Bryce Point Capital LLC Buys Shares of 21,266 Klaviyo, Inc. (NYSE:KVYO)

Bryce Point Capital LLC purchased a new position in Klaviyo, Inc. (NYSE:KVYO) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 21,266 shares of the company’s stock, valued at approximately $877,000.

Several other hedge funds and other institutional investors have also modified their holdings of KVYO. Geode Capital Management LLC increased its position in Klaviyo by 12.2% in the 4th quarter. Geode Capital Management LLC now owns 882,460 shares of the company’s stock worth $36,409,000 after purchasing an additional 96,274 shares during the last quarter. Franklin Resources Inc. increased its holdings in Klaviyo by 48.6% in the fourth quarter. Franklin Resources Inc. now owns 1,943,523 shares of the company’s stock worth $80,151,000 after buying an additional 635,962 shares during the last quarter. B. Metzler seel. Sohn & Co. AG acquired a new position in Klaviyo in the fourth quarter worth approximately $1,934,000. Pier 88 Investment Partners LLC raised its position in Klaviyo by 41.8% during the fourth quarter. Pier 88 Investment Partners LLC now owns 38,700 shares of the company’s stock valued at $1,596,000 after acquiring an additional 11,400 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its stake in Klaviyo by 0.9% in the fourth quarter. Clearbridge Investments LLC now owns 2,168,336 shares of the company’s stock valued at $89,422,000 after acquiring an additional 19,567 shares during the last quarter. 45.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Klaviyo

In related news, major shareholder Summit Partners L. P sold 2,000,000 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $32.44, for a total value of $64,880,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Amanda Whalen sold 15,000 shares of Klaviyo stock in a transaction on Friday, March 14th. The stock was sold at an average price of $33.54, for a total transaction of $503,100.00. Following the sale, the chief financial officer now directly owns 349,623 shares of the company’s stock, valued at $11,726,355.42. This represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,126,246 shares of company stock worth $69,799,958 over the last 90 days. 53.24% of the stock is owned by insiders.

Klaviyo Stock Up 1.3 %

Shares of NYSE:KVYO opened at $31.40 on Thursday. The firm has a market cap of $8.58 billion, a P/E ratio of -174.44 and a beta of 0.86. Klaviyo, Inc. has a 12 month low of $21.26 and a 12 month high of $49.55. The company’s 50-day moving average price is $39.94 and its two-hundred day moving average price is $38.81.

Klaviyo (NYSE:KVYO) last released its quarterly earnings results on Wednesday, February 19th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.12). Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. The company had revenue of $270.16 million for the quarter, compared to the consensus estimate of $257.24 million. As a group, equities analysts predict that Klaviyo, Inc. will post 0.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on KVYO. Robert W. Baird increased their price target on shares of Klaviyo from $52.00 to $54.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Morgan Stanley raised their target price on Klaviyo from $47.00 to $50.00 and gave the company an “equal weight” rating in a report on Thursday, February 20th. Citigroup upped their price target on Klaviyo from $39.00 to $48.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 11th. Needham & Company LLC boosted their target price on Klaviyo from $46.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Finally, Canaccord Genuity Group raised their target price on shares of Klaviyo from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $49.89.

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.