Renaissance Capital LLC Purchases 44,245 Shares of Klaviyo, Inc. (NYSE:KVYO)

Renaissance Capital LLC boosted its position in Klaviyo, Inc. (NYSE:KVYO) by 56.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 122,646 shares of the company’s stock after acquiring an additional 44,245 shares during the period. Klaviyo accounts for approximately 3.3% of Renaissance Capital LLC’s portfolio, making the stock its 13th largest holding. Renaissance Capital LLC’s holdings in Klaviyo were worth $5,058,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KVYO. Creative Planning purchased a new stake in shares of Klaviyo in the third quarter worth about $254,000. Cabot Wealth Management Inc. increased its position in shares of Klaviyo by 101.1% in the third quarter. Cabot Wealth Management Inc. now owns 90,425 shares of the company’s stock worth $3,199,000 after purchasing an additional 45,451 shares during the last quarter. William Marsh Rice University bought a new position in shares of Klaviyo in the third quarter worth approximately $245,000. nVerses Capital LLC bought a new position in shares of Klaviyo in the third quarter worth approximately $53,000. Finally, SpiderRock Advisors LLC increased its position in shares of Klaviyo by 1,571.7% in the third quarter. SpiderRock Advisors LLC now owns 501,500 shares of the company’s stock worth $17,743,000 after purchasing an additional 471,500 shares during the last quarter. 45.43% of the stock is currently owned by institutional investors.

Klaviyo Trading Up 1.3 %

Shares of KVYO stock opened at $46.62 on Tuesday. Klaviyo, Inc. has a 12-month low of $21.26 and a 12-month high of $47.96. The business’s 50 day moving average is $41.11 and its two-hundred day moving average is $35.82. The company has a market capitalization of $12.57 billion, a P/E ratio of -258.99 and a beta of 0.57.

Klaviyo (NYSE:KVYO) last announced its earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $235.09 million for the quarter, compared to analysts’ expectations of $226.33 million. During the same quarter in the previous year, the company posted ($1.24) EPS. The firm’s quarterly revenue was up 33.7% on a year-over-year basis. On average, research analysts predict that Klaviyo, Inc. will post 0.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on KVYO shares. William Blair reiterated an “outperform” rating on shares of Klaviyo in a research report on Thursday, December 19th. 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. Robert W. Baird increased their price target 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. Barclays increased their price objective on Klaviyo from $32.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Finally, Cantor Fitzgerald upped their price target on Klaviyo from $33.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $43.18.

Insider Buying and Selling at Klaviyo

In related news, insider Landon Edmond sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $34.56, for a total value of $1,382,400.00. Following the sale, the insider now owns 236,621 shares of the company’s stock, valued at $8,177,621.76. This trade represents a 14.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 sale, the chief financial officer now directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 159,072 shares of company stock worth $6,090,767 over the last three months. 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.