ClearBridge Investments LLC recently announced the acquisition of new stake in Klaviyo Inc (NYSE:KVYO). This fresh investment now brings its stake to 9.71% valued currently at $55.24 million. In addition, AllianceBernstein LP raised its holdings by 1.57 million to 1.57 million shares.
With over 0.46 million Klaviyo Inc (KVYO) shares trading Friday and a closing price of $29.06 on the day, the dollar volume was approximately $13.27 million. Currently, there are 258.30M common shares owned by the public and among those 25.85M shares have been available to trade.
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Insiders at the company have transacted a total of 7 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 1 of these insider trades were purchases, accounting for 4,919,165 shares. Insider sales of the common stock occurred on 6 occasions, with total insider shares sold totaling 8,449,178 shares.
The top 3 mutual fund holders in Klaviyo Inc are American Funds Growth Fund of Ame, AB Discovery Growth Fund, and American Funds New Economy Fund. American Funds Growth Fund of Ame owns 0.99 million shares of the company’s stock, all valued at over $29.22 million. The company bought an additional 0.99 million shares recently to bring their total holdings to about 5.14% of the shares outstanding. AB Discovery Growth Fund bought 24060.0 shares to see its total holdings expand to 0.85 million shares valued at over $25.09 million and representing 4.41% of the shares outstanding. American Funds New Economy Fund bought 0.68 million shares to bring its total holdings to over 0.68 million shares at a value of $20.06 million. American Funds New Economy Fund now owns shares totaling to 3.53% of the shares outstanding.
Shares of Klaviyo Inc (NYSE: KVYO) opened at $28.85, up $0.26 from a prior closing price of $28.59. However, the script later moved the day high at 29.75, up 1.64%. The company’s stock has a 5-day price change of 1.50% and -16.16% over the past three months. It has a 12-month low price of $24.35 and touched a high of $39.47 over the same period. KVYO has an average intraday trading volume of 827.36K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -2.04%, -0.46%, and -3.99% respectively.
Institutional ownership of Klaviyo Inc (NYSE: KVYO) shares accounts for 8.62% of the company’s 258.30M shares outstanding. Mutual fund holders own 54.97%, while other institutional holders and individual stakeholders account for 61.05% and 2.22% respectively.
It has a market capitalization of $7.51B. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.52% over the week and 6.17% over the month.
Analysts forecast that Klaviyo Inc (KVYO) will achieve an EPS of $0.08 for the current quarter, $0.11 for the next quarter and $0.43 for 2024. The lowest estimate earnings-per-share for the quarter is $0.05 while analysts give the company a high EPS estimate of $0.1.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 13 brokerage firm advisors rate Klaviyo Inc (KVYO) as a “Strong Buy” at a consensus score of 1.69. Specifically, 8 Wall Street analysts polled rate the stock as a buy, while 4 of the 13 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the KVYO, a number of firms have released research notes about the stock. Loop Capital stated their Buy rating for the stock in a research note on December 08, 2023, with the firm’s price target at $40.
