Klaviyo, Inc. $KVYO Holdings Increased by WCM Investment Management LLC

Key Points

• WCM Investment Management LLC increased its stake in Klaviyo, owning 619,165 shares after a 58.7% growth during the second quarter, valuing their holdings at approximately $20.5 million.
• Insider activity includes major shareholder Summit Partners L.P. selling 4 million shares for nearly $127.5 million, while other insiders sold a combined 5.57 million shares over the past ninety days.
• Wall Street analysts have mixed opinions on Klaviyo's stock, with target prices adjusted between $39.00 and $46.00, and a general rating of "Moderate Buy" for the stock on average.

WCM Investment Management LLC grew its stake in shares of Klaviyo, Inc. (NYSE:KVYO - Free Report) by 58.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 619,165 shares of the company's stock after buying an additional 229,046 shares during the quarter. WCM Investment Management LLC owned about 0.21% of Klaviyo worth $20,463,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in KVYO. Lord Abbett & CO. LLC raised its holdings in shares of 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 in the last quarter. Vanguard Group Inc. raised its holdings in shares of 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 in the last quarter. 1832 Asset Management L.P. raised its holdings in shares of Klaviyo by 38.7% in the 1st quarter. 1832 Asset Management L.P. now owns 2,248,800 shares of the company's stock worth $68,049,000 after purchasing an additional 627,500 shares in the last quarter. Trexquant Investment LP raised its holdings in shares of Klaviyo by 472.3% in the 1st quarter. Trexquant Investment LP now owns 371,707 shares of the company's stock worth $11,248,000 after purchasing an additional 306,762 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of Klaviyo by 162.0% in the 1st quarter. Acadian Asset Management LLC now owns 495,729 shares of the company's stock worth $14,986,000 after purchasing an additional 306,496 shares in the last quarter. 45.43% of the stock is currently owned by institutional investors.

Insider Activity at Klaviyo

In related news, major shareholder Summit Partners L. P sold 4,000,000 shares of the business's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $31.87, for a total transaction of $127,480,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ed Hallen sold 89,748 shares of the business's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $31.71, for a total transaction of $2,845,909.08. Following the transaction, the director directly owned 177,776 shares in the company, valued at $5,637,276.96. The trade was a 33.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,571,345 shares of company stock valued at $176,565,904. Company insiders own 49.92% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Robert W. Baird dropped their target price on shares of Klaviyo from $44.00 to $39.00 and set an "outperform" rating on the stock in a report on Friday, September 26th. Zacks Research upgraded shares of Klaviyo to a "strong sell" rating in a report on Friday, August 8th. Stifel Nicolaus dropped their target price on shares of Klaviyo from $45.00 to $40.00 and set a "buy" rating on the stock in a research report on Tuesday, July 15th. Benchmark lifted their target price on shares of Klaviyo from $44.00 to $46.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $45.00 target price on shares of Klaviyo in a research report on Friday, September 26th. Nineteen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Klaviyo presently has an average rating of "Moderate Buy" and an average target price of $44.30.

Klaviyo Price Performance

Klaviyo stock opened at $24.07 on Thursday. The firm's 50 day simple moving average is $30.67 and its 200-day simple moving average is $31.41. The company has a market cap of $7.22 billion, a P/E ratio of -96.30 and a beta of 1.26. Klaviyo, Inc. has a fifty-two week low of $23.61 and a fifty-two week high of $49.55.

Klaviyo (NYSE:KVYO - Get Free Report) last announced its quarterly earnings data on Thursday, September 25th. The company reported $0.16 EPS for the quarter. Klaviyo had a negative net margin of 6.19% and a negative return on equity of 1.12%. The firm had revenue of $293.12 million for the quarter. On average, analysts expect that Klaviyo, Inc. will post 0.04 EPS 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.

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