Entropy Technologies LP Makes New Investment 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 acquired a new stake in Klaviyo, Inc. (NYSE:KVYO - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 18,963 shares of the company's stock, valued at approximately $574,000.

A number of other institutional investors also recently made changes to their positions in KVYO. Geode Capital Management LLC boosted its stake in shares of Klaviyo by 12.2% in the 4th quarter. Geode Capital Management LLC now owns 882,460 shares of the company's stock valued at $36,409,000 after purchasing an additional 96,274 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Klaviyo by 45.2% in the 4th quarter. Wells Fargo & Company MN now owns 6,171 shares of the company's stock valued at $254,000 after purchasing an additional 1,920 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Klaviyo in the 4th quarter valued at $686,000. Barclays PLC boosted its position in Klaviyo by 128.2% during the 4th quarter. Barclays PLC now owns 29,263 shares of the company's stock valued at $1,207,000 after buying an additional 16,438 shares during the period. Finally, PEAK6 LLC purchased a new stake in Klaviyo during the 4th quarter valued at $1,281,000. Hedge funds and other institutional investors own 45.43% of the company's stock.

Klaviyo Stock Performance

Shares of Klaviyo stock traded up $0.48 during trading on Friday, hitting $31.51. The company's stock had a trading volume of 2,355,299 shares, compared to its average volume of 2,421,602. The company has a fifty day simple moving average of $32.73 and a two-hundred day simple moving average of $34.20. The company has a market capitalization of $9.36 billion, a PE ratio of -126.04 and a beta of 1.36. 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 issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.03. The company had revenue of $293.12 million during the quarter, compared to analyst estimates of $275.97 million. Klaviyo had a negative net margin of 6.19% and a negative return on equity of 1.12%. Klaviyo's quarterly revenue was up 31.9% compared to the same quarter last year. During the same period last year, the business earned $0.15 EPS. As a group, analysts predict that Klaviyo, Inc. will post 0.04 EPS for the current year.

Wall Street Analyst Weigh In

KVYO has been the subject of several analyst reports. Macquarie reissued a "neutral" rating and set a $37.00 price target on shares of Klaviyo in a research report on Wednesday, August 6th. The Goldman Sachs Group dropped their price target on shares of Klaviyo from $51.00 to $44.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Scotiabank set a $35.00 price target on shares of Klaviyo and gave the company a "sector perform" rating in a research report on Wednesday, May 7th. Piper Sandler increased their price target on shares of Klaviyo from $40.00 to $55.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. Finally, Cantor Fitzgerald raised shares of Klaviyo to an "overweight" rating and set a $48.00 price target for the company in a research report on Tuesday, June 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $43.65.

Insider Buying and Selling

In other Klaviyo news, 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 value of $223,413.24. Following the completion of the transaction, the president directly owned 435,845 shares of the company's stock, valued at approximately $13,755,268.20. The trade was a 1.60% decrease in their ownership of the stock. The sale 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 dated Friday, July 11th. The stock was 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. This trade represents a 2.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,044,158 shares of company stock worth $266,823,776 in the last three months. 49.92% of the stock is owned by corporate insiders.

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.