Klaviyo, Inc. $KVYO Shares Bought by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC grew its position in shares of Klaviyo, Inc. (NYSE:KVYO) by 14.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 40,980 shares of the company’s stock after purchasing an additional 5,310 shares during the quarter. Pier 88 Investment Partners LLC’s holdings in Klaviyo were worth $1,376,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Lord Abbett & CO. LLC lifted its position in Klaviyo by 105.6% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,538,220 shares of the company’s stock valued at $46,546,000 after purchasing an additional 790,146 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of 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 purchasing an additional 746,078 shares during the period. 1832 Asset Management L.P. increased its stake in shares of Klaviyo by 38.7% in the first quarter. 1832 Asset Management L.P. now owns 2,248,800 shares of the company’s stock valued at $68,049,000 after purchasing an additional 627,500 shares during the period. Trexquant Investment LP raised its holdings in shares of Klaviyo by 472.3% during the first quarter. Trexquant Investment LP now owns 371,707 shares of the company’s stock valued at $11,248,000 after buying an additional 306,762 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of Klaviyo by 162.0% during the first quarter. Acadian Asset Management LLC now owns 495,729 shares of the company’s stock worth $14,986,000 after buying an additional 306,496 shares during the period. Institutional investors and hedge funds own 45.43% of the company’s stock.

Insider Activity

In other Klaviyo news, Director Ledger Susan St. sold 3,413 shares of Klaviyo stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $32.20, for a total value of $109,898.60. Following the transaction, the director owned 10,939 shares in the company, valued at approximately $352,235.80. The trade was a 23.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Stephen Eric Rowland sold 7,105 shares of the company’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $24.35, for a total value of $173,006.75. Following the completion of the transaction, the president directly owned 431,516 shares in the company, valued at $10,507,414.60. This represents a 1.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 5,741,781 shares of company stock valued at $180,719,288 in the last ninety days. 49.92% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Piper Sandler restated an “overweight” rating and issued a $45.00 target price (down from $50.00) on shares of Klaviyo in a research report on Thursday. Macquarie reissued a “neutral” rating and issued a $37.00 price target on shares of Klaviyo in a research note on Wednesday, August 6th. Stephens cut their price objective on shares of Klaviyo from $45.00 to $43.00 and set an “overweight” rating on the stock in a research note on Friday, September 26th. Citigroup raised shares of Klaviyo from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $40.00 to $50.00 in a report on Thursday, August 7th. Finally, KeyCorp lowered their target price on shares of Klaviyo from $50.00 to $45.00 and set an “overweight” rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Klaviyo has an average rating of “Moderate Buy” and an average price target of $43.00.

Klaviyo Trading Up 5.6%

Shares of Klaviyo stock opened at $30.41 on Friday. Klaviyo, Inc. has a 52 week low of $23.44 and a 52 week high of $49.55. The stock has a market cap of $9.12 billion, a PE ratio of -126.71 and a beta of 1.26. The company’s 50-day moving average price is $28.73 and its two-hundred day moving average price is $31.34.

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

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.