Balyasny Asset Management L.P. Grows Holdings in Klaviyo, Inc. (NYSE:KVYO)

Balyasny Asset Management L.P. grew its stake in Klaviyo, Inc. (NYSE:KVYO - Free Report) by 43.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 613,204 shares of the company's stock after buying an additional 184,672 shares during the period. Balyasny Asset Management L.P. owned 0.23% of Klaviyo worth $25,289,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Bank of America Corp DE raised its holdings in shares of Klaviyo by 8.4% in the fourth quarter. Bank of America Corp DE now owns 276,697 shares of the company's stock worth $11,411,000 after buying an additional 21,425 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Klaviyo during the fourth quarter worth $13,800,000. Ameriprise Financial Inc. raised its holdings in shares of Klaviyo by 229.5% during the fourth quarter. Ameriprise Financial Inc. now owns 982,134 shares of the company's stock worth $40,507,000 after purchasing an additional 684,026 shares during the last quarter. PDT Partners LLC raised its holdings in shares of Klaviyo by 114.8% during the fourth quarter. PDT Partners LLC now owns 111,899 shares of the company's stock worth $4,615,000 after purchasing an additional 59,801 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Klaviyo by 16.2% during the fourth quarter. Northern Trust Corp now owns 187,888 shares of the company's stock worth $7,749,000 after purchasing an additional 26,143 shares during the last quarter. Hedge funds and other institutional investors own 45.43% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on KVYO. The Goldman Sachs Group reduced their target price on shares of Klaviyo from $51.00 to $44.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Truist Financial reduced their target price on shares of Klaviyo from $55.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Citigroup raised their target price on shares of Klaviyo from $39.00 to $48.00 and gave the stock a "neutral" rating in a report on Tuesday, February 11th. Needham & Company LLC dropped their price target on shares of Klaviyo from $56.00 to $45.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Finally, Robert W. Baird dropped their price target on shares of Klaviyo from $54.00 to $37.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. 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 data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $43.11.

Insider Buying and Selling

In other Klaviyo news, major shareholder Summit Partners L. P sold 2,000,000 shares of the business's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $32.44, for a total value of $64,880,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Stephen Eric Rowland sold 7,060 shares of the business's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $26.66, for a total transaction of $188,219.60. Following the completion of the transaction, the president now owns 447,310 shares in the company, valued at $11,925,284.60. The trade was a 1.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,073,770 shares of company stock worth $67,259,606. 49.92% of the stock is owned by insiders.

Klaviyo Stock Up 7.7%

Shares of NYSE KVYO traded up $2.57 during trading on Monday, hitting $35.96. The company had a trading volume of 529,557 shares, compared to its average volume of 1,401,333. The firm has a market capitalization of $9.82 billion, a price-to-earnings ratio of -199.83 and a beta of 1.35. Klaviyo, Inc. has a fifty-two week low of $21.26 and a fifty-two week high of $49.55. The stock has a fifty day simple moving average of $30.54 and a two-hundred day simple moving average of $37.36.

Klaviyo (NYSE:KVYO - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. The firm had revenue of $279.83 million for the quarter, compared to analyst estimates of $267.79 million. Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. Klaviyo's quarterly revenue was up 33.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.13 earnings per share. On average, analysts anticipate that Klaviyo, Inc. will post 0.04 earnings per share for the current year.

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.