Bryce Point Capital LLC Takes $877,000 Position in Klaviyo, Inc. (NYSE:KVYO)

Bryce Point Capital LLC bought a new stake in Klaviyo, Inc. (NYSE:KVYO - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 21,266 shares of the company's stock, valued at approximately $877,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. CIBC Private Wealth Group LLC lifted its stake in shares of Klaviyo by 169.5% in the 4th 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 period. SBI Securities Co. Ltd. bought a new stake in Klaviyo during the 4th quarter worth approximately $196,000. US Bancorp DE purchased a new stake in Klaviyo in the 4th quarter valued at about $199,000. Keybank National Association OH bought a new position in shares of Klaviyo during the 4th quarter worth approximately $203,000. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its stake 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 buying an additional 359 shares during the last quarter. Institutional investors and hedge funds own 45.43% of the company's stock.

Insider Activity

In other news, CFO Amanda Whalen sold 15,000 shares of Klaviyo stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $39.18, for a total transaction of $587,700.00. Following the completion of the transaction, the chief financial officer now directly owns 391,820 shares in the company, valued at approximately $15,351,507.60. This trade represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $64,880,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,086,246 shares of company stock worth $68,127,958. Corporate insiders own 53.24% of the company's stock.

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Analyst Upgrades and Downgrades

A number of brokerages have issued reports on KVYO. Canaccord Genuity Group upped their price objective on Klaviyo from $40.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Loop Capital increased their target price on shares of Klaviyo from $45.00 to $60.00 and gave the company a "buy" rating in a research report on Monday, December 23rd. Morgan Stanley upped their price objective on Klaviyo from $47.00 to $50.00 and gave the company an "equal weight" rating in a research note on Thursday, February 20th. Wells Fargo & Company reduced their target price on shares of Klaviyo from $48.00 to $45.00 and set an "equal weight" rating for the company in a research note on Thursday, February 20th. Finally, Mizuho lifted their price target on Klaviyo from $42.00 to $52.00 and gave the company an "outperform" rating in a research report on Thursday, February 20th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Klaviyo currently has a consensus rating of "Moderate Buy" and an average target price of $49.89.

Klaviyo Trading Up 2.2 %

Shares of KVYO stock traded up $0.58 during trading hours on Tuesday, hitting $27.01. 414,982 shares of the company's stock were exchanged, compared to its average volume of 1,263,605. Klaviyo, Inc. has a 12-month low of $21.26 and a 12-month high of $49.55. The company has a market capitalization of $7.38 billion, a PE ratio of -150.21 and a beta of 1.39. The business's 50 day simple moving average is $38.93 and its 200-day simple moving average is $38.71.

Klaviyo (NYSE:KVYO - Get Free Report) last released its earnings results on Wednesday, February 19th. The company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.12). The firm had revenue of $270.16 million during the quarter, compared to analysts' expectations of $257.24 million. Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. Equities analysts anticipate that Klaviyo, Inc. will post 0.04 EPS for the current 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.