Klaviyo, Inc. (NYSE:KVYO) Shares Sold by Cynosure Group LLC

Key Points

• Cynosure Group LLC has reduced its stake in Klaviyo, Inc. by 27.1%, selling 52,759 shares and now holds 141,884 shares.
• Klaviyo reported an EPS of $0.16 for the quarter, exceeding the consensus estimate of $0.13, with revenue up 31.9% year-over-year.
• Institutional investors own 45.43% of Klaviyo’s stock, with major hedge funds increasing their stakes significantly in recent quarters.

Cynosure Group LLC trimmed its position in Klaviyo, Inc. (NYSE:KVYO - Free Report) by 27.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 141,884 shares of the company's stock after selling 52,759 shares during the period. Klaviyo makes up approximately 0.6% of Cynosure Group LLC's portfolio, making the stock its 24th biggest position. Cynosure Group LLC owned approximately 0.05% of Klaviyo worth $4,293,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KVYO. TFC Financial Management Inc. purchased a new stake in Klaviyo during the first quarter valued at about $27,000. CWM LLC boosted its position in Klaviyo by 227.5% during the first quarter. CWM LLC now owns 930 shares of the company's stock valued at $28,000 after buying an additional 646 shares during the period. Tower Research Capital LLC TRC boosted its position in 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 buying an additional 818 shares during the period. KBC Group NV purchased a new stake in Klaviyo during the first quarter valued at about $77,000. Finally, US Bancorp DE boosted its position in Klaviyo by 40.6% during the first quarter. US Bancorp DE now owns 6,792 shares of the company's stock valued at $206,000 after buying an additional 1,960 shares during the period. 45.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on KVYO. Needham & Company LLC dropped their target price on shares of Klaviyo from $56.00 to $45.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Wells Fargo & Company upgraded shares of Klaviyo from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $32.00 to $40.00 in a report on Friday, June 13th. TD Cowen increased their target price on shares of Klaviyo from $45.00 to $46.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Mizuho decreased their price target on shares of Klaviyo from $52.00 to $40.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Finally, Wall Street Zen raised shares of Klaviyo from a "hold" rating to a "buy" rating in a research note on Saturday. Three investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, Klaviyo presently has a consensus rating of "Moderate Buy" and an average target price of $43.65.

Insider Activity

In other Klaviyo news, insider Landon Edmond sold 9,965 shares of Klaviyo stock in a transaction on Friday, May 16th. The shares were sold at an average price of $34.85, for a total value of $347,280.25. Following the completion of the transaction, the insider owned 404,744 shares of the company's stock, valued at approximately $14,105,328.40. The trade was a 2.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Amanda Whalen sold 15,000 shares of Klaviyo stock in a transaction 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 completion of the transaction, the chief financial officer directly owned 517,831 shares of the company's stock, valued at $16,394,529.46. The trade was a 2.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,094,418 shares of company stock valued at $268,580,202 over the last quarter. Insiders own 53.24% of the company's stock.

Klaviyo Stock Up 3.7%

Klaviyo stock traded up $1.12 during midday trading on Wednesday, reaching $31.44. The stock had a trading volume of 1,109,857 shares, compared to its average volume of 1,872,419. The firm has a market cap of $9.34 billion, a price-to-earnings ratio of -125.58 and a beta of 1.36. The company has a fifty day moving average of $32.90 and a 200 day moving average of $34.48. 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 announced its earnings results on Tuesday, August 5th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $275.97 million. During the same period last year, the firm earned $0.15 earnings per share. Klaviyo's revenue was up 31.9% compared to the same quarter last year. Equities research analysts predict that Klaviyo, Inc. will post 0.04 EPS for the current 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.