Assetmark Inc. Takes Position in Klaviyo, Inc. (NYSE:KVYO)

Key Points

• Assetmark Inc. invested approximately $455,000 in Klaviyo, purchasing 15,022 shares during the 1st quarter.
• Recent insider sales included Carmel Galvin selling 11,156 shares for over $390,000 and Stephen Eric Rowland selling 7,079 shares worth around $223,000.
• Klaviyo's stock is currently down 4.5%, with a market cap of approximately $8.82 billion and a consensus rating of "Moderate Buy" from analysts.

Assetmark Inc. bought a new position in Klaviyo, Inc. (NYSE:KVYO - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm bought 15,022 shares of the company's stock, valued at approximately $455,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Klaviyo by 9.1% during the fourth quarter. Vanguard Group Inc. now owns 7,721,855 shares of the company's stock worth $318,449,000 after buying an additional 646,628 shares during the period. Whale Rock Capital Management LLC grew its holdings in Klaviyo by 7.4% during the fourth quarter. Whale Rock Capital Management LLC now owns 3,868,451 shares of the company's stock worth $159,535,000 after acquiring an additional 267,845 shares during the period. Franklin Resources Inc. grew its holdings in Klaviyo by 48.6% during the fourth quarter. Franklin Resources Inc. now owns 1,943,523 shares of the company's stock worth $80,151,000 after acquiring an additional 635,962 shares during the period. Voya Investment Management LLC grew its holdings in Klaviyo by 47.1% during the fourth quarter. Voya Investment Management LLC now owns 1,851,679 shares of the company's stock worth $76,363,000 after acquiring an additional 592,884 shares during the period. Finally, D. E. Shaw & Co. Inc. grew its holdings in Klaviyo by 195.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,310,227 shares of the company's stock worth $54,034,000 after acquiring an additional 866,749 shares during the period. 45.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Klaviyo news, insider Carmel Galvin sold 11,156 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $35.01, for a total value 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Amanda Whalen sold 15,000 shares of the business's stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $31.66, for a total transaction of $474,900.00. Following the transaction, the chief financial officer directly owned 517,831 shares in the company, valued at $16,394,529.46. The trade was a 2.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,094,418 shares of company stock worth $268,580,202. 53.24% of the stock is owned by insiders.

Wall Street Analyst Weigh In

KVYO has been the topic of a number of recent analyst reports. Barclays upped their price objective on Klaviyo from $35.00 to $38.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Mizuho dropped their price target on Klaviyo from $52.00 to $40.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. The Goldman Sachs Group lowered their target price on Klaviyo from $51.00 to $44.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Truist Financial reduced their target price on Klaviyo from $55.00 to $40.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Finally, Stifel Nicolaus reduced their price target on Klaviyo from $45.00 to $40.00 and set a "buy" rating for the company in a research report on Tuesday, July 15th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $42.47.

Klaviyo Stock Up 3.0%

Shares of KVYO stock traded up $0.88 during mid-day trading on Monday, hitting $30.60. 2,234,366 shares of the company's stock were exchanged, compared to its average volume of 1,160,232. Klaviyo, Inc. has a fifty-two week low of $22.12 and a fifty-two week high of $49.55. The stock has a market cap of $9.09 billion, a price-to-earnings ratio of -170.00 and a beta of 1.36. The stock has a 50-day simple moving average of $33.16 and a two-hundred day simple moving average of $34.92.

Klaviyo (NYSE:KVYO - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. The firm had revenue of $279.83 million for the quarter, compared to analysts' expectations of $267.79 million. Klaviyo had a positive return on equity of 0.74% and a negative net margin of 4.70%. Klaviyo's revenue for the quarter was up 33.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.13 earnings per share. As a group, analysts anticipate that Klaviyo, Inc. will post 0.04 earnings per share for the current fiscal 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.