Dark Forest Capital Management LP Raises Position in Klaviyo, Inc. (NYSE:KVYO)

Dark Forest Capital Management LP lifted its stake in shares of Klaviyo, Inc. (NYSE:KVYO) by 13.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 23,689 shares of the company’s stock after buying an additional 2,851 shares during the quarter. Dark Forest Capital Management LP’s holdings in Klaviyo were worth $590,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of KVYO. Bank of New York Mellon Corp increased its stake in shares of Klaviyo by 677.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,762,128 shares of the company’s stock worth $68,749,000 after purchasing an additional 2,406,973 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Klaviyo by 243.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,472,140 shares of the company’s stock worth $40,896,000 after purchasing an additional 1,042,902 shares during the last quarter. Claro Advisors LLC purchased a new stake in shares of Klaviyo during the 1st quarter worth approximately $23,510,000. Glynn Capital Management LLC increased its stake in shares of Klaviyo by 291.3% during the 1st quarter. Glynn Capital Management LLC now owns 1,139,307 shares of the company’s stock worth $29,030,000 after purchasing an additional 848,152 shares during the last quarter. Finally, Norges Bank purchased a new position in Klaviyo in the 4th quarter valued at approximately $21,258,000. 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 business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $31.78, for a total value of $7,709,859.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Klaviyo news, major shareholder Summit Partners L. P sold 242,601 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $31.78, for a total value of $7,709,859.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Summit Partners L. P sold 82,499 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $31.76, for a total transaction of $2,620,168.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 843,363 shares of company stock valued at $26,583,602. Insiders own 53.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Barclays lifted their price objective on shares of Klaviyo from $29.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. KeyCorp upgraded shares of Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 price objective for the company in a research note on Thursday, August 8th. Cantor Fitzgerald lifted their price objective on shares of Klaviyo from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price objective on shares of Klaviyo in a research note on Wednesday, September 4th. Finally, Piper Sandler lifted their price objective on shares of Klaviyo from $30.00 to $34.00 and gave the company an “overweight” rating in a research note 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.65.

Klaviyo Stock Down 0.1 %

NYSE KVYO 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 fifty day moving average of $30.17 and a 200-day moving average of $26.05.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.15 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $212.34 million. During the same period in the previous year, the firm posted $0.09 EPS. The firm’s revenue was up 35.0% compared to the same quarter last year. On average, analysts anticipate that Klaviyo, Inc. will post -0.01 earnings per share for the current year.

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.