Klaviyo, Inc. (NYSE:KVYO) Stake Raised by PDT Partners LLC

PDT Partners LLC raised its stake in Klaviyo, Inc. (NYSE:KVYO - Free Report) by 114.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 111,899 shares of the company's stock after purchasing an additional 59,801 shares during the quarter. PDT Partners LLC's holdings in Klaviyo were worth $4,615,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of KVYO. Northern Trust Corp raised its holdings in shares of Klaviyo by 16.2% during the 4th quarter. Northern Trust Corp now owns 187,888 shares of the company's stock valued at $7,749,000 after buying an additional 26,143 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Klaviyo by 5.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 14,285 shares of the company's stock valued at $589,000 after purchasing an additional 677 shares during the period. Nebula Research & Development LLC raised its stake in shares of Klaviyo by 16.1% during the fourth quarter. Nebula Research & Development LLC now owns 16,508 shares of the company's stock valued at $681,000 after purchasing an additional 2,284 shares during the period. Lord Abbett & CO. LLC acquired a new position in shares of Klaviyo during the fourth quarter worth $30,851,000. Finally, Voya Investment Management LLC boosted its stake in shares of Klaviyo by 47.1% in the fourth quarter. Voya Investment Management LLC now owns 1,851,679 shares of the company's stock valued at $76,363,000 after purchasing an additional 592,884 shares during the period. Hedge funds and other institutional investors own 45.43% of the company's stock.

Insider Activity

In other Klaviyo news, President Stephen Eric Rowland sold 36,710 shares of the business's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $35.08, for a total transaction of $1,287,786.80. Following the sale, the president now directly owns 246,254 shares in the company, valued at approximately $8,638,590.32. The trade was a 12.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Summit Partners L. P sold 2,000,000 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $32.44, for a total transaction of $64,880,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,088,770 shares of company stock valued at $67,947,356. Insiders own 53.24% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on KVYO shares. Truist Financial dropped their price target on shares of Klaviyo from $55.00 to $40.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Citigroup boosted their price target on Klaviyo from $39.00 to $48.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 11th. Morgan Stanley lowered their price objective on Klaviyo from $50.00 to $34.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Stifel Nicolaus increased their target price on Klaviyo from $45.00 to $54.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Finally, Canaccord Genuity Group lifted their price target on shares of Klaviyo from $40.00 to $50.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $43.47.

Klaviyo Stock Up 4.1 %

NYSE KVYO traded up $1.30 during trading hours on Friday, hitting $32.83. The company had a trading volume of 2,056,124 shares, compared to its average volume of 1,358,144. Klaviyo, Inc. has a fifty-two week low of $21.26 and a fifty-two week high of $49.55. The firm has a market cap of $8.97 billion, a P/E ratio of -182.39 and a beta of 1.39. The business has a fifty day simple moving average of $31.34 and a 200-day simple moving average of $37.58.

Klaviyo (NYSE:KVYO - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.12). Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. The firm had revenue of $270.16 million during the quarter, compared to the consensus estimate of $257.24 million. Equities analysts forecast 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.