Klaviyo, Inc. (NYSE:KVYO) is Summit Partners L P's Largest Position

Summit Partners L P lessened its stake in shares of Klaviyo, Inc. (NYSE:KVYO - Free Report) by 2.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 46,427,778 shares of the company's stock after selling 1,313,851 shares during the period. Klaviyo accounts for approximately 73.3% of Summit Partners L P's portfolio, making the stock its biggest position. Summit Partners L P owned about 17.41% of Klaviyo worth $1,642,615,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of KVYO. nVerses Capital LLC purchased a new position in Klaviyo during the third quarter worth about $53,000. EntryPoint Capital LLC purchased a new stake in shares of Klaviyo during the first quarter worth $71,000. William Marsh Rice University purchased a new stake in shares of Klaviyo during the third quarter worth $245,000. Creative Planning purchased a new stake in shares of Klaviyo during the third quarter worth $254,000. Finally, SG Americas Securities LLC purchased a new position in Klaviyo in the second quarter valued at $236,000. Institutional investors and hedge funds own 45.43% of the company's stock.

Insider Activity at Klaviyo

In related news, major shareholder Summit Partners L. P sold 1,300 shares of the firm's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $31.64, for a total value of $41,132.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder Summit Partners L. P sold 1,300 shares of the firm's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $31.64, for a total value of $41,132.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Stephen Eric Rowland sold 18,114 shares of the firm's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $37.19, for a total transaction of $673,659.66. Following the completion of the sale, the president now owns 192,488 shares of the company's stock, valued at approximately $7,158,628.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 871,477 shares of company stock worth $27,610,861 over the last 90 days. Company insiders own 53.24% of the company's stock.

Klaviyo Trading Down 14.8 %

Shares of KVYO traded down $5.98 during mid-day trading on Thursday, hitting $34.38. 4,827,882 shares of the company's stock were exchanged, compared to its average volume of 1,148,680. Klaviyo, Inc. has a fifty-two week low of $21.26 and a fifty-two week high of $41.00. The firm has a market capitalization of $9.17 billion, a P/E ratio of -24.44 and a beta of 1.13. The business's 50 day moving average is $35.12 and its two-hundred day moving average is $28.55.

Klaviyo (NYSE:KVYO - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.15 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.05. The firm had revenue of $222.21 million during the quarter, compared to the consensus estimate of $212.34 million. Klaviyo had a negative net margin of 42.15% and a negative return on equity of 32.19%. The firm's revenue was up 35.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.09 earnings per share. On average, equities research analysts forecast that Klaviyo, Inc. will post -0.01 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on KVYO shares. Robert W. Baird increased their target price on Klaviyo from $42.00 to $45.00 and gave the company an "outperform" rating in a report on Thursday. Wells Fargo & Company reissued a "buy" rating on shares of Klaviyo in a report on Friday, October 18th. Piper Sandler increased their target price on Klaviyo from $34.00 to $45.00 and gave the company an "overweight" rating in a report on Friday, October 18th. Canaccord Genuity Group raised their price objective on Klaviyo from $32.00 to $40.00 and gave the stock a "buy" rating in a report on Thursday. Finally, KeyCorp raised Klaviyo from a "sector weight" rating to an "overweight" rating and set a $33.00 price objective on the stock in a report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $38.65.

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.