Klaviyo, Inc. $KVYO Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas grew its stake in shares of Klaviyo, Inc. (NYSE:KVYO) by 89.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 22,086 shares of the company’s stock after buying an additional 10,439 shares during the period. Teacher Retirement System of Texas’ holdings in Klaviyo were worth $742,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC increased its stake in Klaviyo by 227.5% during the first quarter. CWM LLC now owns 930 shares of the company’s stock worth $28,000 after acquiring an additional 646 shares during the last quarter. State of Wyoming purchased a new stake in shares of Klaviyo during the 1st quarter worth about $42,000. Caitong International Asset Management Co. Ltd increased its position in Klaviyo by 217.9% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,421 shares of the company’s stock worth $43,000 after purchasing an additional 974 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in Klaviyo by 22.7% in the first quarter. Advisors Asset Management Inc. now owns 2,731 shares of the company’s stock valued at $83,000 after buying an additional 506 shares during the period. Finally, Parallel Advisors LLC lifted its position in Klaviyo by 17,273.3% during the second quarter. Parallel Advisors LLC now owns 2,606 shares of the company’s stock valued at $88,000 after buying an additional 2,591 shares in the last quarter. Hedge funds and other institutional investors own 45.43% of the company’s stock.

Klaviyo Price Performance

Shares of Klaviyo stock opened at $30.41 on Friday. Klaviyo, Inc. has a 1-year low of $23.44 and a 1-year high of $49.55. The company has a market capitalization of $9.12 billion, a PE ratio of -126.71 and a beta of 1.26. The business has a 50-day moving average of $28.73 and a 200-day moving average of $31.29.

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

Insider Buying and Selling at Klaviyo

In related news, major shareholder Summit Partners L. P sold 4,000,000 shares of the company’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $31.87, for a total value of $127,480,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ed Hallen sold 89,748 shares of the firm’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $31.71, for a total transaction of $2,845,909.08. Following the transaction, the director directly owned 177,776 shares of the company’s stock, valued at approximately $5,637,276.96. This represents a 33.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 5,741,781 shares of company stock valued at $180,719,288 in the last three months. Corporate insiders own 49.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. 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 research note on Friday. Stifel Nicolaus lowered their price target on Klaviyo from $42.00 to $40.00 and set a “buy” rating for the company in a report on Thursday. Jefferies Financial Group upgraded Klaviyo to a “strong-buy” rating in a research note on Wednesday, October 22nd. Morgan Stanley raised Klaviyo from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $40.00 to $50.00 in a research report on Friday, September 19th. Finally, Wells Fargo & Company started coverage on Klaviyo in a report on Tuesday, September 30th. They set an “overweight” rating and a $40.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $43.00.

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.