KLP Kapitalforvaltning AS Makes New $507,000 Investment in Klaviyo, Inc. (NYSE:KVYO)

KLP Kapitalforvaltning AS acquired a new stake in Klaviyo, Inc. (NYSE:KVYO) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 12,300 shares of the company’s stock, valued at approximately $507,000.

Other large investors also recently modified their holdings of the company. Sei Investments Co. bought a new stake in Klaviyo in the fourth quarter worth approximately $1,781,000. American Century Companies Inc. grew its position in shares of Klaviyo by 41.9% during the 4th quarter. American Century Companies Inc. now owns 1,209,612 shares of the company’s stock worth $49,884,000 after buying an additional 357,194 shares during the period. Harbour Investments Inc. increased its stake in shares of Klaviyo by 22,893.3% in the 4th quarter. Harbour Investments Inc. now owns 6,898 shares of the company’s stock valued at $284,000 after acquiring an additional 6,868 shares in the last quarter. Corient Private Wealth LLC acquired a new position in shares of Klaviyo during the 4th quarter valued at $1,240,000. Finally, Telemark Asset Management LLC acquired a new position in shares of Klaviyo during the 4th quarter valued at $4,124,000. 45.43% of the stock is currently owned by institutional investors and hedge funds.

Klaviyo Stock Performance

Klaviyo stock opened at $27.86 on Friday. Klaviyo, Inc. has a fifty-two week low of $21.26 and a fifty-two week high of $49.55. The firm’s 50-day simple moving average is $39.62 and its 200 day simple moving average is $38.74. The stock has a market cap of $7.61 billion, a PE ratio of -154.78 and a beta of 0.86.

Klaviyo (NYSE:KVYO) last announced its 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 business had revenue of $270.16 million during the quarter, compared to analysts’ expectations 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, analysts predict that Klaviyo, Inc. will post 0.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on KVYO shares. William Blair reaffirmed an “outperform” rating on shares of Klaviyo in a research note on Thursday, February 20th. Benchmark boosted their target price on Klaviyo from $40.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Barclays upped their price target on Klaviyo from $47.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Morgan Stanley raised their price objective on Klaviyo from $47.00 to $50.00 and gave the company an “equal weight” rating in a research note on Thursday, February 20th. Finally, Robert W. Baird upped their target price on Klaviyo from $52.00 to $54.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $49.89.

Insider Buying and Selling at Klaviyo

In other news, CFO Amanda Whalen sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $39.18, for a total transaction of $587,700.00. Following the completion of the sale, the chief financial officer now owns 391,820 shares in the company, valued at $15,351,507.60. This trade represents a 3.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Summit Partners L. P sold 2,000,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $32.44, for a total value of $64,880,000.00. The disclosure for this sale can be found here. Insiders sold 2,126,246 shares of company stock worth $69,799,958 in the last quarter. 53.24% of the stock is currently owned by company insiders.

About Klaviyo

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.