Klaviyo, Inc. (NYSE:KVYO) Shares Purchased by Whale Rock Capital Management LLC

Whale Rock Capital Management LLC grew its holdings in shares of Klaviyo, Inc. (NYSE:KVYO) by 7.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,868,451 shares of the company’s stock after purchasing an additional 267,845 shares during the period. Klaviyo makes up approximately 1.9% of Whale Rock Capital Management LLC’s investment portfolio, making the stock its 21st largest holding. Whale Rock Capital Management LLC’s holdings in Klaviyo were worth $159,535,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC boosted its holdings in shares of Klaviyo by 21.4% in the fourth quarter. SG Americas Securities LLC now owns 10,929 shares of the company’s stock valued at $451,000 after acquiring an additional 1,923 shares in the last quarter. Renaissance Capital LLC boosted its stake in Klaviyo by 56.4% during the 4th quarter. Renaissance Capital LLC now owns 122,646 shares of the company’s stock valued at $5,058,000 after purchasing an additional 44,245 shares in the last quarter. Wilmington Savings Fund Society FSB increased its position in shares of Klaviyo by 17,445.7% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 16,142 shares of the company’s stock valued at $666,000 after purchasing an additional 16,050 shares during the period. WCM Investment Management LLC bought a new stake in shares of Klaviyo in the 4th quarter worth $12,781,000. Finally, Legato Capital Management LLC lifted its holdings in shares of Klaviyo by 21.7% in the fourth quarter. Legato Capital Management LLC now owns 40,032 shares of the company’s stock valued at $1,651,000 after buying an additional 7,142 shares during the period. 45.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on KVYO. The Goldman Sachs Group dropped their price target on shares of Klaviyo from $51.00 to $44.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Stifel Nicolaus lifted their price target on shares of Klaviyo from $45.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Robert W. Baird cut their price objective on Klaviyo from $54.00 to $37.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Barclays lifted their target price on Klaviyo from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, May 7th. Finally, Stephens initiated coverage on Klaviyo in a research report on Wednesday, March 19th. They set an “overweight” rating and a $43.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Klaviyo presently has an average rating of “Moderate Buy” and an average target price of $43.11.

Insider Transactions at Klaviyo

In related news, insider Landon Edmond sold 9,965 shares of Klaviyo stock in a transaction on Friday, May 16th. The stock was sold at an average price of $34.85, for a total transaction of $347,280.25. Following the completion of the sale, the insider now owns 404,744 shares of the company’s stock, valued at approximately $14,105,328.40. This trade represents a 2.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Summit Partners L. P sold 2,000,000 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $32.44, for a total value of $64,880,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,124,030 shares of company stock valued at $69,016,032. 49.92% of the stock is owned by insiders.

Klaviyo Price Performance

NYSE KVYO opened at $34.50 on Tuesday. The firm has a market capitalization of $10.25 billion, a price-to-earnings ratio of -191.67 and a beta of 1.35. The company has a 50 day simple moving average of $30.56 and a 200-day simple moving average of $37.21. Klaviyo, Inc. has a 52-week low of $21.26 and a 52-week high of $49.55.

Klaviyo (NYSE:KVYO) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. The firm had revenue of $279.83 million for the quarter, compared to analyst estimates of $267.79 million. During the same quarter in the prior year, the business earned $0.13 EPS. The company’s revenue for the quarter was up 33.3% compared to the same quarter last year. On average, analysts predict that Klaviyo, Inc. will post 0.04 EPS for the current year.

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.