Grandeur Peak Global Advisors LLC Reduces Position in Klaviyo, Inc. (NYSE:KVYO)

Grandeur Peak Global Advisors LLC reduced its holdings in Klaviyo, Inc. (NYSE:KVYO) by 55.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,514 shares of the company’s stock after selling 11,646 shares during the period. Grandeur Peak Global Advisors LLC’s holdings in Klaviyo were worth $392,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CIBC Private Wealth Group LLC boosted its stake in Klaviyo by 169.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company’s stock worth $72,000 after buying an additional 1,102 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Klaviyo during the 4th quarter worth $196,000. US Bancorp DE acquired a new position in shares of Klaviyo during the 4th quarter valued at about $199,000. Keybank National Association OH purchased a new stake in shares of Klaviyo in the fourth quarter valued at about $203,000. Finally, Bank Julius Baer & Co. Ltd Zurich increased its position in Klaviyo by 8.0% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,836 shares of the company’s stock worth $220,000 after purchasing an additional 359 shares during the last quarter. 45.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Klaviyo news, major shareholder Jeff Fagnan purchased 3,900 shares of the stock in a transaction that occurred on Wednesday, April 9th. The stock was purchased at an average cost of $25.77 per share, with a total value of $100,503.00. Following the completion of the acquisition, the insider now directly owns 3,900 shares of the company’s stock, valued at $100,503. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Amanda Whalen sold 15,000 shares of the stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $26.70, for a total transaction of $400,500.00. Following the completion of the transaction, the chief financial officer now owns 553,943 shares in the company, valued at $14,790,278.10. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,086,246 shares of company stock worth $67,940,758 in the last 90 days. Corporate insiders own 53.24% of the company’s stock.

Klaviyo Trading Down 1.2 %

NYSE:KVYO opened at $27.03 on Friday. Klaviyo, Inc. has a 12-month low of $21.26 and a 12-month high of $49.55. The firm has a market cap of $7.38 billion, a PE ratio of -150.16 and a beta of 1.39. The stock has a fifty day moving average price of $36.63 and a 200 day moving average price of $38.37.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings data on Wednesday, February 19th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.12). Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. The company had revenue of $270.16 million during the quarter, compared to analysts’ expectations of $257.24 million. Equities analysts forecast that Klaviyo, Inc. will post 0.04 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on KVYO. William Blair reiterated an “outperform” rating on shares of Klaviyo in a report on Thursday, February 20th. Mizuho upped their price objective on Klaviyo from $42.00 to $52.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Cantor Fitzgerald increased their price objective on Klaviyo from $47.00 to $54.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Needham & Company LLC lifted their target price on Klaviyo from $46.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, Scotiabank upped their price target on Klaviyo from $35.00 to $45.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Klaviyo currently has an average rating of “Moderate Buy” and an average target price of $49.89.

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.