XTX Topco Ltd Buys 13,016 Shares of Klaviyo, Inc. (NYSE:KVYO)

XTX Topco Ltd raised its position in shares of Klaviyo, Inc. (NYSE:KVYO) by 114.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,363 shares of the company’s stock after acquiring an additional 13,016 shares during the quarter. XTX Topco Ltd’s holdings in Klaviyo were worth $606,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Salem Investment Counselors Inc. boosted its position in shares of Klaviyo by 161.1% during the first quarter. Salem Investment Counselors Inc. now owns 2,350 shares of the company’s stock valued at $60,000 after purchasing an additional 1,450 shares in the last quarter. EntryPoint Capital LLC purchased a new position in Klaviyo during the 1st quarter valued at about $71,000. SG Americas Securities LLC bought a new stake in Klaviyo during the second quarter worth about $236,000. SVB Wealth LLC purchased a new stake in Klaviyo in the first quarter worth about $299,000. Finally, Versor Investments LP purchased a new position in shares of Klaviyo during the second quarter valued at approximately $309,000. Hedge funds and other institutional investors own 45.43% of the company’s stock.

Insider Transactions at Klaviyo

In other Klaviyo news, major shareholder Summit Partners L. P sold 242,601 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $31.78, for a total value of $7,709,859.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Klaviyo news, major shareholder Summit Partners L. P sold 242,601 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $31.78, for a total value of $7,709,859.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Jeff Fagnan purchased 9,485 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was acquired at an average price of $26.43 per share, with a total value of $250,688.55. Following the purchase, the insider now directly owns 9,485 shares in the company, valued at approximately $250,688.55. The disclosure for this purchase can be found here. Insiders sold 843,363 shares of company stock worth $26,583,602 in the last three months. Corporate insiders own 53.24% of the company’s stock.

Klaviyo Stock Performance

NYSE:KVYO opened at $34.13 on Tuesday. Klaviyo, Inc. has a one year low of $21.26 and a one year high of $37.36. The business has a fifty day moving average price of $29.40 and a 200-day moving average price of $25.79.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.10 by $0.05. The firm had revenue of $222.21 million during the quarter, compared to analyst estimates of $212.34 million. Klaviyo had a negative return on equity of 32.19% and a negative net margin of 42.15%. Klaviyo’s revenue was up 35.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.09 EPS. Equities research analysts anticipate that Klaviyo, Inc. will post -0.01 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. KeyCorp raised Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 target price on the stock in a research note on Thursday, August 8th. Cantor Fitzgerald increased their price target on shares of Klaviyo from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Piper Sandler boosted their price objective on shares of Klaviyo from $30.00 to $34.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Barclays boosted their price objective on shares of Klaviyo from $29.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Finally, Needham & Company LLC restated a “buy” rating and issued a $40.00 price objective on shares of Klaviyo in a report on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Klaviyo has a consensus rating of “Moderate Buy” and a consensus price target of $35.65.

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.