Oak Ridge Investments LLC Lowers Stock Position in Klaviyo, Inc. $KVYO

Oak Ridge Investments LLC lessened its holdings in Klaviyo, Inc. (NYSE:KVYO) by 4.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 48,903 shares of the company’s stock after selling 2,244 shares during the period. Oak Ridge Investments LLC’s holdings in Klaviyo were worth $1,642,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. TFC Financial Management Inc. purchased a new stake in shares of Klaviyo in the 1st quarter worth approximately $27,000. CWM LLC lifted its position in Klaviyo by 227.5% during the first quarter. CWM LLC now owns 930 shares of the company’s stock valued at $28,000 after acquiring an additional 646 shares during the last quarter. State of Wyoming purchased a new stake in Klaviyo during the first quarter valued at approximately $42,000. Caitong International Asset Management Co. Ltd lifted its position in Klaviyo by 217.9% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,421 shares of the company’s stock valued at $43,000 after acquiring an additional 974 shares during the last quarter. Finally, KBC Group NV purchased a new stake in Klaviyo during the first quarter valued at approximately $77,000. Hedge funds and other institutional investors own 45.43% of the company’s stock.

Insider Buying and Selling at Klaviyo

In other news, CFO Amanda Whalen sold 15,000 shares of the company’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $31.50, for a total value of $472,500.00. Following the sale, the chief financial officer owned 481,719 shares in the company, valued at $15,174,148.50. This represents a 3.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Bialecki sold 226,702 shares of the company’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $31.50, for a total value of $7,141,113.00. The disclosure for this sale can be found here. In the last three months, insiders sold 5,585,503 shares of company stock worth $177,012,731. 49.92% of the stock is currently owned by company insiders.

Klaviyo Trading Down 4.3%

NYSE KVYO opened at $24.51 on Friday. The company has a fifty day simple moving average of $31.14 and a two-hundred day simple moving average of $31.57. The stock has a market cap of $7.35 billion, a P/E ratio of -98.02 and a beta of 1.26. Klaviyo, Inc. has a 12-month low of $23.77 and a 12-month high of $49.55.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings results on Thursday, September 25th. The company reported $0.16 earnings per share (EPS) for the quarter. The business had revenue of $293.12 million during the quarter. Klaviyo had a negative net margin of 6.19% and a negative return on equity of 1.12%. As a group, sell-side analysts forecast that Klaviyo, Inc. will post 0.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on KVYO shares. Wall Street Zen cut shares of Klaviyo from a “buy” rating to a “hold” rating in a research report on Sunday, August 17th. Stephens decreased their target price on shares of Klaviyo from $45.00 to $43.00 and set an “overweight” rating for the company in a research report on Friday, September 26th. Piper Sandler reissued an “overweight” rating and set a $50.00 target price (down previously from $55.00) on shares of Klaviyo in a research report on Friday, September 26th. Needham & Company LLC reissued a “buy” rating and set a $45.00 target price on shares of Klaviyo in a research report on Friday, September 26th. Finally, TD Cowen raised their price target on shares of Klaviyo from $45.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Nineteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Klaviyo currently has a consensus rating of “Moderate Buy” and an average price target of $44.30.

Klaviyo 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.