Wealthspire Advisors LLC Decreases Position in Klaviyo, Inc. (NYSE:KVYO)

Wealthspire Advisors LLC decreased its position in shares of Klaviyo, Inc. (NYSE:KVYO) by 49.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,285 shares of the company’s stock after selling 7,000 shares during the quarter. Wealthspire Advisors LLC’s holdings in Klaviyo were worth $300,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Whale Rock Capital Management LLC raised its position in Klaviyo by 608.9% in the 3rd quarter. Whale Rock Capital Management LLC now owns 3,600,606 shares of the company’s stock worth $127,389,000 after buying an additional 3,092,725 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Klaviyo by 45.1% during the third quarter. Geode Capital Management LLC now owns 786,186 shares of the company’s stock valued at $27,827,000 after purchasing an additional 244,447 shares during the last quarter. Mayflower Financial Advisors LLC lifted its position in Klaviyo by 181.4% during the third quarter. Mayflower Financial Advisors LLC now owns 684,948 shares of the company’s stock valued at $24,233,000 after purchasing an additional 441,500 shares during the period. Two Sigma Advisers LP boosted its holdings in Klaviyo by 121.5% in the third quarter. Two Sigma Advisers LP now owns 673,500 shares of the company’s stock worth $23,828,000 after purchasing an additional 369,400 shares during the last quarter. Finally, SpiderRock Advisors LLC grew 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 worth $17,743,000 after purchasing an additional 471,500 shares during the period. Institutional investors own 45.43% of the company’s stock.

Klaviyo Price Performance

NYSE:KVYO opened at $39.88 on Friday. The firm has a market capitalization of $10.75 billion, a price-to-earnings ratio of -221.56 and a beta of 0.60. The business has a 50 day simple moving average of $43.58 and a 200-day simple moving average of $38.31. Klaviyo, Inc. has a 1 year low of $21.26 and a 1 year high of $49.55.

Klaviyo (NYSE:KVYO) last issued 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). The firm had revenue of $270.16 million for the quarter, compared to the consensus estimate of $257.24 million. Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. As a group, analysts expect that Klaviyo, Inc. will post 0.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

KVYO has been the subject of a number of research reports. Wells Fargo & Company reduced their price objective on Klaviyo from $48.00 to $45.00 and set an “equal weight” rating for the company in a research report on Thursday, February 20th. William Blair reaffirmed an “outperform” rating on shares of Klaviyo in a research report on Thursday, February 20th. Scotiabank raised their price objective on shares of Klaviyo from $35.00 to $45.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 29th. The Goldman Sachs Group upped their target price on shares of Klaviyo from $45.00 to $51.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Finally, Loop Capital lifted their price target 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 investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $49.44.

Insider Activity at Klaviyo

In related news, President Stephen Eric Rowland sold 4,536 shares of Klaviyo stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $40.04, for a total transaction of $181,621.44. Following the transaction, the president now directly owns 260,403 shares of the company’s stock, valued at $10,426,536.12. This trade represents a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Amanda Whalen sold 1,050 shares of Klaviyo stock in a transaction on Monday, December 9th. The shares were sold at an average price of $40.07, for a total value of $42,073.50. Following the completion of the transaction, the chief financial officer now owns 395,616 shares in the company, valued at $15,852,333.12. This represents a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 114,536 shares of company stock worth $4,720,953 in the last 90 days. 53.24% of the stock is owned by corporate insiders.

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.