Legato Capital Management LLC Grows Position in Klaviyo, Inc. (NYSE:KVYO)

Legato Capital Management LLC increased its position in shares of Klaviyo, Inc. (NYSE:KVYO) by 21.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 40,032 shares of the company’s stock after purchasing an additional 7,142 shares during the period. Legato Capital Management LLC’s holdings in Klaviyo were worth $1,651,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Lisanti Capital Growth LLC purchased a new position in shares of Klaviyo during the 3rd quarter worth about $5,513,000. Pier 88 Investment Partners LLC purchased a new stake in Klaviyo in the 3rd quarter valued at about $966,000. SpiderRock Advisors LLC boosted its position in Klaviyo by 1,571.7% in the 3rd quarter. SpiderRock Advisors LLC now owns 501,500 shares of the company’s stock valued at $17,743,000 after buying an additional 471,500 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in Klaviyo in the 3rd quarter valued at about $5,113,000. Finally, Barclays PLC boosted its position in Klaviyo by 1,202.0% in the 3rd quarter. Barclays PLC now owns 12,825 shares of the company’s stock valued at $453,000 after buying an additional 11,840 shares during the period. 45.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

KVYO has been the subject of several research reports. Morgan Stanley boosted their price objective on shares of Klaviyo from $38.00 to $47.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Macquarie reaffirmed a “neutral” rating and issued a $36.00 price target on shares of Klaviyo in a research report on Friday, November 8th. Canaccord Genuity Group boosted their price objective on shares of Klaviyo from $32.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Robert W. Baird boosted their price objective on shares of Klaviyo from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Loop Capital boosted their price objective on shares of Klaviyo from $45.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.88.

Klaviyo Stock Performance

Shares of NYSE KVYO opened at $47.59 on Wednesday. The company’s fifty day moving average price is $42.60 and its 200 day moving average price is $36.91. Klaviyo, Inc. has a 1 year low of $21.26 and a 1 year high of $49.55. The company has a market capitalization of $12.83 billion, a PE ratio of -264.39 and a beta of 0.60.

Insider Buying and Selling at Klaviyo

In other Klaviyo news, CFO Amanda Whalen sold 15,000 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.56, for a total transaction of $518,400.00. Following the transaction, the chief financial officer now directly owns 395,616 shares of the company’s stock, valued at $13,672,488.96. This trade represents a 3.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Stephen Eric Rowland sold 4,536 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $34.56, for a total transaction of $156,764.16. Following the transaction, the president now directly owns 186,785 shares in the company, valued at approximately $6,455,289.60. The trade was a 2.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 174,072 shares of company stock valued at $6,778,517 over the last ninety days. Corporate insiders own 53.24% of the company’s stock.

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.