Legato Capital Management LLC Has $1.65 Million Position in Klaviyo, Inc. (NYSE:KVYO)

Legato Capital Management LLC boosted its stake in Klaviyo, Inc. (NYSE:KVYO - Free Report) by 21.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,032 shares of the company's stock after buying an additional 7,142 shares during the quarter. Legato Capital Management LLC's holdings in Klaviyo were worth $1,651,000 at the end of the most recent quarter.

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

Klaviyo Price Performance

Shares of Klaviyo stock traded down $0.99 during trading hours on Friday, hitting $47.01. The company's stock had a trading volume of 1,458,917 shares, compared to its average volume of 1,069,195. Klaviyo, Inc. has a 12 month low of $21.26 and a 12 month high of $49.55. The stock has a 50 day moving average of $43.11 and a 200 day moving average of $37.21. The company has a market capitalization of $12.68 billion, a PE ratio of -261.17 and a beta of 0.60.

Analysts Set New Price Targets

A number of research firms have commented on KVYO. Loop Capital boosted their price objective on Klaviyo from $45.00 to $60.00 and gave the stock a "buy" rating in a research note on Monday, December 23rd. Citigroup boosted their target price on Klaviyo from $39.00 to $48.00 and gave the stock a "neutral" rating in a research report on Tuesday. KeyCorp boosted their target price on Klaviyo from $42.00 to $45.00 and gave the stock an "overweight" rating in a research report on Friday, December 13th. 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. Finally, Wells Fargo & Company boosted their target price on Klaviyo from $41.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, Klaviyo currently has a consensus rating of "Moderate Buy" and an average target price of $44.29.

Insiders Place Their Bets

In other news, insider Landon Edmond sold 40,000 shares of the company's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.56, for a total transaction of $1,382,400.00. Following the completion of the transaction, the insider now directly owns 236,621 shares of the company's stock, valued at $8,177,621.76. This represents a 14.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Amanda Whalen sold 15,000 shares of the company's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.56, for a total value of $518,400.00. Following the transaction, the chief financial officer now directly owns 395,616 shares of the company's stock, valued at $13,672,488.96. This represents a 3.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 174,072 shares of company stock worth $6,778,517 over the last ninety days. 53.24% of the stock is currently owned by corporate insiders.

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.