Teacher Retirement System of Texas Makes New $352,000 Investment in Klaviyo, Inc. (NYSE:KVYO)

Teacher Retirement System of Texas acquired a new position in Klaviyo, Inc. (NYSE:KVYO) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 11,647 shares of the company’s stock, valued at approximately $352,000.

Several other institutional investors and hedge funds have also bought and sold shares of KVYO. Focus Partners Wealth purchased a new stake in Klaviyo in the fourth quarter worth about $38,870,000. D. E. Shaw & Co. Inc. lifted its holdings in Klaviyo by 195.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,310,227 shares of the company’s stock worth $54,034,000 after buying an additional 866,749 shares during the period. Lord Abbett & CO. LLC purchased a new stake in Klaviyo in the fourth quarter worth about $30,851,000. Ameriprise Financial Inc. lifted its holdings in Klaviyo by 229.5% in the fourth quarter. Ameriprise Financial Inc. now owns 982,134 shares of the company’s stock worth $40,507,000 after buying an additional 684,026 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Klaviyo by 9.1% in the fourth quarter. Vanguard Group Inc. now owns 7,721,855 shares of the company’s stock worth $318,449,000 after buying an additional 646,628 shares during the period. 45.43% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Klaviyo news, insider Landon Edmond sold 9,965 shares of Klaviyo stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $34.85, for a total value of $347,280.25. Following the completion of the sale, the insider owned 404,744 shares of the company’s stock, valued at approximately $14,105,328.40. The trade was a 2.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Carmel Galvin sold 11,156 shares of the business’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $35.01, for a total transaction of $390,571.56. Following the sale, the insider directly owned 711,805 shares of the company’s stock, valued at approximately $24,920,293.05. The trade was a 1.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,094,418 shares of company stock worth $268,580,202 in the last 90 days. Insiders own 49.92% of the company’s stock.

Klaviyo Trading Up 0.3%

NYSE:KVYO opened at $32.21 on Friday. Klaviyo, Inc. has a 12 month low of $22.12 and a 12 month high of $49.55. The company has a market cap of $9.57 billion, a PE ratio of -178.93 and a beta of 1.37. The company has a 50 day simple moving average of $33.63 and a two-hundred day simple moving average of $35.58.

Klaviyo (NYSE:KVYO) last posted its earnings results on Tuesday, May 6th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. Klaviyo had a negative net margin of 4.70% and a positive return on equity of 0.74%. The business had revenue of $279.83 million during the quarter, compared to the consensus estimate of $267.79 million. During the same quarter in the previous year, the firm posted $0.13 EPS. The firm’s revenue was up 33.3% on a year-over-year basis. Research analysts forecast that Klaviyo, Inc. will post 0.04 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on KVYO. Stifel Nicolaus lowered their target price on shares of Klaviyo from $45.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday. Wells Fargo & Company upgraded shares of Klaviyo from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $32.00 to $40.00 in a report on Friday, June 13th. Mizuho lowered their target price on shares of Klaviyo from $52.00 to $40.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. Robert W. Baird lowered their target price on shares of Klaviyo from $54.00 to $37.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Finally, Barclays lifted their target price on shares of Klaviyo from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Klaviyo has a consensus rating of “Moderate Buy” and an average price target of $42.47.

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.