Klaviyo, Inc. (NYSE:KVYO) Shares Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd boosted its holdings in Klaviyo, Inc. (NYSE:KVYO - Free Report) by 287.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,132 shares of the company's stock after acquiring an additional 26,068 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Klaviyo were worth $1,063,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in KVYO. WCM Investment Management LLC raised its stake in Klaviyo by 27.7% during the 1st quarter. WCM Investment Management LLC now owns 390,119 shares of the company's stock valued at $12,101,000 after buying an additional 84,715 shares during the last quarter. Norges Bank purchased a new stake in Klaviyo in the 4th quarter worth $25,197,000. Sei Investments Co. purchased a new stake in Klaviyo in the 4th quarter worth $1,781,000. Bank of America Corp DE increased its stake in Klaviyo by 8.4% in the 4th quarter. Bank of America Corp DE now owns 276,697 shares of the company's stock worth $11,411,000 after buying an additional 21,425 shares in the last quarter. Finally, Whale Rock Capital Management LLC increased its stake in 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 buying an additional 267,845 shares in the last quarter. 45.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Wells Fargo & Company raised shares of Klaviyo from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $32.00 to $40.00 in a report on Friday, June 13th. Scotiabank set a $35.00 price objective on shares of Klaviyo and gave the stock a "sector perform" rating in a research note on Wednesday, May 7th. Mizuho reduced their target price on shares of Klaviyo from $52.00 to $40.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Cantor Fitzgerald raised shares of Klaviyo to an "overweight" rating and set a $48.00 target price on the stock in a research report on Tuesday, June 3rd. Finally, The Goldman Sachs Group cut their price objective on shares of Klaviyo from $51.00 to $44.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $42.47.

Insiders Place Their Bets

In other Klaviyo news, President Stephen Eric Rowland sold 7,079 shares of the company's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $31.56, for a total value of $223,413.24. Following the completion of the transaction, the president owned 435,845 shares in the company, valued at approximately $13,755,268.20. This represents a 1.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Carmel Galvin sold 11,156 shares of the company's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $35.01, for a total transaction of $390,571.56. Following the completion of the transaction, the insider owned 711,805 shares of the company's stock, valued at approximately $24,920,293.05. This trade represents a 1.54% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,094,418 shares of company stock valued at $268,580,202. Insiders own 53.24% of the company's stock.

Klaviyo Stock Performance

NYSE KVYO traded up $0.59 on Monday, reaching $33.63. 311,991 shares of the company's stock traded hands, compared to its average volume of 1,782,418. Klaviyo, Inc. has a fifty-two week low of $22.12 and a fifty-two week high of $49.55. The firm has a market cap of $9.99 billion, a price-to-earnings ratio of -186.85 and a beta of 1.37. The stock has a 50 day moving average price of $33.35 and a 200-day moving average price of $35.19.

Klaviyo (NYSE:KVYO - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. The company had revenue of $279.83 million for the quarter, compared to analyst estimates of $267.79 million. Klaviyo had a negative net margin of 4.70% and a positive return on equity of 0.74%. The firm's revenue was up 33.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.13 earnings per share. As a group, equities research analysts anticipate that Klaviyo, Inc. will post 0.04 EPS for the current fiscal 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.