Nicholas Investment Partners LP Grows Stock Holdings in Klaviyo, Inc. (NYSE:KVYO)

Nicholas Investment Partners LP grew its stake in shares of Klaviyo, Inc. (NYSE:KVYO - Free Report) by 63.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 140,555 shares of the company's stock after buying an additional 54,509 shares during the quarter. Nicholas Investment Partners LP owned 0.05% of Klaviyo worth $5,796,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. CIBC Private Wealth Group LLC boosted its position in Klaviyo by 169.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company's stock valued at $72,000 after acquiring an additional 1,102 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Klaviyo by 77.5% in the 4th 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 in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Klaviyo in the 4th quarter worth approximately $196,000. US Bancorp DE bought a new stake in shares of Klaviyo in the 4th quarter worth approximately $199,000. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its position in shares of Klaviyo by 8.0% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,836 shares of the company's stock worth $220,000 after purchasing an additional 359 shares in the last quarter. Hedge funds and other institutional investors own 45.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on KVYO. Morgan Stanley dropped their price target on Klaviyo from $50.00 to $34.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Scotiabank set a $35.00 price target on Klaviyo and gave the stock a "sector perform" rating in a research report on Wednesday, May 7th. Mizuho dropped their price target on Klaviyo from $52.00 to $40.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Citigroup boosted their price objective on shares of Klaviyo from $39.00 to $48.00 and gave the stock a "neutral" rating in a report on Tuesday, February 11th. Finally, The Goldman Sachs Group decreased their price objective on shares of Klaviyo from $51.00 to $44.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Klaviyo has a consensus rating of "Moderate Buy" and an average price target of $43.11.

Insiders Place Their Bets

In other news, CFO Amanda Whalen sold 15,000 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $34.98, for a total transaction of $524,700.00. Following the completion of the sale, the chief financial officer now owns 521,627 shares in the company, valued at approximately $18,246,512.46. This represents a 2.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Stephen Eric Rowland sold 36,710 shares of the firm's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $35.08, for a total value of $1,287,786.80. Following the completion of the transaction, the president now owns 246,254 shares of the company's stock, valued at $8,638,590.32. This trade represents a 12.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,124,030 shares of company stock worth $69,016,032 over the last 90 days. Company insiders own 49.92% of the company's stock.

Klaviyo Trading Down 0.9%

Shares of NYSE:KVYO traded down $0.31 during trading on Monday, reaching $34.90. The company's stock had a trading volume of 620,123 shares, compared to its average volume of 1,461,605. The stock has a market capitalization of $9.53 billion, a PE ratio of -194.25 and a beta of 1.35. Klaviyo, Inc. has a 12 month low of $21.26 and a 12 month high of $49.55. The firm's 50 day simple moving average is $30.56 and its two-hundred day simple moving average is $37.25.

Klaviyo (NYSE:KVYO - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.02. Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. The business had revenue of $279.83 million during the quarter, compared to the consensus estimate of $267.79 million. During the same quarter last year, the firm earned $0.13 earnings per share. The firm's quarterly revenue was up 33.3% compared to the same quarter last year. Research analysts anticipate that Klaviyo, Inc. will post 0.04 EPS for the current fiscal year.

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.