Quantessence Capital LLC Invests $883,000 in Klaviyo, Inc. (NYSE:KVYO)

Quantessence Capital LLC bought a new stake in Klaviyo, Inc. (NYSE:KVYO - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 21,407 shares of the company's stock, valued at approximately $883,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bank Julius Baer & Co. Ltd Zurich boosted its position in shares of Klaviyo by 8.0% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,836 shares of the company's stock worth $220,000 after acquiring an additional 359 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Klaviyo by 10.3% in the 4th quarter. Victory Capital Management Inc. now owns 6,469 shares of the company's stock valued at $267,000 after purchasing an additional 604 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Klaviyo by 4.0% during the 4th quarter. Arizona State Retirement System now owns 16,854 shares of the company's stock worth $695,000 after buying an additional 648 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Klaviyo by 77.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,874 shares of the company's stock worth $77,000 after buying an additional 818 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its stake in Klaviyo by 169.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company's stock valued at $72,000 after buying an additional 1,102 shares in the last quarter. Institutional investors own 45.43% of the company's stock.

Analyst Ratings Changes

KVYO has been the subject of a number of research reports. Needham & Company LLC increased their target price on shares of Klaviyo from $46.00 to $56.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Stephens began coverage on shares of Klaviyo in a research report on Wednesday, March 19th. They issued an "overweight" rating and a $43.00 target price on the stock. Benchmark upped their price target on shares of Klaviyo from $40.00 to $51.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. Truist Financial cut their price objective on Klaviyo from $55.00 to $40.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Finally, William Blair reiterated an "outperform" rating on shares of Klaviyo in a research report on Thursday, February 20th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $47.05.

Insider Buying and Selling at Klaviyo

In related news, major shareholder Summit Partners L. P sold 2,000,000 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $32.44, for a total value of $64,880,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Amanda Whalen sold 15,000 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $45.85, for a total transaction of $687,750.00. Following the sale, the chief financial officer now owns 376,820 shares of the company's stock, valued at $17,277,197. This trade represents a 3.83 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,088,770 shares of company stock valued at $67,947,356. Corporate insiders own 53.24% of the company's stock.

Klaviyo Price Performance

Shares of NYSE:KVYO opened at $24.69 on Tuesday. The business's 50-day moving average is $33.98 and its 200-day moving average is $38.00. Klaviyo, Inc. has a 1 year low of $21.26 and a 1 year high of $49.55. The company has a market capitalization of $6.74 billion, a price-to-earnings ratio of -137.17 and a beta of 1.39.

Klaviyo (NYSE:KVYO - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.12). Klaviyo had a positive return on equity of 0.89% and a negative net margin of 4.92%. The company had revenue of $270.16 million for the quarter, compared to analyst estimates of $257.24 million. Analysts anticipate that Klaviyo, Inc. will post 0.04 EPS for the current year.

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.

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