Klaviyo, Inc. (NYSE:KVYO) Shares Acquired by Whale Rock Capital Management LLC

Whale Rock Capital Management LLC lifted its position in shares of Klaviyo, Inc. (NYSE:KVYO - Free Report) by 7.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,868,451 shares of the company's stock after purchasing an additional 267,845 shares during the period. Klaviyo comprises approximately 1.9% of Whale Rock Capital Management LLC's portfolio, making the stock its 21st largest position. Whale Rock Capital Management LLC owned approximately 1.43% of Klaviyo worth $159,535,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC increased its stake in Klaviyo by 21.4% in the fourth quarter. SG Americas Securities LLC now owns 10,929 shares of the company's stock valued at $451,000 after purchasing an additional 1,923 shares during the last quarter. Renaissance Capital LLC grew its position in shares of Klaviyo by 56.4% in the 4th quarter. Renaissance Capital LLC now owns 122,646 shares of the company's stock valued at $5,058,000 after buying an additional 44,245 shares during the last quarter. Wilmington Savings Fund Society FSB raised its stake in Klaviyo by 17,445.7% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 16,142 shares of the company's stock worth $666,000 after acquiring an additional 16,050 shares in the last quarter. WCM Investment Management LLC purchased a new stake in Klaviyo in the fourth quarter valued at $12,781,000. Finally, Legato Capital Management LLC lifted its holdings in shares of Klaviyo by 21.7% in the 4th quarter. Legato Capital Management LLC now owns 40,032 shares of the company's stock valued at $1,651,000 after purchasing an additional 7,142 shares during the last quarter. Institutional investors and hedge funds own 45.43% of the company's stock.

Insiders Place Their Bets

In other Klaviyo news, major shareholder Summit Partners L. P sold 2,000,000 shares of Klaviyo stock in a transaction on Friday, March 14th. The shares were sold at an average price of $32.44, for a total value of $64,880,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Stephen Eric Rowland sold 36,710 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $35.08, for a total transaction of $1,287,786.80. Following the sale, the president now directly owns 246,254 shares of the company's stock, valued at approximately $8,638,590.32. This trade represents a 12.97% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,124,030 shares of company stock worth $69,016,032. Corporate insiders own 49.92% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Mizuho cut their price target on Klaviyo from $52.00 to $40.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Robert W. Baird lowered their target price on shares of Klaviyo from $54.00 to $37.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Scotiabank set a $35.00 target price on shares of Klaviyo and gave the company a "sector perform" rating in a report on Wednesday, May 7th. Benchmark upped their price target on shares of Klaviyo from $43.00 to $44.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Finally, The Goldman Sachs Group lowered their price objective on shares of Klaviyo from $51.00 to $44.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, Klaviyo presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.11.

Klaviyo Trading Down 2.0%

Shares of KVYO opened at $34.50 on Tuesday. The stock's 50 day moving average is $30.56 and its two-hundred day moving average is $37.21. Klaviyo, Inc. has a twelve month low of $21.26 and a twelve month high of $49.55. The firm has a market capitalization of $10.25 billion, a PE ratio of -191.67 and a beta of 1.35.

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