Cresset Asset Management LLC Buys Shares of 12,342 Klaviyo, Inc. $KVYO

Key Points

• Cresset Asset Management LLC has invested $373,000 in Klaviyo, Inc. by purchasing 12,342 shares during the first quarter.
• Klaviyo reported earnings of $0.16 per share in its last quarterly results, surpassing analysts' expectations of $0.13, with a revenue increase of 31.9% year-over-year.
• Recent analyst reports have shown a mix of upgrades and downgrades, with an average price target of $43.65 and a "Moderate Buy" rating for Klaviyo's stock.

Cresset Asset Management LLC bought a new position in Klaviyo, Inc. (NYSE:KVYO - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm bought 12,342 shares of the company's stock, valued at approximately $373,000.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Klaviyo by 9.7% in the 1st quarter. Vanguard Group Inc. now owns 8,467,933 shares of the company's stock worth $256,240,000 after purchasing an additional 746,078 shares during the period. Whale Rock Capital Management LLC increased its stake in Klaviyo by 7.4% in the 4th quarter. Whale Rock Capital Management LLC now owns 3,868,451 shares of the company's stock worth $159,535,000 after purchasing an additional 267,845 shares during the period. Lord Abbett & CO. LLC increased its stake in Klaviyo by 105.6% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,538,220 shares of the company's stock worth $46,546,000 after purchasing an additional 790,146 shares during the period. D. E. Shaw & Co. Inc. increased 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 worth $54,034,000 after purchasing an additional 866,749 shares during the period. Finally, Two Sigma Investments LP increased 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 worth $46,372,000 after purchasing an additional 389,779 shares during the period. Hedge funds and other institutional investors own 45.43% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on KVYO. Wells Fargo & Company raised shares of Klaviyo from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $32.00 to $40.00 in a report on Friday, June 13th. Piper Sandler raised their price target on shares of Klaviyo from $40.00 to $55.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Benchmark raised their price target on shares of Klaviyo from $44.00 to $46.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. The Goldman Sachs Group cut their price target on shares of Klaviyo from $51.00 to $44.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Finally, Needham & Company LLC cut their price target on shares of Klaviyo from $56.00 to $45.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Eighteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Klaviyo has a consensus rating of "Moderate Buy" and an average target price of $43.65.

Insider Buying and Selling at Klaviyo

In other Klaviyo news, CEO Andrew Bialecki sold 226,702 shares of the company's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $31.50, for a total value of $7,141,113.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Carmel Galvin sold 11,155 shares of the company's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $31.67, for a total value of $353,278.85. Following the completion of the transaction, the insider owned 675,833 shares of the company's stock, valued at $21,403,631.11. The trade was a 1.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,314,085 shares of company stock valued at $143,324,991 in the last quarter. Insiders own 49.92% of the company's stock.

Klaviyo Stock Down 0.6%

KVYO traded down $0.20 during midday trading on Friday, hitting $32.31. 547,997 shares of the company traded hands, compared to its average volume of 1,891,594. The firm has a market capitalization of $9.69 billion, a PE ratio of -129.20 and a beta of 1.36. The company's 50-day moving average is $32.34 and its 200 day moving average is $33.32. Klaviyo, Inc. has a 52 week low of $23.77 and a 52 week high of $49.55.

Klaviyo (NYSE:KVYO - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.03. Klaviyo had a negative net margin of 6.19% and a negative return on equity of 1.12%. The company had revenue of $293.12 million for the quarter, compared to the consensus estimate of $275.97 million. During the same quarter last year, the firm posted $0.15 earnings per share. The firm's revenue was up 31.9% compared to the same quarter last year. Klaviyo has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, sell-side analysts predict that Klaviyo, Inc. will post 0.04 earnings per share for the current fiscal year.

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.