Aigen Investment Management LP Takes Position in Klaviyo, Inc. (NYSE:KVYO)

Aigen Investment Management LP bought a new position in shares of Klaviyo, Inc. (NYSE:KVYO) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 9,480 shares of the company’s stock, valued at approximately $335,000.

Other institutional investors have also added to or reduced their stakes in the company. nVerses Capital LLC acquired a new stake in Klaviyo during the third quarter worth about $53,000. EntryPoint Capital LLC acquired a new stake in Klaviyo during the first quarter worth about $71,000. SG Americas Securities LLC acquired a new stake in Klaviyo during the second quarter worth about $236,000. William Marsh Rice University acquired a new stake in Klaviyo during the third quarter worth about $245,000. Finally, Creative Planning acquired a new stake in Klaviyo during the third quarter worth about $254,000. 45.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on KVYO. Needham & Company LLC raised their price target on shares of Klaviyo from $40.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Benchmark cut their price target on shares of Klaviyo from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Stifel Nicolaus started coverage on shares of Klaviyo in a research note on Tuesday, October 22nd. They set a “buy” rating and a $45.00 price target for the company. Barclays lifted their target price on shares of Klaviyo from $32.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Finally, Macquarie reiterated a “neutral” rating and issued a $36.00 target price on shares of Klaviyo in a research note on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, Klaviyo presently has a consensus rating of “Moderate Buy” and an average price target of $39.00.

Insider Activity

In other news, major shareholder Summit Partners L. P sold 82,499 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $31.76, for a total value of $2,620,168.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Allen Chaves sold 130,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $31.85, for a total transaction of $4,140,500.00. The disclosure for this sale can be found here. Insiders sold 398,996 shares of company stock valued at $12,753,416 in the last quarter. Company insiders own 53.24% of the company’s stock.

Klaviyo Price Performance

KVYO stock opened at $35.17 on Friday. The company has a 50 day moving average price of $35.66 and a 200 day moving average price of $29.03. Klaviyo, Inc. has a fifty-two week low of $21.26 and a fifty-two week high of $41.00. The stock has a market capitalization of $9.38 billion, a PE ratio of -195.94 and a beta of 1.13.

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

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.