Adage Capital Partners GP L.L.C. Has $10.31 Million Stock Holdings in Klaviyo, Inc. (NYSE:KVYO)

Adage Capital Partners GP L.L.C. lowered its stake in Klaviyo, Inc. (NYSE:KVYO) by 44.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 250,000 shares of the company’s stock after selling 200,000 shares during the period. Adage Capital Partners GP L.L.C. owned 0.09% of Klaviyo worth $10,310,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Barclays PLC boosted its holdings in shares of Klaviyo by 1,202.0% during the 3rd quarter. Barclays PLC now owns 12,825 shares of the company’s stock valued at $453,000 after acquiring an additional 11,840 shares in the last quarter. Capital Investment Advisors LLC acquired a new stake in shares of Klaviyo during the fourth quarter valued at about $621,000. Oak Ridge Investments LLC acquired a new position in shares of Klaviyo in the fourth quarter valued at approximately $1,646,000. SG Americas Securities LLC raised its holdings in Klaviyo by 21.4% in the 4th quarter. SG Americas Securities LLC now owns 10,929 shares of the company’s stock valued at $451,000 after buying an additional 1,923 shares during the last quarter. Finally, Renaissance Capital LLC boosted its position in Klaviyo by 56.4% during the 4th quarter. Renaissance Capital LLC now owns 122,646 shares of the company’s stock worth $5,058,000 after buying an additional 44,245 shares during the period. Institutional investors own 45.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on KVYO shares. Citigroup raised their price target on shares of Klaviyo from $39.00 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, February 11th. Truist Financial cut their target price on Klaviyo from $55.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Canaccord Genuity Group increased their price target on Klaviyo from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Mizuho cut their price objective on Klaviyo from $52.00 to $40.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Finally, Robert W. Baird decreased their target price on shares of Klaviyo from $54.00 to $37.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $43.47.

Insider Activity

In other Klaviyo news, major shareholder Summit Partners L. P sold 2,000,000 shares of Klaviyo stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $32.44, for a total transaction of $64,880,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Amanda Whalen sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $45.85, for a total value of $687,750.00. Following the completion of the transaction, the chief financial officer now owns 376,820 shares in the company, valued at $17,277,197. The trade was a 3.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,088,770 shares of company stock worth $67,947,356 over the last 90 days. 53.24% of the stock is currently owned by corporate insiders.

Klaviyo Trading Up 2.2 %

Shares of KVYO stock opened at $29.58 on Monday. Klaviyo, Inc. has a 12 month low of $21.26 and a 12 month high of $49.55. The firm has a market capitalization of $8.08 billion, a PE ratio of -164.33 and a beta of 1.39. The firm has a fifty day simple moving average of $32.38 and a two-hundred day simple moving average of $37.76.

Klaviyo (NYSE:KVYO) last posted 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 analyst estimates of $257.24 million. Klaviyo had a positive return on equity of 0.89% and a negative net margin of 4.92%. On average, equities analysts predict that Klaviyo, Inc. will post 0.04 earnings per share for the current fiscal 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.