Washington Harbour Partners LP Acquires New Shares in Klaviyo, Inc. (NYSE:KVYO)

Washington Harbour Partners LP bought a new position in Klaviyo, Inc. (NYSE:KVYO - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 43,500 shares of the company's stock, valued at approximately $1,794,000. Klaviyo makes up 3.3% of Washington Harbour Partners LP's portfolio, making the stock its 16th biggest holding.

Several other institutional investors and hedge funds have also modified their holdings of the business. Whale Rock Capital Management LLC boosted its holdings in shares of Klaviyo by 7.4% in the 4th quarter. Whale Rock Capital Management LLC now owns 3,868,451 shares of the company's stock worth $159,535,000 after acquiring an additional 267,845 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of Klaviyo in the 4th quarter worth approximately $2,099,000. Two Sigma Advisers LP boosted its holdings in shares of Klaviyo by 48.2% in the 4th quarter. Two Sigma Advisers LP now owns 997,900 shares of the company's stock worth $41,153,000 after acquiring an additional 324,400 shares in the last quarter. Two Sigma Investments LP boosted its holdings in shares of Klaviyo by 53.1% in the 4th quarter. Two Sigma Investments LP now owns 1,124,433 shares of the company's stock worth $46,372,000 after acquiring an additional 389,779 shares in the last quarter. Finally, Snowden Capital Advisors LLC acquired a new position in shares of Klaviyo in the 4th quarter worth approximately $3,980,000. 45.43% of the stock is owned by institutional investors and hedge funds.

Klaviyo Price Performance

Shares of KVYO stock traded up $0.71 during trading hours on Thursday, reaching $33.72. The company had a trading volume of 2,191,117 shares, compared to its average volume of 1,497,097. The company has a 50 day moving average of $30.59 and a 200 day moving average of $37.12. The firm has a market cap of $10.01 billion, a price-to-earnings ratio of -187.33 and a beta of 1.35. Klaviyo, Inc. has a 1-year low of $21.26 and a 1-year high of $49.55.

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

Insider Activity

In related news, President Stephen Eric Rowland sold 36,710 shares of the company's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $35.08, for a total value of $1,287,786.80. Following the completion of the sale, the president now owns 246,254 shares in the company, valued at $8,638,590.32. This represents a 12.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Summit Partners L. P sold 4,000,000 shares of the company's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $33.00, for a total transaction 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 valued at $201,016,032 in the last 90 days. 49.92% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

KVYO has been the topic of several recent analyst reports. Robert W. Baird reduced their target price on Klaviyo from $54.00 to $37.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. William Blair reaffirmed an "outperform" rating on shares of Klaviyo in a report on Thursday, February 20th. Stephens began coverage on Klaviyo in a report on Wednesday, March 19th. They set an "overweight" rating and a $43.00 price objective on the stock. The Goldman Sachs Group reduced their price objective on Klaviyo from $51.00 to $44.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Finally, Stifel Nicolaus upped their price objective on Klaviyo from $45.00 to $54.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Klaviyo presently has a consensus rating of "Moderate Buy" and a consensus price target of $43.11.

Klaviyo Company 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.