Pier 88 Investment Partners LLC Makes New $966,000 Investment in Klaviyo, Inc. (NYSE:KVYO)

Pier 88 Investment Partners LLC acquired a new stake in Klaviyo, Inc. (NYSE:KVYO) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 27,300 shares of the company’s stock, valued at approximately $966,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of KVYO. nVerses Capital LLC purchased a new position in shares of Klaviyo in the 3rd quarter valued at approximately $53,000. EntryPoint Capital LLC purchased a new position in Klaviyo during the first quarter valued at $71,000. Victory Capital Management Inc. bought a new stake in shares of Klaviyo during the 3rd quarter valued at $208,000. SG Americas Securities LLC bought a new stake in shares of Klaviyo during the 2nd quarter valued at $236,000. Finally, William Marsh Rice University purchased a new stake in shares of Klaviyo in the 3rd quarter worth about $245,000. 45.43% of the stock is owned by institutional investors.

Klaviyo Price Performance

KVYO opened at $36.67 on Thursday. Klaviyo, Inc. has a twelve month low of $21.26 and a twelve month high of $41.00. The firm has a 50 day moving average price of $35.40 and a 200-day moving average price of $28.92.

Klaviyo (NYSE:KVYO) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.04. Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. The firm had revenue of $235.09 million for the quarter, compared to analysts’ expectations of $226.33 million. During the same period in the prior year, the firm earned ($1.24) EPS. The company’s revenue was up 33.7% compared to the same quarter last year. Equities research analysts anticipate that Klaviyo, Inc. will post -0.01 EPS for the current fiscal year.

Analyst Ratings Changes

KVYO has been the subject of a number of recent research reports. Barclays lifted their price target on shares of Klaviyo from $32.00 to $41.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Benchmark lowered their target price on shares of Klaviyo from $42.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Needham & Company LLC boosted their price target on Klaviyo from $40.00 to $46.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Wells Fargo & Company restated a “buy” rating on shares of Klaviyo in a research note on Friday, October 18th. Finally, Robert W. Baird lifted their price objective on Klaviyo from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Klaviyo currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

Insiders Place Their Bets

In other Klaviyo news, CFO Amanda Whalen sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $29.72, for a total transaction of $297,200.00. Following the completion of the sale, the chief financial officer now directly owns 422,813 shares of the company’s stock, valued at approximately $12,566,002.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder Summit Partners L. P sold 242,601 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $31.78, for a total transaction of $7,709,859.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amanda Whalen sold 10,000 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $29.72, for a total transaction of $297,200.00. Following the completion of the sale, the chief financial officer now directly owns 422,813 shares of the company’s stock, valued at $12,566,002.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 659,711 shares of company stock valued at $21,036,946. Insiders own 53.24% of the company’s stock.

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.