30,000 Shares in Klaviyo, Inc. (NYSE:KVYO) Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board bought a new position in shares of Klaviyo, Inc. (NYSE:KVYO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 30,000 shares of the company’s stock, valued at approximately $747,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KVYO. Norges Bank bought a new stake in Klaviyo during the fourth quarter worth approximately $21,258,000. Sands Capital Management LLC increased its holdings in shares of Klaviyo by 3.8% in the fourth quarter. Sands Capital Management LLC now owns 663,303 shares of the company’s stock valued at $18,427,000 after buying an additional 24,329 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Klaviyo by 243.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,472,140 shares of the company’s stock valued at $40,896,000 after buying an additional 1,042,902 shares in the last quarter. Moody National Bank Trust Division increased its holdings in shares of Klaviyo by 87.9% in the first quarter. Moody National Bank Trust Division now owns 15,639 shares of the company’s stock valued at $398,000 after buying an additional 7,316 shares in the last quarter. Finally, Salem Investment Counselors Inc. increased its holdings in shares of Klaviyo by 161.1% in the first quarter. Salem Investment Counselors Inc. now owns 2,350 shares of the company’s stock valued at $60,000 after buying an additional 1,450 shares in the last quarter. Institutional investors own 45.43% of the company’s stock.

Analyst Upgrades and Downgrades

KVYO has been the topic of several research reports. Cantor Fitzgerald upped their price target on Klaviyo from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Barclays upped their price target on Klaviyo from $29.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 price target on shares of Klaviyo in a report on Wednesday, September 4th. Piper Sandler lifted their price objective on shares of Klaviyo from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Finally, KeyCorp upgraded shares of Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 price objective on the stock in a research report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $35.65.

Klaviyo Stock Performance

KVYO stock opened at $35.20 on Friday. Klaviyo, Inc. has a 52-week low of $21.26 and a 52-week high of $37.36. The company has a 50-day moving average of $30.17 and a two-hundred day moving average of $26.05.

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

Insider Activity at Klaviyo

In related news, President Stephen Eric Rowland sold 18,114 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $31.24, for a total value of $565,881.36. Following the completion of the sale, the president now owns 192,488 shares in the company, valued at $6,013,325.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Klaviyo news, President Stephen Eric Rowland sold 18,114 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $31.24, for a total transaction of $565,881.36. Following the completion of the transaction, the president now owns 192,488 shares in the company, valued at $6,013,325.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Summit Partners L. P sold 1,300 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $31.64, for a total transaction of $41,132.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 843,363 shares of company stock worth $26,583,602. Company insiders own 53.24% of the company’s stock.

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.