Millennium Management LLC Has $3.81 Million Position in Klaviyo, Inc. (NYSE:KVYO)

Millennium Management LLC trimmed its stake in shares of Klaviyo, Inc. (NYSE:KVYO - Free Report) by 86.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 92,312 shares of the company's stock after selling 577,538 shares during the quarter. Millennium Management LLC's holdings in Klaviyo were worth $3,807,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Focus Partners Wealth bought a new position in Klaviyo during the 4th quarter valued at $38,870,000. Deutsche Bank AG lifted its stake in Klaviyo by 7,134.8% during the fourth quarter. Deutsche Bank AG now owns 94,921 shares of the company's stock valued at $3,915,000 after purchasing an additional 93,609 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in Klaviyo by 195.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,310,227 shares of the company's stock worth $54,034,000 after buying an additional 866,749 shares in the last quarter. Cetera Investment Advisers acquired a new position in Klaviyo in the fourth quarter worth approximately $277,000. Finally, Balyasny Asset Management L.P. increased its holdings in shares of Klaviyo by 43.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 613,204 shares of the company's stock valued at $25,289,000 after buying an additional 184,672 shares in the last quarter. 45.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KVYO has been the subject of several research reports. Mizuho reduced their price objective on Klaviyo from $52.00 to $40.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Robert W. Baird decreased their price target on Klaviyo from $54.00 to $37.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Canaccord Genuity Group lifted their price target on Klaviyo from $40.00 to $50.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Cantor Fitzgerald raised shares of Klaviyo to an "overweight" rating and set a $48.00 price objective for the company in a research note on Tuesday. Finally, Piper Sandler raised their target price on shares of Klaviyo from $35.00 to $40.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $42.79.

Insider Transactions at Klaviyo

In related news, major shareholder Summit Partners L. P sold 2,000,000 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $32.44, for a total value of $64,880,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amanda Whalen sold 15,000 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $33.54, for a total value of $503,100.00. Following the sale, the chief financial officer now directly owns 349,623 shares of the company's stock, valued at $11,726,355.42. The trade was a 4.11% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,124,030 shares of company stock worth $201,016,032. 49.92% of the stock is owned by corporate insiders.

Klaviyo Stock Up 2.1%

Shares of KVYO traded up $0.73 during mid-day trading on Wednesday, hitting $34.70. 2,713,365 shares of the company's stock were exchanged, compared to its average volume of 1,512,710. The firm has a fifty day moving average of $30.76 and a two-hundred day moving average of $36.97. Klaviyo, Inc. has a twelve month low of $21.26 and a twelve month high of $49.55. The stock has a market cap of $10.31 billion, a price-to-earnings ratio of -192.78 and a beta of 1.44.

Klaviyo (NYSE:KVYO - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. The firm had revenue of $279.83 million during the quarter, compared to analysts' expectations of $267.79 million. During the same period in the prior year, the company posted $0.13 earnings per share. Klaviyo's revenue for the quarter was up 33.3% on a year-over-year basis. On average, equities analysts predict that Klaviyo, Inc. will post 0.04 earnings per share for the current year.

Klaviyo Company 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.