Wells Fargo & Company Forecasts Strong Price Appreciation for Klaviyo (NYSE:KVYO) Stock

Klaviyo (NYSE:KVYO) had its price objective raised by Wells Fargo & Company from $41.00 to $48.00 in a report issued on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Robert W. Baird increased their price objective on shares of Klaviyo from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Canaccord Genuity Group increased their price objective on shares of Klaviyo from $32.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Scotiabank increased their price objective on shares of Klaviyo from $35.00 to $45.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 29th. Morgan Stanley increased their price objective on shares of Klaviyo from $38.00 to $47.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Finally, Citigroup raised their price target on shares of Klaviyo from $39.00 to $48.00 and gave the stock a “neutral” rating in a research note on Tuesday. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $44.29.

Klaviyo Trading Down 0.1 %

Shares of KVYO opened at $47.50 on Wednesday. The company has a 50-day simple moving average of $42.60 and a 200-day simple moving average of $36.91. Klaviyo has a 52-week low of $21.26 and a 52-week high of $49.55.

Insider Activity

In other Klaviyo news, insider Landon Edmond sold 40,000 shares of Klaviyo stock in a transaction on 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 completion of the transaction, the insider now owns 236,621 shares of the company’s stock, valued at $8,177,621.76. The trade was a 14.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, President Stephen Eric Rowland sold 4,536 shares of Klaviyo stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.56, for a total transaction of $156,764.16. Following the completion of the transaction, the president now directly owns 186,785 shares of the company’s stock, valued at approximately $6,455,289.60. This represents a 2.37 % 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 over the last 90 days. Company insiders own 53.24% of the company’s stock.

Hedge Funds Weigh In On Klaviyo

Several hedge funds and other institutional investors have recently modified their holdings of KVYO. Advisors Asset Management Inc. boosted its holdings in shares of Klaviyo by 145.6% during the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock valued at $48,000 after acquiring an additional 808 shares during the period. nVerses Capital LLC acquired a new position in shares of Klaviyo during the third quarter valued at $53,000. CIBC Private Wealth Group LLC boosted its holdings in shares of Klaviyo by 169.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company’s stock valued at $72,000 after acquiring an additional 1,102 shares during the period. West Tower Group LLC acquired a new position in shares of Klaviyo during the third quarter valued at $177,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Klaviyo during the fourth quarter valued at $196,000. Institutional investors and hedge funds own 45.43% of the company’s stock.

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.