Ghisallo Capital Management LLC Sells 17,500 Shares of Klaviyo, Inc. (NYSE:KVYO)

Ghisallo Capital Management LLC cut its position in Klaviyo, Inc. (NYSE:KVYO) by 50.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,500 shares of the company’s stock after selling 17,500 shares during the quarter. Ghisallo Capital Management LLC’s holdings in Klaviyo were worth $436,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in Klaviyo by 677.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,762,128 shares of the company’s stock valued at $68,749,000 after acquiring an additional 2,406,973 shares during the period. Clearbridge Investments LLC raised its position in shares of Klaviyo by 1.5% in the first quarter. Clearbridge Investments LLC now owns 2,205,684 shares of the company’s stock valued at $56,201,000 after purchasing an additional 31,587 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Klaviyo by 243.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,472,140 shares of the company’s stock valued at $40,896,000 after buying an additional 1,042,902 shares in the last quarter. Glynn Capital Management LLC raised its holdings in Klaviyo by 19.7% during the 2nd quarter. Glynn Capital Management LLC now owns 1,363,768 shares of the company’s stock valued at $33,944,000 after acquiring an additional 224,461 shares during the period. Finally, Claro Advisors LLC lifted its position in shares of Klaviyo by 38.7% during the second quarter. Claro Advisors LLC now owns 1,280,035 shares of the company’s stock worth $31,860,000 after acquiring an additional 357,355 shares in the last quarter. Hedge funds and other institutional investors own 45.43% of the company’s stock.

Klaviyo Trading Up 0.4 %

Shares of NYSE:KVYO opened at $35.52 on Wednesday. The company’s fifty day moving average is $30.57 and its 200 day moving average is $26.23. Klaviyo, Inc. has a 52 week low of $21.26 and a 52 week high of $36.47.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings results 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 negative return on equity of 32.19% and a negative net margin of 42.15%. The business had revenue of $222.21 million for the quarter, compared to analysts’ expectations of $212.34 million. During the same period in the previous year, the firm earned $0.09 EPS. The business’s quarterly revenue was up 35.0% on a year-over-year basis. As a group, sell-side analysts forecast that Klaviyo, Inc. will post -0.01 EPS for the current fiscal year.

Insider Buying and Selling

In other Klaviyo news, major shareholder Jeff Fagnan bought 9,485 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were bought at an average cost of $26.43 per share, with a total value of $250,688.55. Following the completion of the purchase, the insider now directly owns 9,485 shares of the company’s stock, valued at $250,688.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Jeff Fagnan acquired 9,485 shares of Klaviyo stock in a transaction on Thursday, August 1st. The shares were acquired at an average cost of $26.43 per share, with a total value of $250,688.55. Following the transaction, the insider now owns 9,485 shares in the company, valued at $250,688.55. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Amanda Whalen sold 60,000 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $30.23, for a total transaction of $1,813,800.00. Following the completion of the transaction, the chief financial officer now owns 435,993 shares of the company’s stock, valued at $13,180,068.39. The disclosure for this sale can be found here. Insiders have sold a total of 843,363 shares of company stock valued at $26,583,602 over the last three months. 53.24% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on KVYO. Needham & Company LLC restated a “buy” rating and issued a $40.00 target price on shares of Klaviyo in a research note on Wednesday, September 4th. 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. Benchmark assumed coverage on shares of Klaviyo in a research note on Monday. They issued a “buy” rating and a $42.00 target price on the stock. Barclays boosted their price target on shares of Klaviyo from $29.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Finally, Piper Sandler increased their price objective on Klaviyo from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $36.00.

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.