Quadrature Capital Ltd Trims Holdings in Klaviyo, Inc. (NYSE:KVYO)

Quadrature Capital Ltd lessened its position in Klaviyo, Inc. (NYSE:KVYO - Free Report) by 68.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,174 shares of the company's stock after selling 42,060 shares during the quarter. Quadrature Capital Ltd's holdings in Klaviyo were worth $678,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Advisors Asset Management Inc. boosted its position 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 during the period. nVerses Capital LLC purchased a new position in Klaviyo in the third quarter valued at $53,000. West Tower Group LLC purchased a new position in Klaviyo in the third quarter valued at $177,000. Victory Capital Management Inc. acquired a new position in Klaviyo during the 3rd quarter worth $208,000. Finally, William Marsh Rice University purchased a new stake in Klaviyo during the 3rd quarter worth about $245,000. Institutional investors and hedge funds own 45.43% of the company's stock.

Klaviyo Stock Performance

NYSE:KVYO traded up $0.67 during mid-day trading on Monday, reaching $40.41. The stock had a trading volume of 1,226,372 shares, compared to its average volume of 1,183,687. Klaviyo, Inc. has a twelve month low of $21.26 and a twelve month high of $41.00. The business has a 50 day simple moving average of $37.00 and a 200 day simple moving average of $30.60. The firm has a market capitalization of $10.90 billion, a price-to-earnings ratio of -224.49 and a beta of 0.98.

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

Analysts Set New Price Targets

KVYO has been the topic of a number of recent research reports. Macquarie restated a "neutral" rating and set a $36.00 target price on shares of Klaviyo in a research note on Friday, November 8th. Needham & Company LLC boosted their target price on shares of Klaviyo from $40.00 to $46.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Piper Sandler raised their price target on Klaviyo from $34.00 to $45.00 and gave the company an "overweight" rating in a research note on Friday, October 18th. Cantor Fitzgerald upped their price objective on Klaviyo from $33.00 to $47.00 and gave the stock an "overweight" rating in a research report on Thursday, November 7th. Finally, Benchmark cut their price objective on shares of Klaviyo from $42.00 to $40.00 and set a "buy" rating on the stock in a report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $38.94.

Insider Activity

In other news, President Stephen Eric Rowland sold 18,114 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $31.24, for a total value of $565,881.36. Following the sale, the president now directly owns 192,488 shares in the company, valued at $6,013,325.12. This represents a 8.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Summit Partners L. P sold 107,205 shares of Klaviyo stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $31.33, for a total value of $3,358,732.65. The disclosure for this sale can be found here. Insiders sold 342,969 shares of company stock worth $11,149,938 in the last 90 days. 53.24% of the stock is currently owned by corporate insiders.

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.