Blair William & Co. IL Purchases 14,102 Shares of Klaviyo, Inc. $KVYO

Key Points

• Blair William & Co. IL increased its stake in Klaviyo, Inc. by 6.1%, acquiring an additional 14,102 shares and holding a total of 245,255 shares valued at approximately $8.24 million.
• A major shareholder, Summit Partners L.P., sold 4 million shares of Klaviyo stock for around $127.48 million, while insiders have sold a total of over 5.5 million shares in the last 90 days.
• Klaviyo's stock recently opened at $24.51, with a 52-week range between $23.77 and $49.55, and it reported quarterly earnings of $0.16 EPS.

Blair William & Co. IL boosted its position in Klaviyo, Inc. (NYSE:KVYO - Free Report) by 6.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 245,255 shares of the company's stock after acquiring an additional 14,102 shares during the period. Blair William & Co. IL owned 0.08% of Klaviyo worth $8,236,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. KLP Kapitalforvaltning AS boosted its holdings in Klaviyo by 43.2% in the second quarter. KLP Kapitalforvaltning AS now owns 19,900 shares of the company's stock valued at $668,000 after acquiring an additional 6,000 shares during the last quarter. Ballentine Partners LLC bought a new position in Klaviyo during the second quarter worth about $345,000. Counterpoint Mutual Funds LLC bought a new position in Klaviyo during the second quarter worth about $731,000. Moody National Bank Trust Division bought a new position in Klaviyo during the second quarter worth about $1,182,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Klaviyo during the second quarter worth about $256,000. Institutional investors own 45.43% of the company's stock.

Insiders Place Their Bets

In related news, major shareholder Summit Partners L. P sold 4,000,000 shares of Klaviyo stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $31.87, for a total value of $127,480,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ed Hallen sold 89,748 shares of the company's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $31.71, for a total value of $2,845,909.08. Following the sale, the director owned 177,776 shares in the company, valued at approximately $5,637,276.96. This represents a 33.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,585,503 shares of company stock worth $177,012,731 in the last 90 days. Company insiders own 49.92% of the company's stock.

Klaviyo Stock Performance

Shares of Klaviyo stock opened at $24.51 on Friday. The business's 50 day simple moving average is $31.14 and its 200 day simple moving average is $31.57. Klaviyo, Inc. has a 52-week low of $23.77 and a 52-week high of $49.55. The firm has a market cap of $7.35 billion, a PE ratio of -98.02 and a beta of 1.26.

Klaviyo (NYSE:KVYO - Get Free Report) last announced its earnings results on Thursday, September 25th. The company reported $0.16 earnings per share (EPS) for the quarter. Klaviyo had a negative return on equity of 1.12% and a negative net margin of 6.19%.The business had revenue of $293.12 million for the quarter. As a group, equities research analysts predict that Klaviyo, Inc. will post 0.04 EPS for the current year.

Analyst Upgrades and Downgrades

KVYO has been the topic of a number of recent analyst reports. Wall Street Zen cut Klaviyo from a "buy" rating to a "hold" rating in a report on Sunday, August 17th. Needham & Company LLC restated a "buy" rating and set a $45.00 target price on shares of Klaviyo in a report on Friday, September 26th. Wells Fargo & Company initiated coverage on Klaviyo in a report on Tuesday, September 30th. They set an "overweight" rating and a $40.00 target price on the stock. Robert W. Baird reduced their target price on Klaviyo from $44.00 to $39.00 and set an "outperform" rating on the stock in a report on Friday, September 26th. Finally, Morgan Stanley raised Klaviyo from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $40.00 to $50.00 in a research report on Friday, September 19th. Nineteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $44.30.

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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