North Star Asset Management Inc. Invests $201,000 in Klaviyo, Inc. $KVYO

North Star Asset Management Inc. acquired a new stake in shares of Klaviyo, Inc. (NYSE:KVYO) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 6,000 shares of the company’s stock, valued at approximately $201,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KVYO. Elo Mutual Pension Insurance Co bought a new stake in Klaviyo in the 2nd quarter worth approximately $842,000. XTX Topco Ltd purchased a new stake in Klaviyo during the 2nd quarter valued at $2,617,000. American Century Companies Inc. boosted its stake in shares of Klaviyo by 123.4% in the 2nd quarter. American Century Companies Inc. now owns 2,685,480 shares of the company’s stock worth $90,178,000 after buying an additional 1,483,427 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Klaviyo by 44.7% in the 2nd quarter. Legal & General Group Plc now owns 93,215 shares of the company’s stock worth $3,130,000 after buying an additional 28,780 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Klaviyo by 105.1% in the second quarter. JPMorgan Chase & Co. now owns 1,692,854 shares of the company’s stock worth $56,846,000 after acquiring an additional 867,666 shares during the period. Institutional investors own 45.43% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on KVYO shares. Macquarie reduced their price objective on Klaviyo from $37.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, November 11th. Zacks Research raised shares of Klaviyo from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. Weiss Ratings initiated coverage on shares of Klaviyo in a research note on Saturday, November 1st. They issued a “sell (d-)” rating on the stock. Jefferies Financial Group raised shares of Klaviyo to a “strong-buy” rating in a report on Wednesday, October 22nd. Finally, Cantor Fitzgerald reduced their target price 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. One equities research 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 issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.90.

Klaviyo Stock Down 0.2%

NYSE KVYO opened at $28.44 on Thursday. Klaviyo, Inc. has a 52 week low of $23.44 and a 52 week high of $49.55. The company has a market capitalization of $8.59 billion, a P/E ratio of -118.47 and a beta of 1.26. The stock’s 50-day moving average price is $27.74 and its 200-day moving average price is $31.08.

Klaviyo (NYSE:KVYO) last released its earnings results on Thursday, September 25th. The company reported $0.16 earnings per share (EPS) for the quarter. Klaviyo had a negative net margin of 5.70% and a negative return on equity of 1.00%. The company had revenue of $293.12 million during the quarter. Research analysts anticipate that Klaviyo, Inc. will post 0.04 EPS for the current year.

Insiders Place Their Bets

In related news, Director Ed Hallen sold 89,748 shares of the company’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $31.71, for a total value of $2,845,909.08. Following the completion of the transaction, 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Summit Partners L. P sold 4,000,000 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $31.87, for a total value of $127,480,000.00. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 5,681,486 shares of company stock worth $178,090,999 over the last three months. 49.92% of the stock is currently owned by company 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.