Renaissance Capital LLC Has $5.06 Million Stake in Klaviyo, Inc. (NYSE:KVYO)

Renaissance Capital LLC lifted its holdings in shares of Klaviyo, Inc. (NYSE:KVYO - Free Report) by 56.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 122,646 shares of the company's stock after buying an additional 44,245 shares during the period. Klaviyo accounts for approximately 3.3% of Renaissance Capital LLC's holdings, making the stock its 13th biggest position. Renaissance Capital LLC's holdings in Klaviyo were worth $5,058,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Whale Rock Capital Management LLC boosted its holdings in shares of Klaviyo by 608.9% during the third quarter. Whale Rock Capital Management LLC now owns 3,600,606 shares of the company's stock valued at $127,389,000 after acquiring an additional 3,092,725 shares during the period. SpiderRock Advisors LLC boosted its stake in Klaviyo by 1,571.7% during the 3rd quarter. SpiderRock Advisors LLC now owns 501,500 shares of the company's stock valued at $17,743,000 after purchasing an additional 471,500 shares during the period. Mayflower Financial Advisors LLC boosted its stake in Klaviyo by 181.4% during the 3rd quarter. Mayflower Financial Advisors LLC now owns 684,948 shares of the company's stock valued at $24,233,000 after purchasing an additional 441,500 shares during the period. Two Sigma Advisers LP grew its position in Klaviyo by 121.5% in the 3rd quarter. Two Sigma Advisers LP now owns 673,500 shares of the company's stock worth $23,828,000 after purchasing an additional 369,400 shares during the last quarter. Finally, Alkeon Capital Management LLC acquired a new stake in shares of Klaviyo in the third quarter valued at approximately $10,614,000. Institutional investors and hedge funds own 45.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Morgan Stanley boosted their price objective on Klaviyo from $38.00 to $47.00 and gave the stock an "equal weight" rating in a research report on Monday, January 13th. Robert W. Baird boosted their price target on Klaviyo from $42.00 to $45.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th. Loop Capital raised their price target on Klaviyo from $45.00 to $60.00 and gave the company a "buy" rating in a report on Monday, December 23rd. Barclays upped their price objective on shares of Klaviyo from $32.00 to $41.00 and gave the stock an "overweight" rating in a report on Friday, October 11th. Finally, Scotiabank raised their target price on shares of Klaviyo from $35.00 to $45.00 and gave the company a "sector perform" rating in a research note on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Klaviyo currently has an average rating of "Moderate Buy" and an average price target of $43.63.

Klaviyo Stock Down 1.4 %

Klaviyo stock traded down $0.69 during mid-day trading on Friday, hitting $46.98. The company's stock had a trading volume of 842,109 shares, compared to its average volume of 1,039,832. The stock has a market capitalization of $12.67 billion, a P/E ratio of -260.99 and a beta of 0.60. Klaviyo, Inc. has a twelve month low of $21.26 and a twelve month high of $48.73. The stock's fifty day moving average price is $41.98 and its two-hundred day moving average price is $36.30.

Klaviyo (NYSE:KVYO - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, topping 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 business had revenue of $235.09 million for the quarter, compared to analysts' expectations of $226.33 million. During the same period in the previous year, the firm posted ($1.24) EPS. The company's quarterly revenue was up 33.7% on a year-over-year basis. Equities analysts expect that Klaviyo, Inc. will post 0.03 earnings per share for the current year.

Insider Activity at Klaviyo

In other news, insider Landon Edmond sold 40,000 shares of the firm's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.56, for a total value of $1,382,400.00. Following the completion of the sale, the insider now owns 236,621 shares of the company's stock, valued at $8,177,621.76. This trade represents a 14.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Amanda Whalen sold 15,000 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $45.85, for a total value of $687,750.00. Following the transaction, the chief financial officer now directly owns 376,820 shares in the company, valued at $17,277,197. The trade was a 3.83 % 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 in the last quarter. 53.24% of the stock is owned by company insiders.

About Klaviyo

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.