Fox Run Management L.L.C. Has $852,000 Position in Klaviyo, Inc. $KVYO

Fox Run Management L.L.C. grew its stake in Klaviyo, Inc. (NYSE:KVYO) by 20.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,382 shares of the company’s stock after acquiring an additional 4,233 shares during the quarter. Fox Run Management L.L.C.’s holdings in Klaviyo were worth $852,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of KVYO. Lord Abbett & CO. LLC increased its stake in Klaviyo by 105.6% in the first 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 in the last quarter. Vanguard Group Inc. grew its holdings in shares of Klaviyo by 9.7% in the 1st quarter. Vanguard Group Inc. now owns 8,467,933 shares of the company’s stock valued at $256,240,000 after buying an additional 746,078 shares during the period. 1832 Asset Management L.P. increased its position in shares of Klaviyo by 38.7% in 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 buying an additional 627,500 shares in the last quarter. Trexquant Investment LP raised its stake in Klaviyo by 472.3% during the 1st quarter. Trexquant Investment LP now owns 371,707 shares of the company’s stock worth $11,248,000 after buying an additional 306,762 shares during the period. Finally, Acadian Asset Management LLC raised its stake in 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 buying an additional 306,496 shares during the period. Institutional investors own 45.43% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on KVYO. Morgan Stanley raised Klaviyo from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $40.00 to $50.00 in a research note on Friday, September 19th. Wall Street Zen raised Klaviyo from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings assumed coverage on shares of Klaviyo in a research note on Saturday, November 1st. They issued a “sell (d-)” rating on the stock. Cantor Fitzgerald lowered their price objective on shares of Klaviyo from $48.00 to $40.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. Finally, Jefferies Financial Group upgraded shares of Klaviyo to a “strong-buy” rating in a report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Klaviyo has a consensus rating of “Moderate Buy” and an average price target of $43.00.

Klaviyo Stock Up 5.6%

Shares of KVYO opened at $30.41 on Monday. Klaviyo, Inc. has a twelve month low of $23.44 and a twelve month high of $49.55. The stock has a market capitalization of $9.12 billion, a P/E ratio of -126.71 and a beta of 1.26. The company has a 50 day moving average of $28.73 and a 200-day moving average of $31.38.

Klaviyo (NYSE:KVYO) last announced its earnings results on Thursday, September 25th. The company reported $0.16 EPS for the quarter. The business 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, sell-side analysts anticipate that Klaviyo, Inc. will post 0.04 earnings per share for the current fiscal year.

Insider Transactions at Klaviyo

In other news, Director Ed Hallen sold 89,748 shares of the firm’s stock in a transaction dated 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 transaction, the director owned 177,776 shares in the company, valued at $5,637,276.96. This trade represents a 33.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Summit Partners L. P sold 4,000,000 shares of the company’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $31.87, for a total value of $127,480,000.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 5,741,781 shares of company stock worth $180,719,288 in the last three months. 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.