Voloridge Investment Management LLC Raises Position in Klaviyo, Inc. (NYSE:KVYO)

Voloridge Investment Management LLC boosted its stake in Klaviyo, Inc. (NYSE:KVYO - Free Report) by 15.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 922,832 shares of the company's stock after purchasing an additional 125,352 shares during the quarter. Voloridge Investment Management LLC owned about 0.34% of Klaviyo worth $38,058,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. CIBC Private Wealth Group LLC boosted its position in Klaviyo by 169.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company's stock valued at $72,000 after purchasing an additional 1,102 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Klaviyo by 77.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company's stock worth $77,000 after purchasing an additional 818 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Klaviyo during the fourth quarter worth approximately $196,000. US Bancorp DE bought a new position in shares of Klaviyo during the fourth quarter worth approximately $199,000. Finally, Keybank National Association OH bought a new position in shares of Klaviyo during the fourth quarter worth approximately $203,000. Institutional investors own 45.43% of the company's stock.

Klaviyo Trading Up 1.9%

Shares of KVYO stock traded up $0.62 during trading on Tuesday, hitting $34.11. The company's stock had a trading volume of 304,265 shares, compared to its average volume of 1,899,781. The company has a market cap of $10.13 billion, a PE ratio of -189.40 and a beta of 1.35. The business has a fifty day moving average of $30.63 and a 200-day moving average of $37.08. Klaviyo, Inc. has a 52 week low of $21.26 and a 52 week high of $49.55.

Klaviyo (NYSE:KVYO - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $267.79 million. During the same quarter in the prior year, the business earned $0.13 earnings per share. 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 EPS for the current year.

Insiders Place Their Bets

In other Klaviyo news, CFO Amanda Whalen sold 15,000 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $33.54, for a total transaction of $503,100.00. Following the sale, the chief financial officer now owns 349,623 shares in the company, valued at $11,726,355.42. This represents a 4.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Summit Partners L. P sold 4,000,000 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $33.00, for a total value of $132,000,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 6,124,030 shares of company stock worth $201,016,032 over the last 90 days. Corporate insiders own 49.92% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on KVYO shares. Mizuho lowered their price objective on Klaviyo from $52.00 to $40.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Canaccord Genuity Group raised their price objective on Klaviyo from $40.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Scotiabank set a $35.00 target price on Klaviyo and gave the stock a "sector perform" rating in a report on Wednesday, May 7th. Stephens assumed coverage on Klaviyo in a report on Wednesday, March 19th. They set an "overweight" rating and a $43.00 target price on the stock. Finally, Wells Fargo & Company lifted their price objective on Klaviyo from $26.00 to $32.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $43.11.

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.