Oak Ridge Investments LLC Grows Position in Klaviyo, Inc. (NYSE:KVYO)

Key Points

• Oak Ridge Investments LLC increased its position in Klaviyo, Inc. by 28.1% in the first quarter, owning 51,147 shares valued at $1.548 million after purchasing an additional 11,228 shares.
• Klaviyo's stock rose 3.8% recently, with a market cap of $9.35 billion, while the company reported earnings of $0.16 EPS, exceeding analysts' expectations.
• Insider activity revealed that 8 million shares valued at $268 million were sold in the last quarter, indicating significant changes in ownership among major shareholders.

Oak Ridge Investments LLC increased its position in shares of Klaviyo, Inc. (NYSE:KVYO - Free Report) by 28.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 51,147 shares of the company's stock after purchasing an additional 11,228 shares during the period. Oak Ridge Investments LLC's holdings in Klaviyo were worth $1,548,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. TFC Financial Management Inc. bought a new stake in Klaviyo during the 1st quarter valued at about $27,000. CWM LLC boosted its position in Klaviyo by 227.5% in the 1st quarter. CWM LLC now owns 930 shares of the company's stock valued at $28,000 after buying an additional 646 shares during the period. Caitong International Asset Management Co. Ltd boosted its position in Klaviyo by 217.9% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,421 shares of the company's stock valued at $43,000 after buying an additional 974 shares during the period. Tower Research Capital LLC TRC boosted its position in Klaviyo by 77.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company's stock valued at $77,000 after buying an additional 818 shares during the period. Finally, KBC Group NV purchased a new stake in Klaviyo in the 1st quarter valued at about $77,000. 45.43% of the stock is owned by hedge funds and other institutional investors.

Klaviyo Stock Up 3.8%

KVYO opened at $31.47 on Thursday. The firm's fifty day simple moving average is $32.84 and its two-hundred day simple moving average is $34.46. The company has a market cap of $9.35 billion, a price-to-earnings ratio of -125.88 and a beta of 1.36. Klaviyo, Inc. has a 52-week low of $23.77 and a 52-week high of $49.55.

Klaviyo (NYSE:KVYO - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.13 by $0.03. The business had revenue of $293.12 million during the quarter, compared to analysts' expectations of $275.97 million. Klaviyo had a negative net margin of 6.19% and a negative return on equity of 1.12%. The company's quarterly revenue was up 31.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.15 earnings per share. On average, research analysts forecast that Klaviyo, Inc. will post 0.04 EPS for the current year.

Insider Activity

In other Klaviyo news, major shareholder Summit Partners L. P sold 4,000,000 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $33.35, for a total transaction of $133,400,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Stephen Eric Rowland sold 7,079 shares of the stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $31.56, for a total transaction of $223,413.24. Following the transaction, the president directly owned 435,845 shares of the company's stock, valued at approximately $13,755,268.20. This trade represents a 1.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,087,358 shares of company stock valued at $268,333,102 in the last quarter. Insiders own 49.92% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on KVYO. Needham & Company LLC lowered their price target on shares of Klaviyo from $56.00 to $45.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Truist Financial lowered their price target on shares of Klaviyo from $55.00 to $40.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Macquarie reaffirmed a "neutral" rating and issued a $37.00 price target on shares of Klaviyo in a research report on Wednesday, August 6th. TD Cowen upped their price target on shares of Klaviyo from $45.00 to $46.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Finally, Citigroup raised shares of Klaviyo from a "neutral" rating to a "buy" rating and upped their price target for the stock from $40.00 to $50.00 in a research report on Thursday, August 7th. Three analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $43.65.

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.

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