Cabot Wealth Management Inc. Sells 1,153 Shares of Klaviyo, Inc. (NYSE:KVYO)

Cabot Wealth Management Inc. lowered its stake in shares of Klaviyo, Inc. (NYSE:KVYO) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 89,272 shares of the company’s stock after selling 1,153 shares during the period. Cabot Wealth Management Inc.’s holdings in Klaviyo were worth $3,682,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Advisors Asset Management Inc. increased its stake in Klaviyo by 145.6% in the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock valued at $48,000 after purchasing an additional 808 shares in the last quarter. West Tower Group LLC bought a new stake in shares of Klaviyo in the third quarter worth about $177,000. Victory Capital Management Inc. acquired a new stake in shares of Klaviyo during the third quarter worth about $208,000. Creative Planning bought a new position in shares of Klaviyo during the 3rd quarter valued at about $254,000. Finally, Aigen Investment Management LP acquired a new position in shares of Klaviyo in the 3rd quarter valued at approximately $335,000. Institutional investors own 45.43% of the company’s stock.

Klaviyo Stock Performance

Shares of KVYO stock opened at $41.79 on Friday. Klaviyo, Inc. has a 52-week low of $21.26 and a 52-week high of $49.55. The stock has a market cap of $11.27 billion, a price-to-earnings ratio of -232.14 and a beta of 0.60. The firm’s 50-day moving average is $43.72 and its 200-day moving average is $38.04.

Klaviyo (NYSE:KVYO) last released its quarterly earnings data on Wednesday, February 19th. The company reported ($0.06) earnings per share (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 during the quarter, compared to the consensus estimate of $257.24 million. Sell-side analysts predict that Klaviyo, Inc. will post 0.04 EPS for the current fiscal year.

Insider Activity at Klaviyo

In other Klaviyo news, President Stephen Eric Rowland sold 4,536 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $40.04, for a total value of $181,621.44. Following the transaction, the president now directly owns 260,403 shares of the company’s stock, valued at $10,426,536.12. This represents a 1.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Landon Edmond sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $41.80, for a total transaction of $1,672,000.00. Following the sale, the insider now owns 298,607 shares of the company’s stock, valued at $12,481,772.60. This trade represents a 11.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 114,536 shares of company stock worth $4,720,953. Company insiders own 53.24% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Morgan Stanley raised their target price on shares of Klaviyo from $47.00 to $50.00 and gave the stock an “equal weight” rating in a report on Thursday. Benchmark raised their price objective on shares of Klaviyo from $40.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday. Canaccord Genuity Group upped their target price on shares of Klaviyo from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday. Needham & Company LLC lifted their price target on Klaviyo from $46.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday. Finally, William Blair reaffirmed an “outperform” rating on shares of Klaviyo in a research report on Thursday. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $49.44.

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.