Glynn Capital Management LLC Acquires 45,406 Shares of Klaviyo, Inc. (NYSE:KVYO)

Glynn Capital Management LLC grew its holdings in shares of Klaviyo, Inc. (NYSE:KVYO) by 18.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 291,155 shares of the company’s stock after buying an additional 45,406 shares during the period. Klaviyo makes up 1.5% of Glynn Capital Management LLC’s investment portfolio, making the stock its 19th largest holding. Glynn Capital Management LLC owned about 0.11% of Klaviyo worth $8,088,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of KVYO. Wellington Management Group LLP bought a new position in shares of Klaviyo in the 3rd quarter worth $5,047,000. Hudson Bay Capital Management LP bought a new position in shares of Klaviyo in the 3rd quarter worth $690,000. Pursue Wealth Partners LLC purchased a new stake in Klaviyo in the 4th quarter valued at $1,753,000. Summit Partners L P purchased a new stake in Klaviyo in the 3rd quarter valued at $1,708,162,000. Finally, FMR LLC purchased a new stake in Klaviyo in the 3rd quarter valued at $34,203,000. 45.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Klaviyo news, insider Landon Edmond sold 3,545 shares of the firm’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $24.15, for a total value of $85,611.75. Following the completion of the transaction, the insider now owns 167,127 shares in the company, valued at approximately $4,036,117.05. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Klaviyo Stock Up 1.9 %

Shares of KVYO stock traded up $0.43 on Wednesday, hitting $22.83. 162,498 shares of the stock were exchanged, compared to its average volume of 1,106,793. Klaviyo, Inc. has a one year low of $22.12 and a one year high of $39.47. The firm’s 50 day moving average is $25.11 and its two-hundred day moving average is $27.13.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.02. The firm had revenue of $201.62 million for the quarter, compared to the consensus estimate of $196.02 million. As a group, equities research analysts predict that Klaviyo, Inc. will post -0.27 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Morgan Stanley lowered their price target on Klaviyo from $37.00 to $32.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 17th. Needham & Company LLC reissued a “buy” rating and issued a $40.00 price target on shares of Klaviyo in a research report on Wednesday, February 28th. KeyCorp assumed coverage on Klaviyo in a research report on Thursday, March 21st. They issued a “sector weight” rating for the company. William Blair reissued an “outperform” rating on shares of Klaviyo in a research report on Wednesday, February 28th. Finally, FBN Securities assumed coverage on Klaviyo in a research report on Wednesday, March 20th. They set an “outperform” rating and a $35.00 target price for the company. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $36.88.

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.