Two Sigma Advisers LP Increases 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 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 997,900 shares of the company’s stock after buying an additional 324,400 shares during the quarter. Two Sigma Advisers LP owned 0.37% of Klaviyo worth $41,153,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of KVYO. CIBC Private Wealth Group LLC raised its holdings in shares of Klaviyo by 169.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company’s stock valued at $72,000 after buying an additional 1,102 shares during the period. Tower Research Capital LLC TRC increased its holdings in Klaviyo by 77.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company’s stock worth $77,000 after purchasing an additional 818 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Klaviyo during the 4th quarter worth approximately $196,000. US Bancorp DE purchased a new stake in Klaviyo during the 4th quarter worth approximately $199,000. Finally, Keybank National Association OH purchased a new stake in Klaviyo during the 4th quarter worth approximately $203,000. 45.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on KVYO. Mizuho dropped their price objective on Klaviyo from $52.00 to $40.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. Piper Sandler lifted their price objective on Klaviyo from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, May 7th. Truist Financial dropped their price objective on Klaviyo from $55.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Stifel Nicolaus lifted their price objective on Klaviyo from $45.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Finally, Barclays lifted their price objective on Klaviyo from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, May 7th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $43.11.

Klaviyo Stock Performance

Shares of KVYO stock opened at $34.50 on Tuesday. Klaviyo, Inc. has a 1 year low of $21.26 and a 1 year high of $49.55. The stock has a fifty day moving average of $30.56 and a two-hundred day moving average of $37.21. The firm has a market capitalization of $10.25 billion, a PE ratio of -191.67 and a beta of 1.35.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $267.79 million. During the same quarter in the previous year, the firm posted $0.13 EPS. The firm’s quarterly revenue was up 33.3% on a year-over-year basis. Equities research analysts predict that Klaviyo, Inc. will post 0.04 earnings per share for the current fiscal year.

Insider Transactions at Klaviyo

In other news, major shareholder Summit Partners L. P sold 2,000,000 shares of the business’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $32.44, for a total value of $64,880,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Amanda Whalen sold 15,000 shares of the business’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $34.98, for a total value of $524,700.00. Following the completion of the sale, the chief financial officer now directly owns 521,627 shares in the company, valued at $18,246,512.46. This represents a 2.80% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,124,030 shares of company stock valued at $69,016,032. Corporate insiders own 49.92% of the company’s stock.

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.