Envestnet Asset Management Inc. Makes New Investment in Klaviyo, Inc. $KVYO

Envestnet Asset Management Inc. acquired a new stake in Klaviyo, Inc. (NYSE:KVYO) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 105,849 shares of the company’s stock, valued at approximately $3,554,000.

A number of other hedge funds also recently made changes to their positions in KVYO. Lord Abbett & CO. LLC boosted its holdings in shares of Klaviyo by 105.6% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,538,220 shares of the company’s stock worth $46,546,000 after buying an additional 790,146 shares during the last quarter. Vanguard Group Inc. boosted its stake in Klaviyo by 9.7% in the first quarter. Vanguard Group Inc. now owns 8,467,933 shares of the company’s stock valued at $256,240,000 after acquiring an additional 746,078 shares during the last quarter. 1832 Asset Management L.P. grew its position in shares of Klaviyo by 38.7% during the 1st quarter. 1832 Asset Management L.P. now owns 2,248,800 shares of the company’s stock valued at $68,049,000 after acquiring an additional 627,500 shares during the period. Trexquant Investment LP grew its position in shares of Klaviyo by 472.3% during the 1st quarter. Trexquant Investment LP now owns 371,707 shares of the company’s stock valued at $11,248,000 after acquiring an additional 306,762 shares during the period. Finally, Acadian Asset Management LLC increased its stake in shares of Klaviyo by 162.0% during the 1st quarter. Acadian Asset Management LLC now owns 495,729 shares of the company’s stock worth $14,986,000 after purchasing an additional 306,496 shares during the last quarter. 45.43% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Amanda Whalen sold 15,000 shares of the company’s stock in a transaction on Friday, October 10th. The shares were sold at an average price of $25.03, for a total value of $375,450.00. Following the transaction, the chief financial officer owned 481,719 shares of the company’s stock, valued at approximately $12,057,426.57. This represents a 3.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ed Hallen sold 2,811 shares of the stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $30.00, for a total value of $84,330.00. Following the completion of the sale, the director owned 168,659 shares in the company, valued at $5,059,770. This trade represents a 1.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 5,789,084 shares of company stock valued at $182,120,957. 49.92% of the stock is owned by company insiders.

Klaviyo Stock Up 0.4%

KVYO stock opened at $28.61 on Friday. The stock has a 50-day simple moving average of $28.47 and a two-hundred day simple moving average of $31.33. Klaviyo, Inc. has a twelve month low of $23.44 and a twelve month high of $49.55. The firm has a market capitalization of $8.64 billion, a PE ratio of -119.19 and a beta of 1.26.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings results on Thursday, September 25th. The company reported $0.16 earnings per share (EPS) for the quarter. Klaviyo had a negative net margin of 5.70% and a negative return on equity of 1.00%. The firm had revenue of $293.12 million for the quarter. On average, equities research analysts anticipate that Klaviyo, Inc. will post 0.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on KVYO shares. Benchmark reiterated a “buy” rating on shares of Klaviyo in a research note on Tuesday, November 4th. Cantor Fitzgerald cut their price target on Klaviyo from $48.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. TD Cowen lifted their price objective on Klaviyo from $45.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Wells Fargo & Company assumed coverage on shares of Klaviyo in a report on Tuesday, September 30th. They set an “overweight” rating and a $40.00 price objective on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and set a $45.00 target price on shares of Klaviyo in a research report on Friday, September 26th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Klaviyo has a consensus rating of “Moderate Buy” and an average target price of $42.67.

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.