Klaviyo, Inc. (NYSE:KVYO) Shares Sold by Holocene Advisors LP

Holocene Advisors LP cut its stake in Klaviyo, Inc. (NYSE:KVYO - Free Report) by 40.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,975 shares of the company's stock after selling 46,647 shares during the quarter. Holocene Advisors LP's holdings in Klaviyo were worth $2,405,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

KVYO has been the topic of several recent analyst reports. Macquarie reiterated a "neutral" rating and issued a $36.00 price target on shares of Klaviyo in a report on Friday, November 8th. Stifel Nicolaus initiated coverage on Klaviyo in a research report on Tuesday, October 22nd. They set a "buy" rating and a $45.00 target price for the company. Wells Fargo & Company reissued a "buy" rating on shares of Klaviyo in a research note on Friday, October 18th. Benchmark decreased their price objective on shares of Klaviyo from $42.00 to $40.00 and set a "buy" rating for the company in a report on Thursday, November 7th. Finally, Piper Sandler boosted their price objective on shares of Klaviyo from $34.00 to $45.00 and gave the company an "overweight" rating in a research report on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $39.00.

Klaviyo Stock Performance

KVYO traded up $1.67 on Friday, hitting $39.74. The company had a trading volume of 1,840,039 shares, compared to its average volume of 1,183,499. The stock has a market capitalization of $10.72 billion, a price-to-earnings ratio of -220.78 and a beta of 0.97. The stock has a fifty day moving average price of $36.90 and a 200-day moving average price of $30.42. Klaviyo, Inc. has a 12-month low of $21.26 and a 12-month high of $41.00.

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

Insider Transactions at Klaviyo

In related news, major shareholder Summit Partners L. P sold 107,205 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $31.33, for a total value of $3,358,732.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Stephen Eric Rowland sold 18,114 shares of Klaviyo stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $31.24, for a total transaction of $565,881.36. Following the completion of the sale, the president now owns 192,488 shares of the company's stock, valued at $6,013,325.12. This trade represents a 8.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 342,969 shares of company stock valued at $11,149,938. Corporate insiders own 53.24% of the company's stock.

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.