Federated Hermes Inc. Has $110.10 Million Stock Position in Klaviyo, Inc. (NYSE:KVYO)

Federated Hermes Inc. lessened its holdings in Klaviyo, Inc. (NYSE:KVYO) by 7.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,669,800 shares of the company’s stock after selling 214,500 shares during the quarter. Federated Hermes Inc.’s holdings in Klaviyo were worth $110,103,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of KVYO. Y Intercept Hong Kong Ltd bought a new stake in Klaviyo in the 4th quarter valued at about $374,000. Handelsbanken Fonder AB bought a new stake in shares of Klaviyo in the fourth quarter valued at approximately $689,000. Telemark Asset Management LLC acquired a new stake in Klaviyo during the fourth quarter worth approximately $4,124,000. Renaissance Capital LLC increased its stake in Klaviyo by 56.4% during the 4th quarter. Renaissance Capital LLC now owns 122,646 shares of the company’s stock worth $5,058,000 after acquiring an additional 44,245 shares during the period. Finally, Barclays PLC increased its stake in Klaviyo by 1,202.0% during the 3rd quarter. Barclays PLC now owns 12,825 shares of the company’s stock worth $453,000 after acquiring an additional 11,840 shares during the period. 45.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on KVYO shares. Loop Capital increased their target price on Klaviyo from $45.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. KeyCorp increased their price objective on shares of Klaviyo from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. The Goldman Sachs Group boosted their target price on shares of Klaviyo from $45.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Morgan Stanley increased their price target on shares of Klaviyo from $47.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. Finally, Barclays boosted their price objective on shares of Klaviyo from $47.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Five 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.89.

Klaviyo Price Performance

KVYO opened at $25.71 on Friday. Klaviyo, Inc. has a fifty-two week low of $21.26 and a fifty-two week high of $49.55. The company’s 50 day moving average price is $39.26 and its two-hundred day moving average price is $38.73. The firm has a market capitalization of $7.02 billion, a price-to-earnings ratio of -142.85 and a beta of 1.39.

Klaviyo (NYSE:KVYO) last released its quarterly earnings results on Wednesday, February 19th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $270.16 million during the quarter, compared to the consensus estimate of $257.24 million. As a group, equities research analysts predict that Klaviyo, Inc. will post 0.04 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Summit Partners L. P sold 2,000,000 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $32.44, for a total transaction of $64,880,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Amanda Whalen sold 15,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $45.85, for a total transaction of $687,750.00. Following the transaction, the chief financial officer now directly owns 376,820 shares in the company, valued at $17,277,197. The trade was a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,126,246 shares of company stock worth $69,799,958. 53.24% of the stock is currently owned by company 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.