Alliancebernstein L.P. Sells 686,170 Shares of Klaviyo, Inc. (NYSE:KVYO)

Alliancebernstein L.P. decreased its stake in shares of Klaviyo, Inc. (NYSE:KVYO) by 14.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,996,216 shares of the company’s stock after selling 686,170 shares during the period. Alliancebernstein L.P.’s holdings in Klaviyo were worth $164,804,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. CIBC Private Wealth Group LLC grew its stake in Klaviyo by 169.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company’s stock valued at $72,000 after purchasing an additional 1,102 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Klaviyo in the fourth quarter valued at approximately $196,000. US Bancorp DE purchased a new stake in shares of Klaviyo during the fourth quarter worth $199,000. Keybank National Association OH purchased a new stake in Klaviyo during the 4th quarter worth about $203,000. Finally, Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Klaviyo by 8.0% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,836 shares of the company’s stock worth $220,000 after buying an additional 359 shares in the last quarter. Institutional investors own 45.43% of the company’s stock.

Analyst Ratings Changes

KVYO has been the subject of a number of research analyst reports. Mizuho lifted their price target on Klaviyo from $42.00 to $52.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Cantor Fitzgerald boosted their price objective on Klaviyo from $47.00 to $54.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Citigroup increased their target price on shares of Klaviyo from $39.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, February 11th. KeyCorp raised their target price on shares of Klaviyo from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Finally, Loop Capital boosted their price target on shares of Klaviyo from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Klaviyo has a consensus rating of “Moderate Buy” and an average target price of $49.89.

Klaviyo Price Performance

Shares of NYSE:KVYO opened at $30.85 on Wednesday. The company has a market capitalization of $8.43 billion, a PE ratio of -171.38 and a beta of 0.86. The business has a fifty day moving average price of $40.16 and a 200-day moving average price of $38.87. Klaviyo, Inc. has a 1-year low of $21.26 and a 1-year high of $49.55.

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

Insider Buying and Selling

In other news, insider Landon Edmond sold 40,000 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 298,607 shares in the company, valued at $12,481,772.60. This represents a 11.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Amanda Whalen sold 15,000 shares of Klaviyo stock in a transaction on Friday, January 10th. The stock was sold at an average price of $39.18, for a total transaction of $587,700.00. Following the transaction, the chief financial officer now owns 391,820 shares in the company, valued at $15,351,507.60. This represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,126,246 shares of company stock worth $69,799,958. 53.24% of the stock is owned by insiders.

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.