Klaviyo (NYSE:KVYO) Price Target Raised to $48.00 at Wells Fargo & Company

Klaviyo (NYSE:KVYO) had its price target hoisted by Wells Fargo & Company from $41.00 to $48.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 1.33% from the company’s current price.

KVYO has been the subject of several other reports. Scotiabank increased their price objective on Klaviyo from $35.00 to $45.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 29th. Canaccord Genuity Group increased their price objective on Klaviyo from $32.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Loop Capital increased their price objective on Klaviyo from $45.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Macquarie restated a “neutral” rating and issued a $36.00 target price on shares of Klaviyo in a report on Friday, November 8th. Finally, Robert W. Baird upped their target price on Klaviyo from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $44.29.

Klaviyo Price Performance

NYSE KVYO traded down $0.18 during mid-day trading on Wednesday, hitting $47.37. The stock had a trading volume of 203,160 shares, compared to its average volume of 1,022,300. The firm’s 50 day moving average is $42.60 and its 200 day moving average is $36.91. Klaviyo has a twelve month low of $21.26 and a twelve month high of $49.55. The stock has a market capitalization of $12.77 billion, a price-to-earnings ratio of -263.15 and a beta of 0.60.

Insider Transactions at Klaviyo

In related news, insider Landon Edmond sold 40,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.56, for a total transaction of $1,382,400.00. Following the completion of the transaction, the insider now directly owns 236,621 shares in the company, valued at $8,177,621.76. This trade represents a 14.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 value of $687,750.00. Following the transaction, the chief financial officer now owns 376,820 shares of the company’s stock, valued at $17,277,197. This trade represents a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 174,072 shares of company stock worth $6,778,517. 53.24% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Klaviyo

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new position in Klaviyo during the 4th quarter valued at about $25,197,000. WINTON GROUP Ltd acquired a new stake in Klaviyo in the 4th quarter valued at about $241,000. Vanguard Group Inc. raised its position in Klaviyo by 9.1% in the 4th quarter. Vanguard Group Inc. now owns 7,721,855 shares of the company’s stock valued at $318,449,000 after purchasing an additional 646,628 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Klaviyo in the 4th quarter valued at about $507,000. Finally, Sei Investments Co. acquired a new stake in Klaviyo in the 4th quarter valued at about $1,781,000. 45.43% of the stock is currently owned by hedge funds and other institutional investors.

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.