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

Klaviyo (NYSE:KVYO) had its target price raised by investment analysts at 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 price objective indicates a potential upside of 0.09% from the stock’s current price.

A number of other equities analysts have also weighed in on KVYO. Loop Capital upped their target price on shares of Klaviyo from $45.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Morgan Stanley raised their price objective on Klaviyo from $38.00 to $47.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Piper Sandler boosted their target price on Klaviyo from $45.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Macquarie reissued a “neutral” rating and set a $36.00 price target on shares of Klaviyo in a research note on Friday, November 8th. Finally, Benchmark reduced their price objective on Klaviyo from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $44.29.

Klaviyo Price Performance

KVYO stock opened at $47.96 on Wednesday. Klaviyo has a 1-year low of $21.26 and a 1-year high of $49.55. The business has a 50 day simple moving average of $42.77 and a two-hundred day simple moving average of $36.99. The company has a market capitalization of $12.93 billion, a price-to-earnings ratio of -266.42 and a beta of 0.60.

Insider Transactions at Klaviyo

In other news, CFO Amanda Whalen sold 15,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $45.85, for a total value of $687,750.00. Following the sale, the chief financial officer now directly owns 376,820 shares in the company, valued at approximately $17,277,197. This represents a 3.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Landon Edmond sold 40,000 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.56, for a total value of $1,382,400.00. Following the transaction, the insider now owns 236,621 shares of the company’s stock, valued at approximately $8,177,621.76. The trade was a 14.46 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 174,072 shares of company stock worth $6,778,517. 53.24% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in KVYO. Vanguard Group Inc. lifted its holdings in Klaviyo by 9.1% during the 4th quarter. Vanguard Group Inc. now owns 7,721,855 shares of the company’s stock valued at $318,449,000 after buying an additional 646,628 shares in the last quarter. Whale Rock Capital Management LLC increased its position in shares of Klaviyo by 608.9% during the third quarter. Whale Rock Capital Management LLC now owns 3,600,606 shares of the company’s stock worth $127,389,000 after acquiring an additional 3,092,725 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Klaviyo by 5.0% during the fourth quarter. Bank of New York Mellon Corp now owns 2,926,187 shares of the company’s stock valued at $120,676,000 after acquiring an additional 140,127 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in shares of Klaviyo by 0.9% in the fourth quarter. Clearbridge Investments LLC now owns 2,168,336 shares of the company’s stock valued at $89,422,000 after purchasing an additional 19,567 shares during the period. Finally, Franklin Resources Inc. grew its stake in Klaviyo by 48.6% in the fourth quarter. Franklin Resources Inc. now owns 1,943,523 shares of the company’s stock worth $80,151,000 after purchasing an additional 635,962 shares in the last quarter. 45.43% of the stock is currently owned by institutional investors.

About Klaviyo

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.