WCM Investment Management LLC Buys Shares of 305,404 Klaviyo, Inc. (NYSE:KVYO)

WCM Investment Management LLC acquired a new position in shares of Klaviyo, Inc. (NYSE:KVYO - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 305,404 shares of the company's stock, valued at approximately $12,781,000. WCM Investment Management LLC owned about 0.11% of Klaviyo as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. raised its position in Klaviyo by 145.6% in the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company's stock valued at $48,000 after purchasing an additional 808 shares during the last quarter. nVerses Capital LLC bought a new position in Klaviyo in the third quarter valued at about $53,000. West Tower Group LLC bought a new position in shares of Klaviyo during the third quarter worth about $177,000. Victory Capital Management Inc. bought a new position in shares of Klaviyo during the third quarter worth about $208,000. Finally, William Marsh Rice University bought a new position in shares of Klaviyo during the third quarter worth about $245,000. 45.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on KVYO. Robert W. Baird raised their price objective on Klaviyo from $42.00 to $45.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th. William Blair restated an "outperform" rating on shares of Klaviyo in a research report on Thursday, December 19th. Scotiabank raised their price objective on Klaviyo from $35.00 to $45.00 and gave the stock a "sector perform" rating in a research report on Wednesday, January 29th. Piper Sandler raised their price objective on Klaviyo from $45.00 to $50.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. Finally, Benchmark decreased their target price on Klaviyo from $42.00 to $40.00 and set a "buy" rating for the company in a research note on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Klaviyo currently has a consensus rating of "Moderate Buy" and a consensus price target of $44.29.

Insider Activity

In related news, CFO Amanda Whalen sold 15,000 shares of Klaviyo stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $45.85, for a total transaction of $687,750.00. Following the sale, the chief financial officer now directly owns 376,820 shares in the company, valued at approximately $17,277,197. This trade represents a 3.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Landon Edmond sold 40,000 shares of Klaviyo 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 sale, the insider now owns 236,621 shares in the company, valued at $8,177,621.76. This trade represents a 14.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 174,072 shares of company stock worth $6,778,517 over the last 90 days. 53.24% of the stock is currently owned by corporate insiders.

Klaviyo Price Performance

Shares of KVYO stock traded up $0.51 during trading hours on Thursday, reaching $47.96. The company had a trading volume of 1,076,031 shares, compared to its average volume of 1,068,810. Klaviyo, Inc. has a 12 month low of $21.26 and a 12 month high of $49.55. The business has a fifty day simple moving average of $42.77 and a 200-day simple moving average of $36.99. The company has a market cap of $12.93 billion, a price-to-earnings ratio of -266.42 and a beta of 0.60.

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.