Klaviyo, Inc. $KVYO Shares Purchased by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC raised its stake in Klaviyo, Inc. (NYSE:KVYO) by 14.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,980 shares of the company’s stock after purchasing an additional 5,310 shares during the quarter. Pier 88 Investment Partners LLC’s holdings in Klaviyo were worth $1,376,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Klaviyo in the second quarter valued at about $31,000. CWM LLC boosted its holdings in Klaviyo by 227.5% in the 1st quarter. CWM LLC now owns 930 shares of the company’s stock worth $28,000 after acquiring an additional 646 shares during the period. First Horizon Advisors Inc. acquired a new stake in Klaviyo in the second quarter valued at approximately $37,000. State of Wyoming purchased a new stake in shares of Klaviyo during the first quarter valued at approximately $42,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of Klaviyo by 217.9% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,421 shares of the company’s stock valued at $43,000 after purchasing an additional 974 shares during the period. Institutional investors and hedge funds own 45.43% of the company’s stock.

Klaviyo Stock Up 5.6%

NYSE:KVYO opened at $30.41 on Friday. The company has a market cap of $9.12 billion, a PE ratio of -126.71 and a beta of 1.26. The business’s 50 day moving average is $28.73 and its two-hundred day moving average is $31.34. Klaviyo, Inc. has a 52 week low of $23.44 and a 52 week high of $49.55.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on KVYO. Wall Street Zen upgraded shares of Klaviyo from a “hold” rating to a “buy” rating in a research note on Saturday. Morgan Stanley upgraded shares of Klaviyo from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $40.00 to $50.00 in a report on Friday, September 19th. KeyCorp lowered their target price on Klaviyo from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday. Stifel Nicolaus dropped their target price on Klaviyo from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Benchmark reiterated a “buy” rating on shares of Klaviyo in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Klaviyo currently has an average rating of “Moderate Buy” and an average price target of $43.00.

Insider Transactions at Klaviyo

In other news, Director Ed Hallen sold 89,748 shares of Klaviyo stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $31.71, for a total value of $2,845,909.08. Following the completion of the transaction, the director directly owned 177,776 shares of the company’s stock, valued at approximately $5,637,276.96. The trade was a 33.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Andrew Bialecki sold 226,702 shares of the stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $31.50, for a total transaction of $7,141,113.00. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 5,741,781 shares of company stock worth $180,719,288. 49.92% of the stock is currently owned by insiders.

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.