Franklin Resources Inc. Raises Stock Position in Klaviyo, Inc. (NYSE:KVYO)

Franklin Resources Inc. grew its holdings in Klaviyo, Inc. (NYSE:KVYO) by 48.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,943,523 shares of the company’s stock after acquiring an additional 635,962 shares during the period. Franklin Resources Inc.’s holdings in Klaviyo were worth $80,151,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in KVYO. Y Intercept Hong Kong Ltd bought a new position in shares of Klaviyo during the fourth quarter worth $374,000. Handelsbanken Fonder AB purchased a new stake in Klaviyo in the 4th quarter worth $689,000. Telemark Asset Management LLC bought a new position in shares of Klaviyo during the 4th quarter valued at about $4,124,000. Integrated Wealth Concepts LLC purchased a new position in shares of Klaviyo during the third quarter valued at about $5,113,000. Finally, Renaissance Capital LLC increased its holdings in shares of Klaviyo by 56.4% in the fourth quarter. Renaissance Capital LLC now owns 122,646 shares of the company’s stock worth $5,058,000 after purchasing an additional 44,245 shares during the last quarter. Institutional investors own 45.43% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Summit Partners L. P sold 2,000,000 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $32.44, for a total value of $64,880,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Amanda Whalen sold 15,000 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $33.54, for a total value of $503,100.00. Following the transaction, the chief financial officer now owns 349,623 shares in the company, valued at $11,726,355.42. The trade was a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,126,246 shares of company stock valued at $69,799,958 in the last 90 days. Company insiders own 53.24% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on KVYO shares. Scotiabank raised their price target on Klaviyo from $35.00 to $45.00 and gave the company a “sector perform” rating in a report on Wednesday, January 29th. Mizuho raised their target price on shares of Klaviyo from $42.00 to $52.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Citigroup upped their price target on shares of Klaviyo from $39.00 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, February 11th. KeyCorp lifted 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. Finally, Piper Sandler upped their target price on shares of Klaviyo from $50.00 to $53.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $49.89.

Klaviyo Stock Performance

Shares of NYSE KVYO opened at $27.86 on Friday. The business’s 50 day moving average price is $39.62 and its 200-day moving average price is $38.74. Klaviyo, Inc. has a fifty-two week low of $21.26 and a fifty-two week high of $49.55. The company has a market cap of $7.61 billion, a price-to-earnings ratio of -154.78 and a beta of 0.86.

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

Klaviyo 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.