Klaviyo, Inc. (NYSE:KVYO) Shares Bought by WCM Investment Management LLC

WCM Investment Management LLC raised its holdings in Klaviyo, Inc. (NYSE:KVYO - Free Report) by 27.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 390,119 shares of the company's stock after acquiring an additional 84,715 shares during the period. WCM Investment Management LLC owned approximately 0.14% of Klaviyo worth $12,101,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. US Bancorp DE bought a new stake in Klaviyo in the 4th quarter worth approximately $199,000. SBI Securities Co. Ltd. purchased a new stake in Klaviyo during the fourth quarter valued at about $196,000. Charles Schwab Investment Management Inc. grew its stake in shares of Klaviyo by 9.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 464,459 shares of the company's stock valued at $19,154,000 after buying an additional 40,102 shares during the last quarter. Keybank National Association OH purchased a new position in shares of Klaviyo in the fourth quarter worth about $203,000. Finally, Victory Capital Management Inc. lifted its stake in shares of Klaviyo by 10.3% in the 4th quarter. Victory Capital Management Inc. now owns 6,469 shares of the company's stock valued at $267,000 after acquiring an additional 604 shares during the last quarter. Institutional investors own 45.43% of the company's stock.

Insider Transactions at Klaviyo

In other news, major shareholder Summit Partners L. P sold 4,000,000 shares of the business's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $33.35, for a total value of $133,400,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Landon Edmond sold 9,965 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $34.85, for a total transaction of $347,280.25. Following the completion of the transaction, the insider directly owned 404,744 shares of the company's stock, valued at $14,105,328.40. This trade represents a 2.40% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,087,320 shares of company stock worth $268,247,195. 49.92% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

KVYO has been the subject of several analyst reports. Piper Sandler increased their price target on shares of Klaviyo from $35.00 to $40.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Stephens initiated coverage on Klaviyo in a report on Wednesday, March 19th. They set an "overweight" rating and a $43.00 target price for the company. Benchmark lifted their price target on shares of Klaviyo from $43.00 to $44.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Barclays upped their price objective on shares of Klaviyo from $35.00 to $38.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Finally, Wells Fargo & Company upgraded Klaviyo from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $32.00 to $40.00 in a research note on Friday, June 13th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $43.21.

Klaviyo Trading Up 3.2%

Shares of KVYO traded up $1.06 during trading hours on Friday, reaching $33.91. 941,983 shares of the stock traded hands, compared to its average volume of 1,550,624. The company's 50-day moving average price is $33.42 and its two-hundred day moving average price is $36.36. Klaviyo, Inc. has a 52-week low of $22.12 and a 52-week high of $49.55. The company has a market cap of $10.07 billion, a P/E ratio of -188.38 and a beta of 1.37.

Klaviyo (NYSE:KVYO - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.14 earnings per share (EPS) 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 negative net margin of 4.70% and a positive return on equity of 0.74%. Klaviyo's revenue for the quarter was up 33.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.13 EPS. On average, research analysts forecast that Klaviyo, Inc. will post 0.04 EPS for the current year.

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.