FORA Capital LLC Takes Position in Klaviyo, Inc. (NYSE:KVYO)

FORA Capital LLC acquired a new position in Klaviyo, Inc. (NYSE:KVYO) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 27,627 shares of the company’s stock, valued at approximately $977,000.

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on KVYO shares. Macquarie restated a “neutral” rating and issued a $36.00 price target on shares of Klaviyo in a report on Friday, November 8th. Cantor Fitzgerald raised their target price on shares of Klaviyo from $33.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Stifel Nicolaus began coverage on Klaviyo in a research report on Tuesday, October 22nd. They set a “buy” rating and a $45.00 price target on the stock. Wells Fargo & Company reissued a “buy” rating on shares of Klaviyo in a research report on Friday, October 18th. Finally, Piper Sandler upped their target price on Klaviyo from $34.00 to $45.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. 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, the stock has an average rating of “Moderate Buy” and an average target price of $39.00.

Insider Buying and Selling at Klaviyo

In related news, CFO Amanda Whalen sold 10,000 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $29.72, for a total value of $297,200.00. Following the sale, the chief financial officer now directly owns 422,813 shares in the company, valued at $12,566,002.36. The trade was a 2.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Stephen Eric Rowland sold 4,536 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.56, for a total transaction of $156,764.16. Following the completion of the sale, the president now directly owns 186,785 shares in the company, valued at approximately $6,455,289.60. The trade was a 2.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 352,969 shares of company stock valued at $11,447,138. Corporate insiders own 53.24% of the company’s stock.

Klaviyo Stock Performance

Shares of KVYO stock opened at $36.60 on Friday. Klaviyo, Inc. has a 52-week low of $21.26 and a 52-week high of $41.00. The stock’s 50-day moving average price is $36.55 and its 200 day moving average price is $29.94.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. The firm had revenue of $235.09 million for the quarter, compared to the consensus estimate of $226.33 million. Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. The company’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.24) earnings per share. As a group, equities research analysts anticipate that Klaviyo, Inc. will post 0.03 EPS for the current 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.