Alkeon Capital Management LLC Buys New Shares in Klaviyo, Inc. (NYSE:KVYO)

Alkeon Capital Management LLC purchased a new position in shares of Klaviyo, Inc. (NYSE:KVYO) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 300,000 shares of the company’s stock, valued at approximately $10,614,000. Alkeon Capital Management LLC owned 0.11% of Klaviyo as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KVYO. Bank of New York Mellon Corp lifted its holdings in shares of Klaviyo by 677.7% during the second quarter. Bank of New York Mellon Corp now owns 2,762,128 shares of the company’s stock worth $68,749,000 after purchasing an additional 2,406,973 shares during the period. Glynn Capital Management LLC lifted its stake in Klaviyo by 19.7% during the 2nd quarter. Glynn Capital Management LLC now owns 1,363,768 shares of the company’s stock valued at $33,944,000 after acquiring an additional 224,461 shares during the period. Claro Advisors LLC boosted its holdings in shares of Klaviyo by 38.7% in the 2nd quarter. Claro Advisors LLC now owns 1,280,035 shares of the company’s stock valued at $31,860,000 after acquiring an additional 357,355 shares during the last quarter. Millennium Management LLC increased its stake in shares of Klaviyo by 53.6% in the second quarter. Millennium Management LLC now owns 1,120,485 shares of the company’s stock worth $27,889,000 after acquiring an additional 390,849 shares during the period. Finally, Mayflower Financial Advisors LLC raised its holdings in shares of Klaviyo by 181.4% during the third quarter. Mayflower Financial Advisors LLC now owns 684,948 shares of the company’s stock worth $24,233,000 after purchasing an additional 441,500 shares during the last quarter. Institutional investors and hedge funds own 45.43% of the company’s stock.

Klaviyo Stock Down 1.4 %

Shares of NYSE KVYO opened at $36.60 on Friday. The firm has a market cap of $9.87 billion, a price-to-earnings ratio of -203.32 and a beta of 1.13. The company’s 50-day simple moving average is $36.55 and its 200-day simple moving average is $29.94. Klaviyo, Inc. has a 52-week low of $21.26 and a 52-week high of $41.00.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, topping 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 company had revenue of $235.09 million for the quarter, compared to analysts’ expectations of $226.33 million. During the same period in the previous year, the firm posted ($1.24) EPS. Klaviyo’s revenue was up 33.7% compared to the same quarter last year. Equities research analysts anticipate that Klaviyo, Inc. will post 0.03 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Barclays upped their price target on shares of Klaviyo from $32.00 to $41.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Needham & Company LLC upped their target price on Klaviyo from $40.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Cantor Fitzgerald lifted their price target on Klaviyo from $33.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Macquarie restated a “neutral” rating and issued a $36.00 price objective on shares of Klaviyo in a research report on Friday, November 8th. Finally, Stifel Nicolaus started coverage on shares of Klaviyo in a report on Tuesday, October 22nd. They set a “buy” rating and a $45.00 target price for the company. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $39.00.

Insider Transactions at Klaviyo

In other news, CTO Allen Chaves sold 130,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $31.85, for a total value of $4,140,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Summit Partners L. P sold 107,205 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $31.33, for a total transaction of $3,358,732.65. The disclosure for this sale can be found here. Insiders have sold 352,969 shares of company stock valued at $11,447,138 over the last ninety days. 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.