Alkeon Capital Management LLC Purchases Shares of 300,000 Klaviyo, Inc. (NYSE:KVYO)

Alkeon Capital Management LLC bought a new position in shares of Klaviyo, Inc. (NYSE:KVYO - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 300,000 shares of the company's stock, valued at approximately $10,614,000. Alkeon Capital Management LLC owned about 0.11% of Klaviyo at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of KVYO. Advisors Asset Management Inc. boosted its stake in Klaviyo by 145.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company's stock worth $48,000 after purchasing an additional 808 shares during the period. nVerses Capital LLC acquired a new stake in shares of Klaviyo during the third quarter worth about $53,000. West Tower Group LLC acquired a new stake in shares of Klaviyo during the third quarter worth about $177,000. Victory Capital Management Inc. purchased a new position in shares of Klaviyo during the third quarter worth about $208,000. Finally, William Marsh Rice University acquired a new position in Klaviyo in the 3rd quarter valued at about $245,000. 45.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on KVYO shares. Barclays increased their price objective on Klaviyo from $32.00 to $41.00 and gave the stock an "overweight" rating in a research report on Friday, October 11th. KeyCorp raised Klaviyo from a "sector weight" rating to an "overweight" rating and set a $33.00 price target for the company in a report on Thursday, August 8th. Robert W. Baird boosted their price objective on shares of Klaviyo from $42.00 to $45.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Benchmark reduced their target price on shares of Klaviyo from $42.00 to $40.00 and set a "buy" rating for the company in a research note on Thursday, November 7th. Finally, Cantor Fitzgerald boosted their price target on shares of Klaviyo from $33.00 to $47.00 and gave the stock an "overweight" rating in a research note on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $39.00.

Insider Buying and Selling at Klaviyo

In related news, CFO Amanda Whalen sold 10,000 shares of Klaviyo stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $29.72, for a total transaction of $297,200.00. Following the completion of the sale, the chief financial officer now owns 422,813 shares in the company, valued at approximately $12,566,002.36. This trade represents a 2.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Allen Chaves sold 130,000 shares of the business's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $31.85, for a total transaction of $4,140,500.00. The disclosure for this sale can be found here. Insiders have sold 352,969 shares of company stock valued at $11,447,138 over the last quarter. Corporate insiders own 53.24% of the company's stock.

Klaviyo Stock Performance

KVYO stock traded up $0.54 during midday trading on Friday, hitting $37.14. 519,985 shares of the stock were exchanged, compared to its average volume of 1,182,618. The stock's 50-day moving average price is $36.62 and its 200-day moving average price is $30.04. The stock has a market cap of $10.01 billion, a price-to-earnings ratio of -206.32 and a beta of 1.13. Klaviyo, Inc. has a fifty-two week low of $21.26 and a fifty-two week high of $41.00.

Klaviyo (NYSE:KVYO - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.04. The business had revenue of $235.09 million during the quarter, compared to the consensus estimate of $226.33 million. Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. The business's revenue was up 33.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.24) EPS. Research analysts anticipate that Klaviyo, Inc. will post 0.03 EPS for the current 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.