Two Sigma Advisers LP Acquires 369,400 Shares of Klaviyo, Inc. (NYSE:KVYO)

Two Sigma Advisers LP boosted its holdings in Klaviyo, Inc. (NYSE:KVYO) by 121.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 673,500 shares of the company’s stock after acquiring an additional 369,400 shares during the period. Two Sigma Advisers LP’s holdings in Klaviyo were worth $23,828,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Advisors Asset Management Inc. raised its position in shares of Klaviyo by 145.6% in the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock valued at $48,000 after purchasing an additional 808 shares during the period. nVerses Capital LLC acquired a new position in Klaviyo in the 3rd quarter valued at about $53,000. West Tower Group LLC bought a new position in Klaviyo in the 3rd quarter valued at about $177,000. Victory Capital Management Inc. acquired a new stake in Klaviyo during the third quarter worth approximately $208,000. Finally, William Marsh Rice University bought a new stake in shares of Klaviyo during the third quarter worth approximately $245,000. Institutional investors and hedge funds own 45.43% of the company’s stock.

Insider Activity

In related news, CTO Allen Chaves sold 130,000 shares of Klaviyo stock in a transaction on Monday, September 16th. The shares were sold at an average price of $31.85, for a total transaction of $4,140,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Stephen Eric Rowland sold 4,536 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.56, for a total transaction of $156,764.16. Following the sale, the president now directly owns 186,785 shares in the company, valued at $6,455,289.60. This trade represents a 2.37 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 342,969 shares of company stock valued at $11,149,938. Insiders own 53.24% of the company’s stock.

Klaviyo Price Performance

KVYO stock opened at $39.74 on Friday. Klaviyo, Inc. has a 1 year low of $21.26 and a 1 year high of $41.00. The stock has a market cap of $10.72 billion, a price-to-earnings ratio of -220.77 and a beta of 0.97. The company has a 50 day simple moving average of $37.00 and a 200 day simple moving average of $30.56.

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

Analyst Ratings Changes

KVYO has been the topic of a number of recent research reports. Needham & Company LLC increased their target price on Klaviyo from $40.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Wells Fargo & Company reiterated a “buy” rating on shares of Klaviyo in a research report on Friday, October 18th. Robert W. Baird boosted their target price on shares of Klaviyo from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Stifel Nicolaus initiated 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. Finally, Canaccord Genuity Group boosted their price objective on shares of Klaviyo from $32.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $39.00.

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.