Whale Rock Capital Management LLC Purchases 267,845 Shares of Klaviyo, Inc. (NYSE:KVYO)

Whale Rock Capital Management LLC lifted its holdings in shares of Klaviyo, Inc. (NYSE:KVYO - Free Report) by 7.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,868,451 shares of the company's stock after acquiring an additional 267,845 shares during the quarter. Klaviyo makes up 1.9% of Whale Rock Capital Management LLC's portfolio, making the stock its 21st biggest position. Whale Rock Capital Management LLC owned 1.43% of Klaviyo worth $159,535,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Focus Partners Wealth bought a new position in Klaviyo in the fourth quarter worth $38,870,000. D. E. Shaw & Co. Inc. raised its holdings in Klaviyo by 195.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,310,227 shares of the company's stock worth $54,034,000 after purchasing an additional 866,749 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in Klaviyo in the fourth quarter worth $30,851,000. Ameriprise Financial Inc. raised its holdings in Klaviyo by 229.5% in the fourth quarter. Ameriprise Financial Inc. now owns 982,134 shares of the company's stock worth $40,507,000 after purchasing an additional 684,026 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Klaviyo by 9.1% in the fourth quarter. Vanguard Group Inc. now owns 7,721,855 shares of the company's stock worth $318,449,000 after purchasing an additional 646,628 shares in the last quarter. Institutional investors own 45.43% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Cantor Fitzgerald increased their price objective on Klaviyo from $47.00 to $54.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. Mizuho decreased their price objective on Klaviyo from $52.00 to $40.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Wells Fargo & Company lifted their price target on Klaviyo from $26.00 to $32.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Robert W. Baird lowered 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. Finally, Stifel Nicolaus lifted their price target on Klaviyo from $45.00 to $54.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $43.11.

Insider Buying and Selling

In other Klaviyo news, major shareholder Summit Partners L. P sold 4,000,000 shares of the business's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $33.00, for a total transaction of $132,000,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Jeff Fagnan purchased 3,900 shares of the business's stock in a transaction on Wednesday, April 9th. The shares were purchased at an average price of $25.77 per share, with a total value of $100,503.00. Following the completion of the purchase, the insider now owns 3,900 shares in the company, valued at approximately $100,503. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 6,124,030 shares of company stock worth $201,016,032. 49.92% of the stock is owned by corporate insiders.

Klaviyo Price Performance

NYSE KVYO traded down $0.27 during trading hours on Friday, hitting $33.43. The company's stock had a trading volume of 1,797,863 shares, compared to its average volume of 1,504,482. Klaviyo, Inc. has a 12 month low of $21.26 and a 12 month high of $49.55. The company's 50 day simple moving average is $30.62 and its two-hundred day simple moving average is $37.06. The company has a market cap of $9.93 billion, a P/E ratio of -185.74 and a beta of 1.35.

Klaviyo (NYSE:KVYO - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.14 EPS for the quarter, topping 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 company had revenue of $279.83 million during the quarter, compared to the consensus estimate of $267.79 million. During the same period last year, the company earned $0.13 EPS. Klaviyo's revenue for the quarter was up 33.3% on a year-over-year basis. As a group, research analysts predict that Klaviyo, Inc. will post 0.04 earnings per share for the current fiscal year.

Klaviyo 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.