Renaissance Capital LLC Sells 19,180 Shares of Klaviyo, Inc. $KVYO

Key Points

• Renaissance Capital LLC reduced its holdings in Klaviyo, Inc. by 17.6%, selling 19,180 shares and holding a total of 90,088 shares worth $3,025,000.
• Multiple hedge funds have recently adjusted their positions in Klaviyo, with Vanguard Group increasing its stake by 9.7% and Raymond James Financial raising its holdings by 85.4%.
• Analysts have set a consensus price target of $44.30 for Klaviyo's stock, with 19 ratings signaling a Buy, highlighting positive outlook for the company.

Renaissance Capital LLC lessened its holdings in Klaviyo, Inc. (NYSE:KVYO - Free Report) by 17.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,088 shares of the company's stock after selling 19,180 shares during the quarter. Klaviyo makes up approximately 2.1% of Renaissance Capital LLC's investment portfolio, making the stock its 19th largest position. Renaissance Capital LLC's holdings in Klaviyo were worth $3,025,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Klaviyo by 9.7% during the 1st quarter. Vanguard Group Inc. now owns 8,467,933 shares of the company's stock worth $256,240,000 after purchasing an additional 746,078 shares during the last quarter. Encompass More Asset Management bought a new position in Klaviyo during the 1st quarter worth approximately $549,000. Raymond James Financial Inc. raised its holdings in Klaviyo by 85.4% during the 1st quarter. Raymond James Financial Inc. now owns 545,159 shares of the company's stock worth $16,497,000 after purchasing an additional 251,104 shares during the last quarter. WCM Investment Management LLC raised its holdings in Klaviyo by 27.7% during the 1st quarter. WCM Investment Management LLC now owns 390,119 shares of the company's stock worth $12,101,000 after purchasing an additional 84,715 shares during the last quarter. Finally, Jump Financial LLC bought a new position in Klaviyo during the 1st quarter worth approximately $3,249,000. Institutional investors own 45.43% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on KVYO. Cantor Fitzgerald upgraded shares of Klaviyo to an "overweight" rating and set a $48.00 price target for the company in a report on Tuesday, June 3rd. Benchmark raised their price objective on shares of Klaviyo from $44.00 to $46.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Piper Sandler reaffirmed an "overweight" rating and set a $50.00 price objective (down previously from $55.00) on shares of Klaviyo in a research report on Friday. Robert W. Baird reduced their price objective on shares of Klaviyo from $44.00 to $39.00 and set an "outperform" rating for the company in a research report on Friday. Finally, Citigroup raised shares of Klaviyo from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $40.00 to $50.00 in a research report on Thursday, August 7th. Nineteen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $44.30.

Insiders Place Their Bets

In other Klaviyo news, CFO Amanda Whalen sold 15,000 shares of Klaviyo stock in a transaction on Friday, September 12th. The shares were sold at an average price of $31.50, for a total transaction of $472,500.00. Following the transaction, the chief financial officer directly owned 481,719 shares of the company's stock, valued at $15,174,148.50. The trade was a 3.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Bialecki sold 211,358 shares of Klaviyo stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $35.45, for a total transaction of $7,492,641.10. The disclosure for this sale can be found here. Insiders have sold a total of 5,288,771 shares of company stock worth $169,116,344 in the last quarter. Insiders own 53.24% of the company's stock.

Klaviyo Trading Down 0.5%

NYSE KVYO opened at $31.51 on Tuesday. The company has a fifty day simple moving average of $32.29 and a 200 day simple moving average of $32.02. Klaviyo, Inc. has a 12-month low of $23.77 and a 12-month high of $49.55. The company has a market cap of $9.45 billion, a P/E ratio of -126.05 and a beta of 1.36.

Klaviyo (NYSE:KVYO - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.03. Klaviyo had a negative net margin of 6.19% and a negative return on equity of 1.12%. The business had revenue of $293.12 million during the quarter, compared to the consensus estimate of $275.97 million. During the same quarter last year, the firm posted $0.15 EPS. Klaviyo's revenue was up 31.9% compared to the same quarter last year. Klaviyo has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Sell-side analysts predict that Klaviyo, Inc. will post 0.04 EPS for the current 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.

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