Edmond sold 40,000 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $41.80, for a total value of $1,672,000.00. Following the sale, the insider now directly owns 298,607 shares in the company, valued at approximately $12,481,772.60. The trade was a 11.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 111,246 shares of company stock worth $4,416,858 in the last ninety days. Insiders own 53.24% of the company’s stock.

Klaviyo Stock Up 4.2 %

NYSE:KVYO opened at $33.36 on Friday. Klaviyo, Inc. has a 52-week low of $21.26 and a 52-week high of $49.55. The stock has a fifty day simple moving average of $42.05 and a 200-day simple moving average of $38.61. The company has a market capitalization of $9.11 billion, a PE ratio of -185.31 and a beta of 0.86.

Klaviyo (NYSE:KVYO) last announced its earnings results on Wednesday, February 19th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.12). The business had revenue of $270.16 million for the quarter, compared to analyst estimates of $257.24 million. Klaviyo had a positive return on equity of 0.89% and a negative net margin of 4.92%. As a group, equities analysts anticipate that Klaviyo, Inc. will post 0.04 earnings per share for the current year.

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.