Alkeon Capital Management LLC Takes Position in Klaviyo, Inc. (NYSE:KVYO)

Alkeon Capital Management LLC acquired a new position in shares of Klaviyo, Inc. (NYSE:KVYO) in the 3rd quarter, HoldingsChannel reports. The firm acquired 300,000 shares of the company’s stock, valued at approximately $10,614,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. increased its stake in Klaviyo by 145.6% during the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock worth $48,000 after acquiring an additional 808 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of Klaviyo during the 3rd quarter worth $53,000. West Tower Group LLC acquired a new stake in shares of Klaviyo during the 3rd quarter worth about $177,000. Victory Capital Management Inc. purchased a new stake in Klaviyo in the 3rd quarter valued at about $208,000. Finally, SG Americas Securities LLC purchased a new stake in Klaviyo in the 2nd quarter valued at about $236,000. 45.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Klaviyo news, CTO Allen Chaves sold 130,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $31.85, for a total transaction of $4,140,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Stephen Eric Rowland sold 4,536 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.56, for a total transaction of $156,764.16. Following the completion of the transaction, the president now owns 186,785 shares of the company’s stock, valued at approximately $6,455,289.60. The trade was a 2.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 352,969 shares of company stock valued at $11,447,138 in the last ninety days. Insiders own 53.24% of the company’s stock.

Klaviyo Stock Down 1.4 %

Shares of Klaviyo stock opened at $36.60 on Friday. Klaviyo, Inc. has a 52-week low of $21.26 and a 52-week high of $41.00. The company has a market capitalization of $9.87 billion, a P/E ratio of -203.32 and a beta of 1.13. The company has a 50 day moving average of $36.55 and a 200 day moving average of $29.94.

Klaviyo (NYSE:KVYO) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.04. The business had revenue of $235.09 million during the quarter, compared to analysts’ expectations of $226.33 million. Klaviyo had a negative net margin of 5.23% and a positive return on equity of 0.86%. The company’s revenue for the quarter was up 33.7% on a year-over-year basis. During the same period in the previous year, the company earned ($1.24) EPS. As a group, research analysts anticipate that Klaviyo, Inc. will post 0.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

KVYO has been the subject of a number of recent analyst reports. Piper Sandler lifted their price target on shares of Klaviyo from $34.00 to $45.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Macquarie reiterated a “neutral” rating and issued a $36.00 target price on shares of Klaviyo in a report on Friday, November 8th. Barclays upped their price target on Klaviyo from $32.00 to $41.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Stifel Nicolaus started coverage on Klaviyo in a research report on Tuesday, October 22nd. They set a “buy” rating and a $45.00 price target for the company. Finally, Needham & Company LLC boosted their price objective on Klaviyo from $40.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $39.00.

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.