Bryce Point Capital LLC Purchases New Position in Klaviyo, Inc. (NYSE:KVYO)

Bryce Point Capital LLC acquired a new position in shares of Klaviyo, Inc. (NYSE:KVYO) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 21,266 shares of the company’s stock, valued at approximately $877,000.

Other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in shares of Klaviyo by 27.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 424,357 shares of the company’s stock worth $15,014,000 after purchasing an additional 91,824 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in Klaviyo during the 3rd quarter worth $481,000. FMR LLC lifted its holdings in Klaviyo by 428.1% during the third quarter. FMR LLC now owns 100,982 shares of the company’s stock worth $3,573,000 after acquiring an additional 81,861 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in Klaviyo in the third quarter valued at about $5,113,000. Finally, State Street Corp increased its holdings in shares of Klaviyo by 7.9% in the third quarter. State Street Corp now owns 435,448 shares of the company’s stock worth $15,406,000 after acquiring an additional 32,034 shares in the last quarter. Institutional investors and hedge funds own 45.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on KVYO shares. Benchmark lifted their price objective on Klaviyo from $40.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Loop Capital upped their price target on shares of Klaviyo from $45.00 to $60.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Mizuho raised their price objective on shares of Klaviyo from $42.00 to $52.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Cantor Fitzgerald upped their target price on shares of Klaviyo from $47.00 to $54.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Finally, William Blair reiterated an “outperform” rating on shares of Klaviyo in a report on Thursday, February 20th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.89.

Klaviyo Trading Up 1.3 %

NYSE KVYO opened at $31.40 on Thursday. The firm has a market capitalization of $8.58 billion, a P/E ratio of -174.44 and a beta of 0.86. The firm’s fifty day moving average price is $39.94 and its two-hundred day moving average price is $38.81. Klaviyo, Inc. has a 1 year low of $21.26 and a 1 year high of $49.55.

Klaviyo (NYSE:KVYO) last issued its earnings results on Wednesday, February 19th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.12). The firm had revenue of $270.16 million during the quarter, compared to analyst estimates of $257.24 million. Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. On average, research analysts anticipate that Klaviyo, Inc. will post 0.04 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Summit Partners L. P sold 2,000,000 shares of Klaviyo stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $32.44, for a total transaction of $64,880,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Amanda Whalen sold 15,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $45.85, for a total transaction of $687,750.00. Following the completion of the transaction, the chief financial officer now directly owns 376,820 shares in the company, valued at approximately $17,277,197. This represents a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,126,246 shares of company stock valued at $69,799,958. 53.24% of the stock is owned by insiders.

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.