Klaviyo, Inc. $KVYO Stock Acquired by Morangie Management LLC

Key Points

• Morangie Management increased its Klaviyo stake by 35.3% in the third quarter, purchasing 142,153 additional shares to hold 545,319 shares valued at approximately $8.6 million. Institutional investors own 45.43% of the company.
• Analysts maintain a generally positive outlook, with Klaviyo receiving a “Moderate Buy” consensus rating and an average price target of $27.14, despite several recent target-price reductions.
• Klaviyo reported quarterly revenue of $370.58 million, up 26.4% year over year, while matching expectations with earnings of $0.19 per share. However, insiders sold more than 5.27 million shares worth $93.8 million over the past 90 days.

Morangie Management LLC raised its position in shares of Klaviyo, Inc. (NYSE:KVYO - Free Report) by 35.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 545,319 shares of the company's stock after purchasing an additional 142,153 shares during the period. Klaviyo makes up approximately 7.0% of Morangie Management LLC's investment portfolio, making the stock its 4th biggest position. Morangie Management LLC owned 0.19% of Klaviyo worth $8,578,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Optiver Holding B.V. acquired a new position in shares of Klaviyo during the 1st quarter worth $39,000. Rockefeller Capital Management L.P. lifted its holdings in shares of Klaviyo by 2,641.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 3,207 shares of the company's stock worth $104,000 after acquiring an additional 3,090 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Klaviyo by 2,085.1% in the first quarter. EverSource Wealth Advisors LLC now owns 3,802 shares of the company's stock worth $74,000 after acquiring an additional 3,628 shares during the last quarter. Nykredit A S bought a new position in shares of Klaviyo in the second quarter worth about $90,000. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Klaviyo in the 3rd quarter valued at approximately $101,000. 45.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

KVYO has been the subject of a number of research analyst reports. TD Cowen lowered their price objective on shares of Klaviyo from $27.00 to $26.00 and set a "buy" rating for the company in a research report on Thursday, August 6th. The Goldman Sachs Group set a $26.00 price target on Klaviyo and gave the company a "buy" rating in a research note on Wednesday, June 24th. Wall Street Zen downgraded Klaviyo from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Truist Financial reduced their price objective on Klaviyo from $35.00 to $30.00 and set a "buy" rating on the stock in a research report on Thursday, August 6th. Finally, Mizuho set a $28.00 target price on Klaviyo in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Klaviyo currently has an average rating of "Moderate Buy" and an average target price of $27.14.

Klaviyo Stock Performance

KVYO stock opened at $18.10 on Friday. The company has a market capitalization of $5.15 billion, a P/E ratio of 85.05 and a beta of 0.67. The company has a fifty day moving average price of $17.41 and a 200-day moving average price of $16.98. Klaviyo, Inc. has a 52-week low of $12.53 and a 52-week high of $33.35.

Klaviyo (NYSE:KVYO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.19 earnings per share for the quarter, hitting the consensus estimate of $0.19. The company had revenue of $370.58 million for the quarter, compared to analysts' expectations of $362.08 million. Klaviyo had a net margin of 0.49% and a return on equity of 5.67%. Klaviyo's revenue for the quarter was up 26.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.16 earnings per share. As a group, sell-side analysts forecast that Klaviyo, Inc. will post 0.20 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Klaviyo news, Director Ed Hallen sold 98,782 shares of the firm's stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $20.48, for a total transaction of $2,023,055.36. Following the completion of the transaction, the director owned 94,457 shares in the company, valued at approximately $1,934,479.36. This trade represents a 51.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Landon Edmond sold 53,473 shares of the company's stock in a transaction on Friday, August 28th. The shares were sold at an average price of $20.01, for a total transaction of $1,069,994.73. Following the completion of the sale, the insider directly owned 485,969 shares in the company, valued at approximately $9,724,239.69. This represents a 9.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 5,275,468 shares of company stock valued at $93,822,653 over the last 90 days. 37.42% of the stock is currently owned by corporate insiders.

Klaviyo Profile

Klaviyo, Inc NYSE: KVYO provides a marketing automation and customer data platform designed primarily for businesses that sell directly to consumers. Its software helps companies collect, organize and analyze customer data, then use that information to create targeted and personalized marketing campaigns.

The company's platform supports email, SMS and mobile push messaging, as well as automated workflows, audience segmentation, customer analytics, sign-up forms and related campaign-management tools.

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