Klaviyo, Inc. (NYSE:KVYO) is Summit Partners L P’s Largest Position

Summit Partners L P lessened its holdings in Klaviyo, Inc. (NYSE:KVYO) by 2.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 46,427,778 shares of the company’s stock after selling 1,313,851 shares during the period. Klaviyo makes up about 73.3% of Summit Partners L P’s investment portfolio, making the stock its largest position. Summit Partners L P owned about 0.17% of Klaviyo worth $1,642,615,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. nVerses Capital LLC bought a new stake in Klaviyo during the third quarter valued at about $53,000. EntryPoint Capital LLC purchased a new position in shares of Klaviyo during the 1st quarter valued at about $71,000. SG Americas Securities LLC bought a new position in shares of Klaviyo during the 2nd quarter valued at approximately $236,000. William Marsh Rice University purchased a new stake in Klaviyo in the 3rd quarter worth approximately $245,000. Finally, Creative Planning bought a new stake in Klaviyo during the 3rd quarter worth approximately $254,000. Hedge funds and other institutional investors own 45.43% of the company’s stock.

Klaviyo Stock Up 2.9 %

Klaviyo stock opened at $40.34 on Thursday. Klaviyo, Inc. has a 52-week low of $21.26 and a 52-week high of $41.00. The company has a market cap of $10.76 billion, a price-to-earnings ratio of -28.61 and a beta of 1.13. The firm’s fifty day moving average is $35.12 and its 200 day moving average is $28.55.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. The firm had revenue of $222.21 million during the quarter, compared to the consensus estimate of $212.34 million. Klaviyo had a negative net margin of 42.15% and a negative return on equity of 32.19%. The firm’s revenue for the quarter was up 35.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.09 EPS. On average, equities research analysts anticipate that Klaviyo, Inc. will post -0.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Summit Partners L. P sold 1,300 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $31.64, for a total value of $41,132.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder Summit Partners L. P sold 1,300 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $31.64, for a total value of $41,132.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Amanda Whalen sold 60,000 shares of Klaviyo stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $30.23, for a total transaction of $1,813,800.00. Following the transaction, the chief financial officer now directly owns 435,993 shares of the company’s stock, valued at approximately $13,180,068.39. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 871,477 shares of company stock valued at $27,610,861 over the last ninety days. 53.24% of the stock is owned by insiders.

Analyst Ratings Changes

KVYO has been the subject of a number of analyst reports. KeyCorp raised shares of Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 price objective for the company in a research note on Thursday, August 8th. Benchmark reiterated a “buy” rating and issued a $42.00 price target on shares of Klaviyo in a research note on Thursday, October 24th. Wells Fargo & Company restated a “buy” rating on shares of Klaviyo in a research report on Friday, October 18th. Robert W. Baird increased their target price on Klaviyo from $35.00 to $42.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $40.00 price target on shares of Klaviyo in a report on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $37.29.

Klaviyo 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.