Acadian Asset Management LLC Lowers Stock Position in Klaviyo, Inc. $KVYO

Acadian Asset Management LLC cut its position in shares of Klaviyo, Inc. (NYSE:KVYO) by 80.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 96,341 shares of the company’s stock after selling 399,388 shares during the quarter. Acadian Asset Management LLC’s holdings in Klaviyo were worth $3,233,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. CWM LLC lifted its position in shares of Klaviyo by 227.5% during the 1st quarter. CWM LLC now owns 930 shares of the company’s stock worth $28,000 after buying an additional 646 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Klaviyo during the second quarter valued at approximately $31,000. First Horizon Advisors Inc. bought a new stake in Klaviyo during the second quarter worth $37,000. State of Wyoming purchased a new position in Klaviyo in the first quarter worth $42,000. Finally, Caitong International Asset Management Co. Ltd boosted its position in Klaviyo by 217.9% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,421 shares of the company’s stock worth $43,000 after purchasing an additional 974 shares during the last quarter. 45.43% of the stock is owned by institutional investors.

Insider Activity at Klaviyo

In related news, Director Ed Hallen sold 89,748 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $31.71, for a total transaction of $2,845,909.08. Following the sale, the director owned 177,776 shares of the company’s stock, valued at approximately $5,637,276.96. This represents a 33.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Summit Partners L. P sold 4,000,000 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $31.87, for a total transaction of $127,480,000.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 5,789,084 shares of company stock valued at $182,120,957. Corporate insiders own 49.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on KVYO shares. Zacks Research upgraded Klaviyo from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Cantor Fitzgerald decreased their price objective on shares of Klaviyo from $48.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. KeyCorp dropped their target price on shares of Klaviyo from $50.00 to $45.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Wells Fargo & Company initiated coverage on shares of Klaviyo in a research report on Tuesday, September 30th. They set an “overweight” rating and a $40.00 target price for the company. Finally, Benchmark reaffirmed a “buy” rating on shares of Klaviyo in a report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $42.67.

Klaviyo Stock Performance

NYSE:KVYO opened at $28.61 on Friday. The business’s fifty day moving average is $28.47 and its 200 day moving average is $31.33. The firm has a market cap of $8.64 billion, a price-to-earnings ratio of -119.19 and a beta of 1.26. Klaviyo, Inc. has a 52-week low of $23.44 and a 52-week high of $49.55.

Klaviyo (NYSE:KVYO) last posted its earnings results on Thursday, September 25th. The company reported $0.16 earnings per share for the quarter. Klaviyo had a negative return on equity of 1.00% and a negative net margin of 5.70%.The business had revenue of $293.12 million during the quarter. Equities 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.