The Manufacturers Life Insurance Company Invests $481,000 in Klaviyo, Inc. (NYSE:KVYO)

The Manufacturers Life Insurance Company purchased a new position in Klaviyo, Inc. (NYSE:KVYO) during the third quarter, HoldingsChannel reports. The institutional investor purchased 13,608 shares of the company’s stock, valued at approximately $481,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Lisanti Capital Growth LLC purchased a new stake in shares of Klaviyo during the 3rd quarter valued at $5,513,000. Pier 88 Investment Partners LLC purchased a new stake in Klaviyo during the third quarter valued at about $966,000. SpiderRock Advisors LLC grew its position in Klaviyo by 1,571.7% during the third quarter. SpiderRock Advisors LLC now owns 501,500 shares of the company’s stock valued at $17,743,000 after acquiring an additional 471,500 shares during the period. Canada Pension Plan Investment Board acquired a new stake in Klaviyo during the second quarter worth about $747,000. Finally, Diker Management LLC grew its stake in Klaviyo by 33.3% during the second quarter. Diker Management LLC now owns 200,000 shares of the company’s stock worth $4,978,000 after buying an additional 50,000 shares during the period. 45.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on KVYO shares. Piper Sandler boosted their price target on Klaviyo from $34.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. KeyCorp increased their target price on Klaviyo from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Friday. Cantor Fitzgerald lifted their price target on shares of Klaviyo from $33.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Benchmark dropped their target price on shares of Klaviyo from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Finally, Stifel Nicolaus began coverage on shares of Klaviyo in a research report on Tuesday, October 22nd. They set a “buy” rating and a $45.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $39.69.

Klaviyo Stock Down 0.5 %

Shares of NYSE KVYO opened at $39.06 on Friday. The stock has a market capitalization of $10.53 billion, a P/E ratio of -217.00 and a beta of 0.97. The firm’s 50-day moving average price is $37.41 and its two-hundred day moving average price is $31.10. Klaviyo, Inc. has a 52-week low of $21.26 and a 52-week high of $41.00.

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

Insider Buying and Selling

In other news, insider Landon Edmond sold 40,000 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.56, for a total value of $1,382,400.00. Following the completion of the transaction, the insider now owns 236,621 shares of the company’s stock, valued at approximately $8,177,621.76. This represents a 14.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CTO Allen Chaves sold 130,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $31.85, for a total value of $4,140,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 275,764 shares of company stock valued at $9,383,087 in the last quarter. Company 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.