Two Sigma Advisers LP Has $41.15 Million Stock Holdings in Klaviyo, Inc. (NYSE:KVYO)

Two Sigma Advisers LP lifted its stake in shares of Klaviyo, Inc. (NYSE:KVYO) by 48.2% during the fourth quarter, Holdings Channel reports. The firm owned 997,900 shares of the company’s stock after purchasing an additional 324,400 shares during the quarter. Two Sigma Advisers LP’s holdings in Klaviyo were worth $41,153,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of Klaviyo by 8.0% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,836 shares of the company’s stock worth $220,000 after purchasing an additional 359 shares during the period. Victory Capital Management Inc. raised its position in Klaviyo by 10.3% during the fourth quarter. Victory Capital Management Inc. now owns 6,469 shares of the company’s stock valued at $267,000 after buying an additional 604 shares during the period. Arizona State Retirement System lifted its stake in Klaviyo by 4.0% in the 4th quarter. Arizona State Retirement System now owns 16,854 shares of the company’s stock worth $695,000 after acquiring an additional 648 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Klaviyo by 5.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 14,285 shares of the company’s stock worth $589,000 after acquiring an additional 677 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in Klaviyo by 77.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company’s stock worth $77,000 after acquiring an additional 818 shares in the last quarter. 45.43% of the stock is owned by institutional investors and hedge funds.

Klaviyo Stock Performance

KVYO opened at $34.50 on Tuesday. The company has a market cap of $10.25 billion, a PE ratio of -191.67 and a beta of 1.35. The stock has a 50-day moving average of $30.56 and a 200-day 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 results on Tuesday, May 6th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.02. Klaviyo had a positive return on equity of 0.89% and a negative net margin of 4.92%. The company had revenue of $279.83 million during the quarter, compared to the consensus estimate of $267.79 million. During the same quarter in the prior year, the company posted $0.13 EPS. The firm’s revenue was up 33.3% on a year-over-year basis. On average, research analysts predict that Klaviyo, Inc. will post 0.04 earnings per share for the current year.

Analyst Ratings Changes

KVYO has been the subject of several research analyst reports. The Goldman Sachs Group reduced their price objective on Klaviyo from $51.00 to $44.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Needham & Company LLC reduced their price objective on Klaviyo from $56.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Truist Financial reduced their price objective on Klaviyo from $55.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Stephens initiated coverage on Klaviyo in a research note on Wednesday, March 19th. They issued an “overweight” rating and a $43.00 price objective for the company. Finally, Robert W. Baird reduced their price objective on Klaviyo from $54.00 to $37.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Klaviyo currently has an average rating of “Moderate Buy” and an average target price of $43.11.

Insider Activity at Klaviyo

In related news, President Stephen Eric Rowland sold 36,710 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $35.08, for a total transaction of $1,287,786.80. Following the completion of the sale, the president now owns 246,254 shares in the company, valued at $8,638,590.32. This represents a 12.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Amanda Whalen sold 15,000 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $33.54, for a total value of $503,100.00. Following the sale, the chief financial officer now owns 349,623 shares of the company’s stock, valued at approximately $11,726,355.42. The trade was a 4.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,124,030 shares of company stock worth $69,016,032 in the last 90 days. 49.92% of the stock is owned by company insiders.

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.