Alkeon Capital Management LLC Sells 100,000 Shares of Klaviyo, Inc. (NYSE:KVYO)

Alkeon Capital Management LLC decreased its stake in Klaviyo, Inc. (NYSE:KVYO - Free Report) by 33.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,000 shares of the company's stock after selling 100,000 shares during the period. Alkeon Capital Management LLC owned 0.07% of Klaviyo worth $8,248,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Barclays PLC increased its holdings in Klaviyo by 1,202.0% during the third quarter. Barclays PLC now owns 12,825 shares of the company's stock worth $453,000 after buying an additional 11,840 shares during the last quarter. Capital Investment Advisors LLC acquired a new position in shares of Klaviyo during the 4th quarter worth about $621,000. Oak Ridge Investments LLC bought a new stake in shares of Klaviyo in the 4th quarter valued at about $1,646,000. SG Americas Securities LLC lifted its stake in Klaviyo by 21.4% in the 4th quarter. SG Americas Securities LLC now owns 10,929 shares of the company's stock valued at $451,000 after purchasing an additional 1,923 shares during the last quarter. Finally, Renaissance Capital LLC grew its holdings in Klaviyo by 56.4% during the fourth quarter. Renaissance Capital LLC now owns 122,646 shares of the company's stock worth $5,058,000 after purchasing an additional 44,245 shares during the period. Institutional investors own 45.43% of the company's stock.

Klaviyo Stock Up 4.1 %

Shares of Klaviyo stock opened at $32.83 on Friday. The firm's 50-day moving average price is $31.18 and its two-hundred day moving average price is $37.54. The company has a market capitalization of $8.97 billion, a price-to-earnings ratio of -182.39 and a beta of 1.39. Klaviyo, Inc. has a 12-month low of $21.26 and a 12-month high of $49.55.

Klaviyo (NYSE:KVYO - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.12). Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. The firm had revenue of $270.16 million during the quarter, compared to the consensus estimate of $257.24 million. On average, sell-side analysts expect that Klaviyo, Inc. will post 0.04 earnings per share for the current year.

Insider Activity

In related news, major shareholder Jeff Fagnan bought 3,900 shares of the business's stock in a transaction on Wednesday, April 9th. The shares were purchased at an average price of $25.77 per share, for a total transaction of $100,503.00. Following the completion of the transaction, the insider now directly owns 3,900 shares of the company's stock, valued at approximately $100,503. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Amanda Whalen sold 15,000 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $45.85, for a total transaction of $687,750.00. Following the transaction, the chief financial officer now owns 376,820 shares of the company's stock, valued at $17,277,197. This trade represents a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,088,770 shares of company stock worth $67,947,356. Insiders own 53.24% of the company's stock.

Analyst Ratings Changes

KVYO has been the subject of a number of recent analyst reports. The Goldman Sachs Group raised their price objective on Klaviyo from $45.00 to $51.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Truist Financial cut their price target on Klaviyo from $55.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Benchmark upped their price objective on shares of Klaviyo from $40.00 to $51.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Stifel Nicolaus raised their target price on shares of Klaviyo from $45.00 to $54.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Finally, William Blair reiterated an "outperform" rating on shares of Klaviyo in a research note on Thursday, February 20th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $43.47.

Klaviyo 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.