35,190 Shares in Klaviyo, Inc. (NYSE:KVYO) Bought by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp acquired 35,190 shares of Klaviyo, Inc. (NYSE:KVYO) for approximately $1,065,000, indicating significant institutional interest in the company.
• Multiple analysts have recently adjusted their target prices for Klaviyo, with Cantor Fitzgerald upgrading the stock to "overweight" and setting a target price of $48.00, while others have lowered their estimates.
• Klaviyo reported a revenue of $279.83 million for the last quarter, which surpassed analysts' expectations, reflecting a 33.3% year-over-year growth.

Alberta Investment Management Corp bought a new position in shares of Klaviyo, Inc. (NYSE:KVYO - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 35,190 shares of the company's stock, valued at approximately $1,065,000.

A number of other large investors have also recently added to or reduced their stakes in KVYO. Whale Rock Capital Management LLC grew its holdings in shares of Klaviyo by 7.4% in the 4th quarter. Whale Rock Capital Management LLC now owns 3,868,451 shares of the company's stock valued at $159,535,000 after acquiring an additional 267,845 shares in the last quarter. Voya Investment Management LLC lifted its stake in Klaviyo by 47.1% in the 4th quarter. Voya Investment Management LLC now owns 1,851,679 shares of the company's stock valued at $76,363,000 after purchasing an additional 592,884 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its stake in Klaviyo by 195.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,310,227 shares of the company's stock valued at $54,034,000 after purchasing an additional 866,749 shares during the last quarter. Two Sigma Investments LP lifted its stake in Klaviyo by 53.1% in the 4th quarter. Two Sigma Investments LP now owns 1,124,433 shares of the company's stock valued at $46,372,000 after purchasing an additional 389,779 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its stake in Klaviyo by 48.2% in the 4th quarter. Two Sigma Advisers LP now owns 997,900 shares of the company's stock valued at $41,153,000 after purchasing an additional 324,400 shares during the last quarter. Institutional investors own 45.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on KVYO shares. Cantor Fitzgerald upgraded shares of Klaviyo to an "overweight" rating and set a $48.00 target price for the company in a research note on Tuesday, June 3rd. Needham & Company LLC cut their target price on shares of Klaviyo from $56.00 to $45.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Stifel Nicolaus cut their target price on shares of Klaviyo from $45.00 to $40.00 and set a "buy" rating for the company in a research note on Tuesday, July 15th. Morgan Stanley cut their price objective on shares of Klaviyo from $50.00 to $34.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Finally, Truist Financial cut their price objective on shares of Klaviyo from $55.00 to $40.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Klaviyo has a consensus rating of "Moderate Buy" and an average target price of $42.47.

Insider Buying and Selling

In related news, CFO Amanda Whalen sold 15,000 shares of Klaviyo stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $31.66, for a total value of $474,900.00. Following the transaction, the chief financial officer directly owned 517,831 shares of the company's stock, valued at $16,394,529.46. This trade represents a 2.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Carmel Galvin sold 11,156 shares of Klaviyo stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $35.01, for a total transaction of $390,571.56. Following the completion of the transaction, the insider directly owned 711,805 shares in the company, valued at $24,920,293.05. This trade represents a 1.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,094,418 shares of company stock valued at $268,580,202 in the last quarter. Corporate insiders own 53.24% of the company's stock.

Klaviyo Trading Down 4.5%

NYSE KVYO opened at $29.71 on Monday. Klaviyo, Inc. has a 1-year low of $22.12 and a 1-year high of $49.55. The company has a 50 day moving average of $33.16 and a 200-day moving average of $34.92. The company has a market cap of $8.82 billion, a price-to-earnings ratio of -165.05 and a beta of 1.36.

Klaviyo (NYSE:KVYO - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. Klaviyo had a negative net margin of 4.70% and a positive return on equity of 0.74%. The company had revenue of $279.83 million during the quarter, compared to the consensus estimate of $267.79 million. During the same period in the previous year, the business earned $0.13 earnings per share. The firm's quarterly revenue was up 33.3% on a year-over-year basis. On average, equities research analysts forecast that Klaviyo, Inc. will post 0.04 earnings per share for the current 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.

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