Cwm LLC Acquires 2,628 Shares of Klaviyo, Inc. $KVYO

Cwm LLC lifted its holdings in Klaviyo, Inc. (NYSE:KVYO) by 282.6% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 3,558 shares of the company’s stock after acquiring an additional 2,628 shares during the quarter. Cwm LLC’s holdings in Klaviyo were worth $119,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Lord Abbett & CO. LLC increased its stake in shares of Klaviyo by 105.6% in the first quarter. Lord Abbett & CO. LLC now owns 1,538,220 shares of the company’s stock worth $46,546,000 after buying an additional 790,146 shares during the period. Vanguard Group Inc. boosted its position in Klaviyo by 9.7% during the 1st quarter. Vanguard Group Inc. now owns 8,467,933 shares of the company’s stock valued at $256,240,000 after buying an additional 746,078 shares during the period. 1832 Asset Management L.P. boosted its position in Klaviyo by 38.7% during the 1st quarter. 1832 Asset Management L.P. now owns 2,248,800 shares of the company’s stock valued at $68,049,000 after buying an additional 627,500 shares during the period. Trexquant Investment LP boosted its position in Klaviyo by 472.3% during the 1st quarter. Trexquant Investment LP now owns 371,707 shares of the company’s stock valued at $11,248,000 after buying an additional 306,762 shares during the period. Finally, Acadian Asset Management LLC boosted its position in Klaviyo by 162.0% during the 1st quarter. Acadian Asset Management LLC now owns 495,729 shares of the company’s stock valued at $14,986,000 after buying an additional 306,496 shares during the period. 45.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Ed Hallen sold 89,748 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $31.71, for a total value of $2,845,909.08. Following the completion of the transaction, the director directly owned 177,776 shares in the company, valued at $5,637,276.96. This trade represents a 33.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew Bialecki sold 226,702 shares of the stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $31.50, for a total transaction of $7,141,113.00. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 5,741,781 shares of company stock worth $180,719,288 in the last three months. 49.92% of the stock is owned by corporate insiders.

Analyst Ratings Changes

KVYO has been the subject of several analyst reports. Needham & Company LLC reissued a “buy” rating and set a $45.00 price target on shares of Klaviyo in a research report on Friday, September 26th. Jefferies Financial Group raised shares of Klaviyo to a “strong-buy” rating in a research report on Wednesday, October 22nd. Piper Sandler reissued an “overweight” rating and set a $50.00 price target (down previously from $55.00) on shares of Klaviyo in a research report on Friday, September 26th. Stephens dropped their price target on shares of Klaviyo from $45.00 to $43.00 and set an “overweight” rating for the company in a research report on Friday, September 26th. Finally, Stifel Nicolaus dropped their price target on shares of Klaviyo from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $43.33.

Klaviyo Trading Up 2.6%

Shares of Klaviyo stock opened at $26.04 on Friday. The company’s fifty day simple moving average is $29.16 and its two-hundred day simple moving average is $31.23. The company has a market cap of $7.81 billion, a P/E ratio of -104.14 and a beta of 1.26. Klaviyo, Inc. has a 12-month low of $23.44 and a 12-month high of $49.55.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings results on Thursday, September 25th. The company reported $0.16 earnings per share (EPS) for the quarter. The company had revenue of $293.12 million during the quarter. Klaviyo had a negative net margin of 6.19% and a negative return on equity of 1.12%. Analysts predict that Klaviyo, Inc. will post 0.04 EPS for the current fiscal year.

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.