WCM Investment Management LLC Takes Position in Klaviyo, Inc. (NYSE:KVYO)

WCM Investment Management LLC purchased a new position in Klaviyo, Inc. (NYSE:KVYO) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 305,404 shares of the company’s stock, valued at approximately $12,781,000.

Other hedge funds also recently bought and sold shares of the company. Whale Rock Capital Management LLC increased its holdings in shares of Klaviyo by 608.9% in the 3rd quarter. Whale Rock Capital Management LLC now owns 3,600,606 shares of the company’s stock worth $127,389,000 after purchasing an additional 3,092,725 shares in the last quarter. SpiderRock Advisors LLC increased its holdings in Klaviyo by 1,571.7% in the 3rd quarter. SpiderRock Advisors LLC now owns 501,500 shares of the company’s stock worth $17,743,000 after buying an additional 471,500 shares in the last quarter. Mayflower Financial Advisors LLC raised its position in Klaviyo by 181.4% in the 3rd quarter. Mayflower Financial Advisors LLC now owns 684,948 shares of the company’s stock worth $24,233,000 after buying an additional 441,500 shares during the last quarter. Two Sigma Advisers LP raised its position in Klaviyo by 121.5% in the 3rd quarter. Two Sigma Advisers LP now owns 673,500 shares of the company’s stock worth $23,828,000 after buying an additional 369,400 shares during the last quarter. Finally, Alkeon Capital Management LLC bought a new position in Klaviyo during the 3rd quarter valued at about $10,614,000. Institutional investors own 45.43% of the company’s stock.

Wall Street Analyst Weigh In

KVYO has been the subject of several research reports. Scotiabank boosted their price objective on shares of Klaviyo from $35.00 to $45.00 and gave the company a “sector perform” rating in a report on Wednesday, January 29th. Cantor Fitzgerald boosted 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. KeyCorp raised their price target on Klaviyo from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Robert W. Baird lifted their price objective on Klaviyo from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, Benchmark lowered their target price on Klaviyo from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $43.63.

Klaviyo Stock Down 1.4 %

KVYO stock opened at $46.98 on Monday. The business’s 50-day moving average price is $42.17 and its 200-day moving average price is $36.53. The stock has a market cap of $12.67 billion, a P/E ratio of -260.99 and a beta of 0.60. Klaviyo, Inc. has a twelve month low of $21.26 and a twelve month high of $48.73.

Insiders Place Their Bets

In other Klaviyo news, CFO Amanda Whalen sold 15,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $45.85, for a total transaction of $687,750.00. Following the sale, the chief financial officer now directly owns 376,820 shares of the company’s stock, valued at $17,277,197. This trade represents a 3.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Landon Edmond sold 40,000 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $41.80, for a total value of $1,672,000.00. Following the completion of the transaction, the insider now directly owns 298,607 shares of the company’s stock, valued at approximately $12,481,772.60. This trade represents a 11.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 174,072 shares of company stock worth $6,778,517. Company 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.