Victory Capital Management Inc. Invests $208,000 in Klaviyo, Inc. (NYSE:KVYO)

Victory Capital Management Inc. purchased a new position in shares of Klaviyo, Inc. (NYSE:KVYO) in the third quarter, HoldingsChannel reports. The fund purchased 5,865 shares of the company’s stock, valued at approximately $208,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. nVerses Capital LLC acquired a new stake in shares of Klaviyo in the third quarter worth approximately $53,000. SG Americas Securities LLC acquired a new stake in shares of Klaviyo in the second quarter worth approximately $236,000. William Marsh Rice University acquired a new stake in shares of Klaviyo in the third quarter worth approximately $245,000. Creative Planning acquired a new stake in shares of Klaviyo in the third quarter worth approximately $254,000. Finally, Versor Investments LP acquired a new stake in shares of Klaviyo in the second quarter worth approximately $309,000. 45.43% of the stock is currently owned by hedge funds and other institutional investors.

Klaviyo Trading Up 1.5 %

NYSE KVYO opened at $37.14 on Friday. The company’s fifty day simple moving average is $36.62 and its 200-day simple moving average is $30.08. Klaviyo, Inc. has a 52 week low of $21.26 and a 52 week high of $41.00. The stock has a market cap of $10.01 billion, a P/E ratio of -206.32 and a beta of 1.13.

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on KVYO shares. Robert W. Baird raised their target price on shares of Klaviyo from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Piper Sandler raised their target price on shares of Klaviyo from $34.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Cantor Fitzgerald lifted their price target on shares of Klaviyo from $33.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Benchmark reduced their price target on shares of Klaviyo from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Finally, Macquarie reaffirmed a “neutral” rating and set a $36.00 price target on shares of Klaviyo in a research report on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $39.00.

Insider Transactions at Klaviyo

In related news, President Stephen Eric Rowland sold 18,114 shares of Klaviyo stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $37.19, for a total value of $673,659.66. Following the completion of the sale, the president now owns 192,488 shares in the company, valued at approximately $7,158,628.72. The trade was a 8.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Amanda Whalen sold 15,000 shares of Klaviyo stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.56, for a total transaction of $518,400.00. Following the completion of the sale, the chief financial officer now owns 395,616 shares of the company’s stock, valued at approximately $13,672,488.96. This trade represents a 3.65 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 352,969 shares of company stock valued at $11,447,138. Corporate insiders own 53.24% of the company’s stock.

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.