Harbour Investments Inc. Purchases 6,868 Shares of Klaviyo, Inc. (NYSE:KVYO)

Harbour Investments Inc. increased its position in shares of Klaviyo, Inc. (NYSE:KVYO) by 22,893.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,898 shares of the company’s stock after buying an additional 6,868 shares during the period. Harbour Investments Inc.’s holdings in Klaviyo were worth $284,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of KVYO. Whale Rock Capital Management LLC grew its holdings in Klaviyo by 608.9% in the third 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 during the period. Bank of New York Mellon Corp grew its holdings in Klaviyo by 5.0% in the fourth quarter. Bank of New York Mellon Corp now owns 2,926,187 shares of the company’s stock worth $120,676,000 after purchasing an additional 140,127 shares during the period. Geode Capital Management LLC grew its holdings in Klaviyo by 45.1% in the third quarter. Geode Capital Management LLC now owns 786,186 shares of the company’s stock worth $27,827,000 after purchasing an additional 244,447 shares during the period. Two Sigma Advisers LP grew its holdings in Klaviyo by 121.5% in the third quarter. Two Sigma Advisers LP now owns 673,500 shares of the company’s stock worth $23,828,000 after purchasing an additional 369,400 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Klaviyo by 9.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 464,459 shares of the company’s stock worth $19,154,000 after purchasing an additional 40,102 shares during the period. Institutional investors own 45.43% of the company’s stock.

Klaviyo Stock Performance

Shares of KVYO stock opened at $32.99 on Friday. The firm has a market cap of $9.01 billion, a price-to-earnings ratio of -183.30 and a beta of 0.86. Klaviyo, Inc. has a 52 week low of $21.26 and a 52 week high of $49.55. The firm’s 50-day simple moving average is $41.23 and its two-hundred day simple moving average is $38.65.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings results on Wednesday, February 19th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.12). Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. The business had revenue of $270.16 million during the quarter, compared to the consensus estimate of $257.24 million. Analysts forecast that Klaviyo, Inc. will post 0.04 earnings per share for the current year.

Analyst Ratings Changes

KVYO has been the subject of a number of analyst reports. Benchmark lifted their price objective on shares of Klaviyo from $40.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. The Goldman Sachs Group lifted their price objective on shares of Klaviyo from $45.00 to $51.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Stifel Nicolaus lifted their price objective on shares of Klaviyo from $45.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Loop Capital lifted their price objective on shares of Klaviyo from $45.00 to $60.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Finally, Piper Sandler lifted their price objective on shares of Klaviyo from $50.00 to $53.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Klaviyo has an average rating of “Moderate Buy” and an average target price of $49.89.

Insider Activity

In related news, CFO Amanda Whalen sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $39.18, for a total transaction of $587,700.00. Following the sale, the chief financial officer now owns 391,820 shares of the company’s stock, valued at approximately $15,351,507.60. This represents a 3.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Summit Partners L. P sold 2,000,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $32.44, for a total transaction of $64,880,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,126,246 shares of company stock valued at $69,799,958 over the last quarter. Company insiders own 53.24% of the company’s stock.

About Klaviyo

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.