Morangie Management LLC Acquires 142,153 Shares of Klaviyo, Inc. $KVYO

Morangie Management LLC increased its holdings in shares of Klaviyo, Inc. (NYSE:KVYO) by 35.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 545,319 shares of the company’s stock after purchasing an additional 142,153 shares during the period. Klaviyo makes up about 7.0% of Morangie Management LLC’s holdings, making the stock its 4th biggest position. Morangie Management LLC’s holdings in Klaviyo were worth $8,578,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Bank of America Corp DE increased its stake in shares of Klaviyo by 88.9% in the 1st quarter. Bank of America Corp DE now owns 1,686,770 shares of the company’s stock valued at $32,825,000 after acquiring an additional 793,613 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Klaviyo by 8.9% during the first quarter. Bank of New York Mellon Corp now owns 1,508,137 shares of the company’s stock worth $29,348,000 after acquiring an additional 123,480 shares in the last quarter. First Trust Advisors LP boosted its stake in Klaviyo by 46.5% during the first quarter. First Trust Advisors LP now owns 1,181,887 shares of the company’s stock worth $23,000,000 after acquiring an additional 374,959 shares in the last quarter. Barton Investment Management grew its holdings in Klaviyo by 56.7% in the first quarter. Barton Investment Management now owns 1,050,052 shares of the company’s stock worth $20,434,000 after purchasing an additional 380,010 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in Klaviyo by 15.6% in the first quarter. Janus Henderson Group PLC now owns 1,025,134 shares of the company’s stock worth $19,951,000 after purchasing an additional 138,356 shares during the period. Institutional investors and hedge funds own 45.43% of the company’s stock.

Wall Street Analyst Weigh In

KVYO has been the subject of several research analyst reports. Truist Financial decreased their price target on shares of Klaviyo from $35.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Mizuho set a $28.00 price objective on shares of Klaviyo in a research report on Thursday, August 6th. TD Cowen reduced their target price on Klaviyo from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Barclays decreased their target price on Klaviyo from $25.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, August 6th. Finally, BTIG Research decreased their target price on Klaviyo from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Klaviyo currently has an average rating of “Moderate Buy” and an average price target of $27.14.

Insider Buying and Selling

In other Klaviyo news, Director Ed Hallen sold 97,482 shares of Klaviyo stock in a transaction dated Wednesday, October 7th. The stock was sold at an average price of $17.40, for a total transaction of $1,696,186.80. Following the completion of the transaction, the director owned 55,290 shares in the company, valued at approximately $962,046. The trade was a 63.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Susan St. Ledger sold 2,328 shares of the business’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $15.93, for a total value of $37,085.04. Following the sale, the director directly owned 23,433 shares of the company’s stock, valued at $373,287.69. This represents a 9.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 5,275,468 shares of company stock worth $93,822,653 over the last ninety days. Insiders own 37.42% of the company’s stock.

Klaviyo Trading Up 6.4%

KVYO opened at $18.10 on Friday. The company’s fifty day moving average price is $17.41 and its two-hundred day moving average price is $16.98. Klaviyo, Inc. has a 1-year low of $12.53 and a 1-year high of $33.35. The company has a market cap of $5.15 billion, a price-to-earnings ratio of 85.05 and a beta of 0.67.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.19. The firm had revenue of $370.58 million during the quarter, compared to analysts’ expectations of $362.08 million. Klaviyo had a net margin of 0.49% and a return on equity of 5.67%. The business’s revenue was up 26.4% on a year-over-year basis. During the same period last year, the company earned $0.16 earnings per share. As a group, equities analysts forecast that Klaviyo, Inc. will post 0.20 earnings per share for the current fiscal year.

About Klaviyo

Klaviyo, Inc (NYSE: KVYO) provides a marketing automation and customer data platform designed primarily for businesses that sell directly to consumers. Its software helps companies collect, organize and analyze customer data, then use that information to create targeted and personalized marketing campaigns.

The company’s platform supports email, SMS and mobile push messaging, as well as automated workflows, audience segmentation, customer analytics, sign-up forms and related campaign-management tools.