Arrowstreet Capital Limited Partnership Has $46.56 Million Position in Klaviyo, Inc. $KVYO

Arrowstreet Capital Limited Partnership raised its position in Klaviyo, Inc. (NYSE:KVYO) by 21.4% during the second quarter, Holdings Channel.com reports. The institutional investor owned 1,386,559 shares of the company’s stock after purchasing an additional 244,339 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Klaviyo were worth $46,561,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Quantbot Technologies LP lifted its holdings in Klaviyo by 111.6% during the 2nd quarter. Quantbot Technologies LP now owns 259,094 shares of the company’s stock worth $8,700,000 after buying an additional 136,662 shares in the last quarter. HBK Investments L P bought a new stake in shares of Klaviyo during the 2nd quarter valued at $252,000. New York State Common Retirement Fund lifted its stake in shares of Klaviyo by 1,979.9% in the 2nd quarter. New York State Common Retirement Fund now owns 322,368 shares of the company’s stock valued at $10,825,000 after purchasing an additional 306,869 shares during the period. Norges Bank bought a new position in shares of Klaviyo in the 2nd quarter worth $52,629,000. Finally, Quadrature Capital Ltd boosted its position in shares of Klaviyo by 390.2% in the 2nd quarter. Quadrature Capital Ltd now owns 64,153 shares of the company’s stock worth $2,152,000 after purchasing an additional 51,066 shares during the last quarter. 45.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Klaviyo

In other Klaviyo news, CFO Amanda Whalen sold 15,000 shares of Klaviyo stock in a transaction dated Friday, October 10th. The stock was sold at an average price of $25.03, for a total value of $375,450.00. Following the sale, the chief financial officer owned 481,719 shares of the company’s stock, valued at $12,057,426.57. This trade represents a 3.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Andrew Bialecki sold 952 shares of the business’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $30.00, for a total value of $28,560.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 5,745,896 shares of company stock valued at $179,279,807. 49.92% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on KVYO shares. Piper Sandler reissued an “overweight” rating and issued a $45.00 target price (down previously from $50.00) on shares of Klaviyo in a research note on Thursday, November 6th. Stifel Nicolaus lowered their price target on Klaviyo from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. Wells Fargo & Company started coverage on shares of Klaviyo in a research note on Tuesday, September 30th. They set an “overweight” rating and a $40.00 price objective on the stock. Robert W. Baird boosted their price objective on shares of Klaviyo from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Finally, The Goldman Sachs Group cut their target price on shares of Klaviyo from $48.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $42.90.

Klaviyo Stock Performance

NYSE KVYO opened at $29.50 on Friday. The business has a 50 day simple moving average of $27.00 and a 200 day simple moving average of $30.80. Klaviyo, Inc. has a 52-week low of $23.44 and a 52-week high of $49.55. The stock has a market cap of $8.91 billion, a price-to-earnings ratio of -122.91 and a beta of 1.18.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings results on Thursday, September 25th. The company reported $0.16 earnings per share for the quarter. The firm had revenue of $293.12 million for the quarter. Klaviyo had a negative net margin of 5.70% and a negative return on equity of 1.00%. On average, analysts predict that Klaviyo, Inc. will post 0.04 EPS for the current year.

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.