Entropy Technologies LP Invests $574,000 in Klaviyo, Inc. (NYSE:KVYO)

Key Points

• Entropy Technologies LP has acquired a new position in Klaviyo, Inc. during the first quarter, purchasing 18,963 shares valued at approximately $574,000.
• Several institutional investors, including Geode Capital Management and Wells Fargo, increased their stakes in Klaviyo, contributing to a total institutional ownership of 45.43% of the company's stock.
• Klaviyo reported a quarterly revenue of $293.12 million and an earnings per share (EPS) of $0.16, exceeding analyst expectations and reflecting a 31.9% year-over-year revenue growth.

Entropy Technologies LP bought a new stake in Klaviyo, Inc. (NYSE:KVYO - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 18,963 shares of the company's stock, valued at approximately $574,000.

A number of other institutional investors have also modified their holdings of the stock. Invesco Ltd. purchased a new stake in shares of Klaviyo in the first quarter valued at approximately $204,000. Swiss National Bank lifted its position in shares of Klaviyo by 22.4% in the first quarter. Swiss National Bank now owns 139,800 shares of the company's stock valued at $4,230,000 after acquiring an additional 25,600 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Klaviyo by 9.7% in the first quarter. Vanguard Group Inc. now owns 8,467,933 shares of the company's stock valued at $256,240,000 after acquiring an additional 746,078 shares in the last quarter. Encompass More Asset Management purchased a new stake in shares of Klaviyo in the first quarter valued at $549,000. Finally, Blair William & Co. IL lifted its position in shares of Klaviyo by 12.1% in the first quarter. Blair William & Co. IL now owns 231,153 shares of the company's stock valued at $6,995,000 after acquiring an additional 24,929 shares in the last quarter. Institutional investors and hedge funds own 45.43% of the company's stock.

Insider Transactions at Klaviyo

In other news, CFO Amanda Whalen sold 15,000 shares of the stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $31.66, for a total transaction of $474,900.00. Following the sale, the chief financial officer directly owned 517,831 shares in the company, valued at approximately $16,394,529.46. This represents a 2.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Summit Partners L. P sold 4,000,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $33.35, for a total value of $133,400,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,044,158 shares of company stock worth $266,823,776. 49.92% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. The Goldman Sachs Group dropped 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. TD Cowen upped their target price on Klaviyo from $45.00 to $46.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Zacks Research upgraded Klaviyo to a "strong sell" rating in a research note on Friday, August 8th. Scotiabank set a $35.00 target price on Klaviyo and gave the company a "sector perform" rating in a research note on Wednesday, May 7th. Finally, Needham & Company LLC dropped their price target on Klaviyo from $56.00 to $45.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $43.65.

Klaviyo Price Performance

KVYO traded up $0.48 on Friday, reaching $31.51. The company's stock had a trading volume of 2,355,299 shares, compared to its average volume of 1,908,257. The business's 50 day moving average is $32.78 and its 200 day moving average is $34.38. Klaviyo, Inc. has a 1 year low of $23.77 and a 1 year high of $49.55. The stock has a market cap of $9.36 billion, a price-to-earnings ratio of -126.04 and a beta of 1.36.

Klaviyo (NYSE:KVYO - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.03. The company had revenue of $293.12 million for the quarter, compared to the consensus estimate of $275.97 million. Klaviyo had a negative return on equity of 1.12% and a negative net margin of 6.19%. Klaviyo's quarterly revenue was up 31.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.15 EPS. As a group, research analysts forecast that Klaviyo, Inc. will post 0.04 earnings per share for the current fiscal year.

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.