27,300 Shares in Klaviyo, Inc. (NYSE:KVYO) Bought by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC bought a new stake in shares of Klaviyo, Inc. (NYSE:KVYO - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The firm bought 27,300 shares of the company's stock, valued at approximately $966,000.

Several other hedge funds have also modified their holdings of the stock. Victory Capital Management Inc. purchased a new stake in shares of Klaviyo during the 3rd quarter valued at about $208,000. Aigen Investment Management LP purchased a new stake in Klaviyo during the 3rd quarter worth approximately $335,000. Lisanti Capital Growth LLC purchased a new stake in Klaviyo during the 3rd quarter worth approximately $5,513,000. Mayflower Financial Advisors LLC increased its holdings in Klaviyo by 181.4% during the 3rd quarter. Mayflower Financial Advisors LLC now owns 684,948 shares of the company's stock worth $24,233,000 after purchasing an additional 441,500 shares during the last quarter. Finally, SpiderRock Advisors LLC increased its holdings in Klaviyo by 1,571.7% during the 3rd quarter. SpiderRock Advisors LLC now owns 501,500 shares of the company's stock worth $17,743,000 after purchasing an additional 471,500 shares during the last quarter. 45.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Klaviyo

In related news, CFO Amanda Whalen sold 10,000 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $29.72, for a total transaction of $297,200.00. Following the sale, the chief financial officer now directly owns 422,813 shares in the company, valued at $12,566,002.36. This represents a 2.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Stephen Eric Rowland sold 18,114 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $37.19, for a total value of $673,659.66. Following the sale, the president now owns 192,488 shares in the company, valued at approximately $7,158,628.72. This trade represents a 8.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 659,711 shares of company stock valued at $21,036,946 in the last quarter. Corporate insiders own 53.24% of the company's stock.

Klaviyo Trading Up 0.7 %

NYSE KVYO traded up $0.26 on Thursday, reaching $36.93. The stock had a trading volume of 1,472,100 shares, compared to its average volume of 1,176,064. The business has a 50 day moving average price of $35.53 and a 200 day moving average price of $28.97. Klaviyo, Inc. has a 1 year low of $21.26 and a 1 year high of $41.00. The company has a market capitalization of $9.85 billion, a price-to-earnings ratio of -205.27 and a beta of 1.13.

Klaviyo (NYSE:KVYO - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 earnings per share 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 analysts' expectations of $226.33 million. Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. The firm's revenue was up 33.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.24) EPS. On average, analysts anticipate that Klaviyo, Inc. will post -0.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on KVYO shares. Barclays lifted their price objective on Klaviyo from $32.00 to $41.00 and gave the stock an "overweight" rating in a report on Friday, October 11th. Canaccord Genuity Group lifted their target price on Klaviyo from $32.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Stifel Nicolaus assumed coverage on Klaviyo in a research report on Tuesday, October 22nd. They issued a "buy" rating and a $45.00 target price for the company. Needham & Company LLC boosted their price objective on Klaviyo from $40.00 to $46.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company restated a "buy" rating on shares of Klaviyo in a research report on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Klaviyo currently has a consensus rating of "Moderate Buy" and an average price target of $39.00.

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.