21,407 Shares in Klaviyo, Inc. (NYSE:KVYO) Acquired by Quantessence Capital LLC

Quantessence Capital LLC purchased a new stake in shares of Klaviyo, Inc. (NYSE:KVYO - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 21,407 shares of the company's stock, valued at approximately $883,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC lifted its holdings in shares of Klaviyo by 169.5% during the fourth 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 last quarter. Tower Research Capital LLC TRC raised its stake in Klaviyo by 77.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company's stock valued at $77,000 after buying an additional 818 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Klaviyo during the fourth quarter valued at $196,000. US Bancorp DE bought a new stake in Klaviyo in the fourth quarter worth $199,000. Finally, Keybank National Association OH purchased a new stake in shares of Klaviyo in the fourth quarter worth $203,000. 45.43% of the stock is owned by hedge funds and other institutional investors.

Klaviyo Stock Up 2.2 %

Shares of Klaviyo stock traded up $0.64 during trading hours on Friday, reaching $29.58. 1,818,319 shares of the stock traded hands, compared to its average volume of 1,334,505. The company has a 50 day moving average price of $32.38 and a 200 day moving average price of $37.75. Klaviyo, Inc. has a one year low of $21.26 and a one year high of $49.55. The firm has a market capitalization of $8.08 billion, a price-to-earnings ratio of -164.33 and a beta of 1.39.

Klaviyo (NYSE:KVYO - Get Free Report) last announced its earnings results on Wednesday, February 19th. The company reported ($0.06) earnings per share (EPS) 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 business had revenue of $270.16 million for the quarter, compared to the consensus estimate of $257.24 million. Sell-side analysts anticipate that Klaviyo, Inc. will post 0.04 earnings per share for the current year.

Insider Activity

In other Klaviyo news, major shareholder Summit Partners L. P sold 2,000,000 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $32.44, for a total transaction of $64,880,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Jeff Fagnan purchased 3,900 shares of the company's stock in a transaction on Wednesday, April 9th. The stock was purchased at an average price of $25.77 per share, with a total value of $100,503.00. Following the completion of the transaction, the insider now owns 3,900 shares of the company's stock, valued at approximately $100,503. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 2,088,770 shares of company stock valued at $67,947,356 in the last 90 days. Company insiders own 53.24% of the company's stock.

Analysts Set New Price Targets

KVYO has been the subject of several recent analyst reports. Mizuho lowered their price target on Klaviyo from $52.00 to $40.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Scotiabank decreased their target price on shares of Klaviyo from $45.00 to $31.00 and set a "sector perform" rating for the company in a report on Thursday. Stifel Nicolaus upped their target price on shares of Klaviyo from $45.00 to $54.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Canaccord Genuity Group raised their price target on shares of Klaviyo from $40.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Finally, William Blair restated an "outperform" rating on shares of Klaviyo in a report on Thursday, February 20th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.47.

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.