Sands Capital Ventures LLC Boosts Stock Holdings in Klaviyo, Inc. (NYSE:KVYO)

Sands Capital Ventures LLC raised its holdings in shares of Klaviyo, Inc. (NYSE:KVYO) by 0.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,516,221 shares of the company’s stock after purchasing an additional 1,324 shares during the period. Klaviyo accounts for about 29.3% of Sands Capital Ventures LLC’s holdings, making the stock its 2nd largest holding. Sands Capital Ventures LLC’s holdings in Klaviyo were worth $87,519,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Janus Henderson Group PLC purchased a new stake in shares of Klaviyo in the 1st quarter worth about $662,000. Swiss National Bank purchased a new stake in Klaviyo in the first quarter worth about $1,776,000. Claro Advisors LLC purchased a new stake in Klaviyo in the first quarter worth about $23,510,000. Norges Bank bought a new stake in Klaviyo during the 4th quarter valued at approximately $21,258,000. Finally, Blair William & Co. IL raised its position in shares of Klaviyo by 1,234.0% in the 1st quarter. Blair William & Co. IL now owns 175,531 shares of the company’s stock worth $4,473,000 after acquiring an additional 162,373 shares in the last quarter. Institutional investors own 45.43% of the company’s stock.

Wall Street Analyst Weigh In

KVYO has been the topic of several recent research reports. KeyCorp raised Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 price target on the stock in a research note on Thursday, August 8th. Barclays raised their target price on shares of Klaviyo from $29.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Cantor Fitzgerald boosted their price target on Klaviyo from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price objective on shares of Klaviyo in a research report on Wednesday, September 4th. Finally, Piper Sandler lifted their price objective on Klaviyo from $30.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $35.65.

Insiders Place Their Bets

In other news, major shareholder Summit Partners L. P sold 242,601 shares of the 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Klaviyo news, CTO Allen Chaves sold 130,000 shares of Klaviyo stock in a transaction on 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 this hyperlink. Also, major shareholder Summit Partners L. P sold 242,601 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $31.78, for a total transaction of $7,709,859.78. The disclosure for this sale can be found here. Insiders have sold a total of 843,363 shares of company stock valued at $26,583,602 in the last quarter. 53.24% of the stock is currently owned by insiders.

Klaviyo Stock Performance

KVYO opened at $34.04 on Friday. The firm’s fifty day moving average is $29.21 and its 200 day moving average is $25.73. Klaviyo, Inc. has a fifty-two week low of $21.26 and a fifty-two week high of $37.36.

Klaviyo (NYSE:KVYO) last released its earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.05. The firm had revenue of $222.21 million during the quarter, compared to analysts’ expectations of $212.34 million. Klaviyo had a negative return on equity of 32.19% and a negative net margin of 42.15%. The firm’s revenue was up 35.0% on a year-over-year basis. During the same quarter last year, the business posted $0.09 earnings per share. Equities analysts forecast 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.