Klaviyo, Inc. (NYSE:KVYO) Shares Purchased by Whale Rock Capital Management LLC

Whale Rock Capital Management LLC lifted its position in shares of Klaviyo, Inc. (NYSE:KVYO - Free Report) by 608.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,600,606 shares of the company's stock after purchasing an additional 3,092,725 shares during the quarter. Klaviyo comprises 1.8% of Whale Rock Capital Management LLC's investment portfolio, making the stock its 23rd biggest holding. Whale Rock Capital Management LLC owned approximately 1.35% of Klaviyo worth $127,389,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. California State Teachers Retirement System bought a new stake in shares of Klaviyo during the first quarter valued at approximately $818,000. SG Americas Securities LLC purchased a new stake in shares of Klaviyo during the 2nd quarter valued at about $236,000. Washington Capital Management Inc. bought a new stake in shares of Klaviyo in the second quarter worth approximately $428,000. Bank of New York Mellon Corp raised its holdings in shares of Klaviyo by 677.7% during the second quarter. Bank of New York Mellon Corp now owns 2,762,128 shares of the company's stock valued at $68,749,000 after purchasing an additional 2,406,973 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Klaviyo by 1,447.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,852 shares of the company's stock valued at $668,000 after purchasing an additional 25,117 shares during the period. Institutional investors own 45.43% of the company's stock.

Klaviyo Stock Up 4.2 %

Shares of NYSE KVYO traded up $1.58 during midday trading on Friday, reaching $39.65. 1,445,522 shares of the company's stock traded hands, compared to its average volume of 1,181,559. The company has a market cap of $10.69 billion, a price-to-earnings ratio of -211.50 and a beta of 0.97. Klaviyo, Inc. has a one year low of $21.26 and a one year high of $41.00. The stock's 50 day simple moving average is $36.90 and its 200-day simple moving average is $30.42.

Klaviyo (NYSE:KVYO - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.11 by $0.04. The firm had revenue of $235.09 million during the quarter, compared to analyst estimates of $226.33 million. Klaviyo had a negative net margin of 5.23% and a positive return on equity of 0.86%. Klaviyo's revenue was up 33.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.24) EPS. Equities analysts predict that Klaviyo, Inc. will post 0.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Cantor Fitzgerald boosted their price objective on Klaviyo from $33.00 to $47.00 and gave the company an "overweight" rating in a research note on Thursday, November 7th. KeyCorp raised shares of Klaviyo from a "sector weight" rating to an "overweight" rating and set a $33.00 price objective for the company in a research note on Thursday, August 8th. Canaccord Genuity Group lifted their target price on shares of Klaviyo from $32.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Macquarie reiterated a "neutral" rating and issued a $36.00 price target on shares of Klaviyo in a research note on Friday, November 8th. Finally, Piper Sandler boosted their price objective on Klaviyo from $34.00 to $45.00 and gave the company an "overweight" rating in a research report on Friday, October 18th. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $39.00.

Insider Buying and Selling at Klaviyo

In related news, major shareholder Summit Partners L. P sold 107,205 shares of Klaviyo stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $31.33, for a total transaction of $3,358,732.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Amanda Whalen sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $35.36, for a total transaction of $353,600.00. Following the sale, the chief financial officer now directly owns 422,813 shares in the company, valued at $14,950,667.68. The trade was a 2.31 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 342,969 shares of company stock worth $11,149,938. 53.24% of the stock is currently owned by insiders.

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.