Sierra Summit Advisors LLC Purchases Shares of 192,816 Klaviyo, Inc. (NYSE:KVYO)

Sierra Summit Advisors LLC acquired a new stake in Klaviyo, Inc. (NYSE:KVYO - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 192,816 shares of the company's stock, valued at approximately $7,952,000. Klaviyo accounts for approximately 1.6% of Sierra Summit Advisors LLC's portfolio, making the stock its 29th biggest holding. Sierra Summit Advisors LLC owned about 0.07% of Klaviyo at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Charles Schwab Investment Management Inc. grew its holdings in shares of Klaviyo by 27.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 424,357 shares of the company's stock worth $15,014,000 after buying an additional 91,824 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of Klaviyo in the third quarter valued at approximately $481,000. FMR LLC raised its stake in shares of Klaviyo by 428.1% during the third quarter. FMR LLC now owns 100,982 shares of the company's stock worth $3,573,000 after purchasing an additional 81,861 shares during the last quarter. State Street Corp lifted its holdings in shares of Klaviyo by 7.9% during the third quarter. State Street Corp now owns 435,448 shares of the company's stock worth $15,406,000 after purchasing an additional 32,034 shares during the period. Finally, 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 valued at $23,828,000 after buying an additional 369,400 shares during the last quarter. 45.43% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

A number of equities analysts have commented on the stock. The Goldman Sachs Group upped their price objective on shares of Klaviyo from $45.00 to $51.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Wells Fargo & Company reduced their price objective on shares of Klaviyo from $48.00 to $45.00 and set an "equal weight" rating for the company in a research report on Thursday, February 20th. Morgan Stanley boosted their target price on Klaviyo from $47.00 to $50.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 20th. Stephens initiated coverage on Klaviyo in a report on Wednesday, March 19th. They issued an "overweight" rating and a $43.00 price target for the company. Finally, Piper Sandler upped their price objective on Klaviyo from $50.00 to $53.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $49.89.

Insider Buying and Selling at Klaviyo

In related news, CFO Amanda Whalen sold 15,000 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $45.85, for a total value of $687,750.00. Following the completion of the transaction, the chief financial officer now directly owns 376,820 shares in the company, valued at approximately $17,277,197. This represents a 3.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Jeff Fagnan purchased 3,900 shares of the firm's stock in a transaction on Wednesday, April 9th. The stock was acquired at an average cost of $25.77 per share, for a total transaction of $100,503.00. Following the completion of the purchase, the insider now owns 3,900 shares in the company, valued at $100,503. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 2,086,246 shares of company stock worth $67,940,758. Corporate insiders own 53.24% of the company's stock.

Klaviyo Stock Down 1.2 %

Shares of KVYO traded down $0.34 during mid-day trading on Friday, reaching $27.03. 1,521,302 shares of the company's stock were exchanged, compared to its average volume of 1,281,179. Klaviyo, Inc. has a 52-week low of $21.26 and a 52-week high of $49.55. The company has a 50-day simple moving average of $36.63 and a two-hundred day simple moving average of $38.37. The company has a market cap of $7.38 billion, a price-to-earnings ratio of -150.16 and a beta of 1.39.

Klaviyo (NYSE:KVYO - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.12). The company had revenue of $270.16 million during the quarter, compared to analyst estimates of $257.24 million. Klaviyo had a positive return on equity of 0.89% and a negative net margin of 4.92%. As a group, equities research analysts predict that Klaviyo, Inc. will post 0.04 EPS for the current fiscal year.

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.