WCM Investment Management LLC Purchases 84,715 Shares of Klaviyo, Inc. (NYSE:KVYO)

WCM Investment Management LLC lifted its stake in shares of Klaviyo, Inc. (NYSE:KVYO - Free Report) by 27.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 390,119 shares of the company's stock after buying an additional 84,715 shares during the quarter. WCM Investment Management LLC owned about 0.14% of Klaviyo worth $12,101,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. TFC Financial Management Inc. acquired a new stake in Klaviyo in the 1st quarter valued at $27,000. CIBC Private Wealth Group LLC grew its position in Klaviyo by 169.5% in the 4th 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 period. Tower Research Capital LLC TRC grew 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 purchasing an additional 818 shares during the period. KBC Group NV acquired a new stake in Klaviyo in the 1st quarter valued at $77,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Klaviyo in the 4th quarter valued at $196,000. Institutional investors and hedge funds own 45.43% of the company's stock.

Insider Activity at Klaviyo

In related news, President Stephen Eric Rowland sold 7,079 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $34.86, for a total value of $246,773.94. Following the sale, the president directly owned 450,003 shares in the company, valued at approximately $15,687,104.58. The trade was a 1.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Amanda Whalen sold 15,000 shares of the business's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $33.47, for a total value of $502,050.00. Following the completion of the sale, the chief financial officer owned 517,831 shares in the company, valued at $17,331,803.57. This represents a 2.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,087,320 shares of company stock worth $268,247,195. 53.24% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on KVYO. Barclays lifted their price target on shares of Klaviyo from $35.00 to $38.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Needham & Company LLC reduced 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. Morgan Stanley reduced their price target on shares of Klaviyo from $50.00 to $34.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Benchmark lifted their price target on shares of Klaviyo from $43.00 to $44.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company raised shares of Klaviyo from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $32.00 to $40.00 in a research report on Friday, June 13th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Klaviyo has an average rating of "Moderate Buy" and a consensus target price of $43.21.

Klaviyo Price Performance

Shares of NYSE KVYO traded up $1.06 during mid-day trading on Friday, reaching $33.91. 941,983 shares of the company's stock were exchanged, compared to its average volume of 1,555,633. The firm has a market capitalization of $10.07 billion, a price-to-earnings ratio of -188.38 and a beta of 1.37. Klaviyo, Inc. has a 52 week low of $22.12 and a 52 week high of $49.55. The firm has a 50-day moving average price of $33.51 and a two-hundred day moving average price of $36.21.

Klaviyo (NYSE:KVYO - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. The company had revenue of $279.83 million for the quarter, compared to analysts' expectations of $267.79 million. Klaviyo had a positive return on equity of 0.74% and a negative net margin of 4.70%. The business'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 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.

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.