5,000 Shares in Klaviyo, Inc. (NYSE:KVYO) Purchased by West Tower Group LLC

West Tower Group LLC acquired a new position in shares of Klaviyo, Inc. (NYSE:KVYO) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,000 shares of the company’s stock, valued at approximately $177,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Advisors Asset Management Inc. grew its position in Klaviyo by 145.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock worth $48,000 after purchasing an additional 808 shares during the last quarter. nVerses Capital LLC bought a new position in Klaviyo in the 3rd quarter worth about $53,000. Victory Capital Management Inc. bought a new position in Klaviyo in the 3rd quarter worth about $208,000. SG Americas Securities LLC bought a new position in Klaviyo in the 2nd quarter worth about $236,000. Finally, William Marsh Rice University bought a new position in shares of Klaviyo in the third quarter valued at approximately $245,000. Institutional investors and hedge funds own 45.43% of the company’s stock.

Insider Activity at Klaviyo

In other Klaviyo news, President Stephen Eric Rowland sold 18,114 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $37.19, for a total value of $673,659.66. Following the sale, the president now directly owns 192,488 shares in the company, valued at $7,158,628.72. This trade represents a 8.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Landon Edmond sold 40,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $34.56, for a total transaction of $1,382,400.00. Following the transaction, the insider now directly owns 236,621 shares of the company’s stock, valued at $8,177,621.76. The trade was a 14.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 354,269 shares of company stock worth $11,488,270. 53.24% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on KVYO. Stifel Nicolaus started coverage on shares of Klaviyo in a report on Tuesday, October 22nd. They issued a “buy” rating and a $45.00 price objective for the company. Macquarie restated a “neutral” rating and set a $36.00 target price on shares of Klaviyo in a report on Friday, November 8th. Canaccord Genuity Group upped their price target on shares of Klaviyo from $32.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Needham & Company LLC upped their price target on shares of Klaviyo from $40.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Piper Sandler upped their price target on shares of Klaviyo from $34.00 to $45.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $39.00.

Klaviyo Stock Up 0.9 %

Shares of KVYO opened at $37.24 on Tuesday. The company’s fifty day moving average is $36.36 and its 200-day moving average is $29.76. Klaviyo, Inc. has a 12 month low of $21.26 and a 12 month high of $41.00. The firm has a market cap of $10.04 billion, a price-to-earnings ratio of -206.88 and a beta of 1.13.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, topping the consensus estimate 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 company had revenue of $235.09 million for the quarter, compared to analyst estimates of $226.33 million. During the same quarter in the prior year, the business posted ($1.24) EPS. Klaviyo’s quarterly revenue was up 33.7% on a year-over-year basis. As a group, research analysts predict that Klaviyo, Inc. will post 0.03 earnings per share for the current fiscal year.

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.