Klaviyo, Inc. $KVYO Position Lifted by Engineers Gate Manager LP

Engineers Gate Manager LP increased its position in shares of Klaviyo, Inc. (NYSE:KVYOFree Report) by 559.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 131,709 shares of the company’s stock after purchasing an additional 111,749 shares during the period. Engineers Gate Manager LP’s holdings in Klaviyo were worth $1,989,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Jefferies Financial Group Inc. boosted its holdings in shares of Klaviyo by 2,320.7% during the fourth quarter. Jefferies Financial Group Inc. now owns 455,000 shares of the company’s stock valued at $14,774,000 after acquiring an additional 436,204 shares during the period. Huntington National Bank lifted its position in Klaviyo by 117.1% in the 4th quarter. Huntington National Bank now owns 166,501 shares of the company’s stock valued at $5,406,000 after purchasing an additional 89,800 shares during the last quarter. Delta Global Management LP lifted its position in Klaviyo by 52.7% in the 4th quarter. Delta Global Management LP now owns 785,308 shares of the company’s stock valued at $25,499,000 after purchasing an additional 270,944 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Klaviyo by 8.9% during the 1st quarter. Bank of New York Mellon Corp now owns 1,508,137 shares of the company’s stock valued at $29,348,000 after purchasing an additional 123,480 shares during the period. Finally, Barton Investment Management boosted its stake in Klaviyo by 56.7% during the 1st quarter. Barton Investment Management now owns 1,050,052 shares of the company’s stock valued at $20,434,000 after purchasing an additional 380,010 shares during the period. 45.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on KVYO. Jefferies Financial Group restated a “buy” rating and issued a $21.00 price target on shares of Klaviyo in a research note on Thursday, August 6th. Piper Sandler reduced their price objective on Klaviyo from $26.00 to $23.00 and set an “overweight” rating for the company in a research report on Thursday, August 6th. Mizuho set a $28.00 price objective on Klaviyo in a report on Thursday, August 6th. Weiss Ratings upgraded Klaviyo from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday, September 8th. Finally, Benchmark downgraded Klaviyo from a “buy” rating to a “hold” rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.14.

Check Out Our Latest Analysis on Klaviyo

Insider Transactions at Klaviyo

In other news, Director Ed Hallen sold 98,782 shares of Klaviyo stock in a transaction on Monday, August 31st. The stock was sold at an average price of $20.48, for a total transaction of $2,023,055.36. Following the transaction, the director directly owned 94,457 shares in the company, valued at approximately $1,934,479.36. This trade represents a 51.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Amanda Whalen sold 14,000 shares of the business’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $18.47, for a total value of $258,580.00. Following the completion of the sale, the chief financial officer directly owned 824,192 shares in the company, valued at $15,222,826.24. This represents a 1.67% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 5,190,686 shares of company stock valued at $92,289,560 over the last three months. 37.42% of the stock is owned by company insiders.

Klaviyo Trading Down 2.6%

Klaviyo stock opened at $16.94 on Wednesday. Klaviyo, Inc. has a 52 week low of $12.53 and a 52 week high of $36.22. The stock has a market cap of $4.82 billion, a price-to-earnings ratio of 847.47 and a beta of 0.57. The company’s 50-day moving average price is $17.96 and its two-hundred day moving average price is $17.40.

Klaviyo (NYSE:KVYOGet Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.19 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.19. Klaviyo had a net margin of 0.49% and a return on equity of 5.67%. The company had revenue of $370.58 million during the quarter, compared to analyst estimates of $362.08 million. During the same period in the prior year, the business posted $0.16 EPS. The business’s revenue for the quarter was up 26.4% compared to the same quarter last year. Research analysts expect that Klaviyo, Inc. will post 0.2 earnings per share for the current fiscal year.

About Klaviyo

(Free Report)

Klaviyo, Inc is a technology company that provides a customer data and marketing automation platform for businesses. Its software helps brands collect, organize and analyze customer information, then use those insights to create targeted communications and personalized marketing campaigns.

The company’s platform supports marketing channels including email, SMS messaging, mobile push notifications and on-site experiences. Klaviyo also provides tools for customer segmentation, campaign automation, analytics and reporting, and integrates with e-commerce, payment and other business applications.

Klaviyo primarily serves consumer-focused businesses, including e-commerce brands, retailers and other companies seeking to build direct relationships with customers.

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Institutional Ownership by Quarter for Klaviyo (NYSE:KVYO)

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