Blair William & Co. IL Raises Stake in Klaviyo, Inc. (NYSE:KVYO)

Key Points

• Blair William & Co. IL increased its stake in Klaviyo, Inc. by 12.1%, acquiring an additional 24,929 shares and holding approximately 0.08% of the company worth $6,995,000 at the end of the most recent quarter.
• Several other institutional investors also enhanced their positions in Klaviyo, with WCM Investment Management LLC increasing its stake by 27.7% and Two Sigma Advisers LP by 48.2% during the same period.
• Klaviyo recently reported $0.16 earnings per share for the quarter, exceeding estimates, and its revenue reached $293.12 million, marking a 31.9% year-over-year increase.

Blair William & Co. IL grew its stake in Klaviyo, Inc. (NYSE:KVYO - Free Report) by 12.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 231,153 shares of the company's stock after acquiring an additional 24,929 shares during the period. Blair William & Co. IL owned 0.08% of Klaviyo worth $6,995,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in KVYO. TFC Financial Management Inc. bought a new position in shares of Klaviyo during the first quarter valued at approximately $27,000. CWM LLC boosted its stake in shares of Klaviyo by 227.5% during the first quarter. CWM LLC now owns 930 shares of the company's stock valued at $28,000 after purchasing an additional 646 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in shares of Klaviyo by 169.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company's stock valued at $72,000 after purchasing an additional 1,102 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Klaviyo by 77.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company's stock valued at $77,000 after purchasing an additional 818 shares in the last quarter. Finally, KBC Group NV bought a new position in shares of Klaviyo during the first quarter valued at approximately $77,000. 45.43% of the stock is currently owned by institutional investors.

Klaviyo Trading Down 4.9%

Shares of NYSE:KVYO traded down $1.68 on Friday, hitting $32.35. 1,969,369 shares of the company were exchanged, compared to its average volume of 1,866,426. Klaviyo, Inc. has a 1-year low of $23.77 and a 1-year high of $49.55. The stock's 50 day moving average price is $33.09 and its 200 day moving average price is $34.79.

Klaviyo (NYSE:KVYO - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.03. The firm had revenue of $293.12 million during the quarter, compared to analysts' expectations of $275.97 million. Klaviyo had a negative net margin of 6.19% and a negative return on equity of 1.12%. The business's revenue was up 31.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.15 EPS. On average, equities research analysts anticipate that Klaviyo, Inc. will post 0.04 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on KVYO shares. Benchmark increased their price objective on shares of Klaviyo from $44.00 to $46.00 and gave the company a "buy" rating in a research note on Wednesday. Barclays increased their price objective on shares of Klaviyo from $35.00 to $38.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Stifel Nicolaus dropped their price objective on shares of Klaviyo from $45.00 to $40.00 and set a "buy" rating on the stock in a research note on Tuesday, July 15th. Citigroup upgraded shares of Klaviyo from a "neutral" rating to a "buy" rating and raised their target price for the company from $40.00 to $50.00 in a research note on Thursday. Finally, TD Cowen lifted their price target on shares of Klaviyo from $45.00 to $46.00 and gave the stock a "buy" rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $43.65.

Insider Buying and Selling

In other Klaviyo news, CFO Amanda Whalen sold 15,000 shares of the firm's stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $31.66, for a total value of $474,900.00. Following the sale, the chief financial officer directly owned 517,831 shares of the company's stock, valued at approximately $16,394,529.46. This trade represents a 2.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Stephen Eric Rowland sold 7,079 shares of Klaviyo stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $31.56, for a total transaction of $223,413.24. Following the completion of the sale, the president owned 435,845 shares in the company, valued at approximately $13,755,268.20. This trade represents a 1.60% decrease in their position. 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 90 days. Corporate insiders own 49.92% of the company's stock.

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.