Quantbot Technologies LP Raises Position in Klaviyo, Inc. $KVYO

Quantbot Technologies LP grew its holdings in Klaviyo, Inc. (NYSE:KVYO) by 111.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 259,094 shares of the company’s stock after acquiring an additional 136,662 shares during the quarter. Quantbot Technologies LP owned 0.09% of Klaviyo worth $8,700,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in KVYO. Main Management ETF Advisors LLC increased its holdings in shares of Klaviyo by 1.7% in the second quarter. Main Management ETF Advisors LLC now owns 22,723 shares of the company’s stock valued at $763,000 after purchasing an additional 372 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of Klaviyo by 22.7% during the 1st quarter. Advisors Asset Management Inc. now owns 2,731 shares of the company’s stock valued at $83,000 after purchasing an additional 506 shares in the last quarter. CWM LLC boosted its stake in shares of Klaviyo by 227.5% during the 1st quarter. CWM LLC now owns 930 shares of the company’s stock worth $28,000 after acquiring an additional 646 shares in the last quarter. Petrus Trust Company LTA increased its position in shares of Klaviyo by 7.0% in the first quarter. Petrus Trust Company LTA now owns 13,439 shares of the company’s stock valued at $407,000 after buying an additional 884 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Klaviyo in the second quarter valued at about $31,000. 45.43% of the stock is owned by institutional investors and hedge funds.

Klaviyo Trading Up 1.8%

Klaviyo stock opened at $28.67 on Wednesday. The stock has a market capitalization of $8.66 billion, a price-to-earnings ratio of -119.47 and a beta of 1.18. The stock has a 50 day moving average of $27.22 and a two-hundred day moving average of $30.85. Klaviyo, Inc. has a twelve month low of $23.44 and a twelve month high of $49.55.

Klaviyo (NYSE:KVYO) last released its earnings results on Thursday, September 25th. The company reported $0.16 EPS for the quarter. Klaviyo had a negative net margin of 5.70% and a negative return on equity of 1.00%. The company had revenue of $293.12 million during the quarter. Equities analysts predict that Klaviyo, Inc. will post 0.04 earnings per share for the current year.

Insider Transactions at Klaviyo

In other news, Director Ed Hallen sold 89,748 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $31.71, for a total value of $2,845,909.08. Following the completion of the sale, the director directly owned 177,776 shares of the company’s stock, valued at $5,637,276.96. This trade represents a 33.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Summit Partners L. P sold 4,000,000 shares of Klaviyo stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $31.87, for a total value of $127,480,000.00. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 5,602,899 shares of company stock valued at $175,185,919. Corporate insiders own 53.24% of the company’s stock.

Wall Street Analyst Weigh In

KVYO has been the topic of a number of research reports. Truist Financial set a $45.00 price objective on Klaviyo in a report on Tuesday, November 25th. Piper Sandler reaffirmed an “overweight” rating and issued a $45.00 target price (down previously from $50.00) on shares of Klaviyo in a research report on Thursday, November 6th. Macquarie dropped their price objective on Klaviyo from $37.00 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, November 11th. TD Cowen upped their price objective on Klaviyo from $45.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Finally, Benchmark reiterated a “buy” rating on shares of Klaviyo in a research note on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Klaviyo has an average rating of “Moderate Buy” and an average price target of $42.90.

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.