SpiderRock Advisors LLC Increases Stock Holdings in Klaviyo, Inc. (NYSE:KVYO)

SpiderRock Advisors LLC boosted its position in Klaviyo, Inc. (NYSE:KVYO - Free Report) by 1,571.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 501,500 shares of the company's stock after buying an additional 471,500 shares during the period. SpiderRock Advisors LLC owned approximately 0.19% of Klaviyo worth $17,743,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. nVerses Capital LLC purchased a new position in Klaviyo during the third quarter worth about $53,000. EntryPoint Capital LLC purchased a new position in Klaviyo in the first quarter valued at about $71,000. SG Americas Securities LLC purchased a new position in Klaviyo in the second quarter valued at about $236,000. William Marsh Rice University purchased a new position in Klaviyo in the third quarter valued at about $245,000. Finally, Creative Planning purchased a new position in Klaviyo in the third quarter valued at about $254,000. Institutional investors and hedge funds own 45.43% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on KVYO shares. Cantor Fitzgerald upped their price target on shares of Klaviyo from $33.00 to $47.00 and gave the company an "overweight" rating in a research note on Thursday. Benchmark dropped their price target on shares of Klaviyo from $42.00 to $40.00 and set a "buy" rating on the stock in a research note on Thursday. Needham & Company LLC upped their price target on shares of Klaviyo from $40.00 to $46.00 and gave the company a "buy" rating in a research note on Thursday. Piper Sandler upped their price target on shares of Klaviyo from $34.00 to $45.00 and gave the company an "overweight" rating in a research note on Friday, October 18th. Finally, Barclays upped their target price on shares of Klaviyo from $32.00 to $41.00 and gave the stock an "overweight" rating in a report on Friday, October 11th. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Klaviyo presently has a consensus rating of "Moderate Buy" and a consensus target price of $39.00.

Klaviyo Trading Down 1.3 %

KVYO traded down $0.43 on Friday, hitting $33.35. The company had a trading volume of 2,299,979 shares, compared to its average volume of 895,890. The firm has a market cap of $8.89 billion, a P/E ratio of -185.27 and a beta of 1.13. The company's fifty day moving average price is $35.21 and its 200 day moving average price is $28.66. Klaviyo, Inc. has a 1 year low of $21.26 and a 1 year high of $41.00.

Klaviyo (NYSE:KVYO - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.15 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.05. Klaviyo had a positive return on equity of 0.87% and a negative net margin of 5.23%. The business had revenue of $222.21 million during the quarter, compared to the consensus estimate of $212.34 million. During the same period in the previous year, the company posted $0.09 earnings per share. The business's revenue for the quarter was up 35.0% on a year-over-year basis. On average, analysts predict that Klaviyo, Inc. will post -0.01 earnings per share for the current year.

Insider Activity at Klaviyo

In related news, CTO Allen Chaves sold 130,000 shares of the company's stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $31.59, for a total value of $4,106,700.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CTO Allen Chaves sold 130,000 shares of the firm's stock in a transaction on Monday, August 12th. The stock was sold at an average price of $31.59, for a total value of $4,106,700.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Stephen Eric Rowland sold 18,114 shares of the firm's stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $37.19, for a total value of $673,659.66. Following the completion of the transaction, the president now owns 192,488 shares of the company's stock, valued at approximately $7,158,628.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 789,711 shares of company stock valued at $25,143,646 over the last three months. 53.24% of the stock is owned by corporate insiders.

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.