Pier 88 Investment Partners LLC Buys 11,400 Shares of Klaviyo, Inc. (NYSE:KVYO)

Pier 88 Investment Partners LLC increased its stake in Klaviyo, Inc. (NYSE:KVYO) by 41.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 38,700 shares of the company’s stock after purchasing an additional 11,400 shares during the quarter. Pier 88 Investment Partners LLC’s holdings in Klaviyo were worth $1,596,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Klaviyo by 9.1% during the 4th quarter. Vanguard Group Inc. now owns 7,721,855 shares of the company’s stock valued at $318,449,000 after buying an additional 646,628 shares in the last quarter. Whale Rock Capital Management LLC boosted its position in shares of Klaviyo by 608.9% in the third quarter. Whale Rock Capital Management LLC now owns 3,600,606 shares of the company’s stock valued at $127,389,000 after acquiring an additional 3,092,725 shares during the period. Bank of New York Mellon Corp grew its stake in Klaviyo by 5.0% during the fourth quarter. Bank of New York Mellon Corp now owns 2,926,187 shares of the company’s stock valued at $120,676,000 after acquiring an additional 140,127 shares in the last quarter. Clearbridge Investments LLC increased its holdings in Klaviyo by 0.9% during the 4th quarter. Clearbridge Investments LLC now owns 2,168,336 shares of the company’s stock worth $89,422,000 after acquiring an additional 19,567 shares during the period. Finally, American Century Companies Inc. lifted its stake in Klaviyo by 41.9% in the 4th quarter. American Century Companies Inc. now owns 1,209,612 shares of the company’s stock worth $49,884,000 after purchasing an additional 357,194 shares in the last quarter. 45.43% of the stock is currently owned by institutional investors.

Klaviyo Stock Performance

NYSE:KVYO opened at $30.95 on Monday. Klaviyo, Inc. has a fifty-two week low of $21.26 and a fifty-two week high of $49.55. The firm has a market cap of $8.45 billion, a PE ratio of -171.93 and a beta of 0.86. The business has a 50 day moving average price of $40.57 and a 200-day moving average price of $38.88.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings results on Wednesday, February 19th. The company reported ($0.06) earnings per share 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 firm had revenue of $270.16 million for the quarter, compared to analysts’ expectations of $257.24 million. Research analysts predict that Klaviyo, Inc. will post 0.04 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on KVYO. Stifel Nicolaus boosted their price target on shares of Klaviyo from $45.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Piper Sandler boosted their target price on Klaviyo from $50.00 to $53.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Benchmark raised their price target on Klaviyo from $40.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Mizuho boosted their price objective on Klaviyo from $42.00 to $52.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Finally, Cantor Fitzgerald raised their target price on shares of Klaviyo from $47.00 to $54.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $49.89.

Insider Buying and Selling

In related news, CFO Amanda Whalen sold 15,000 shares of Klaviyo stock in a transaction on Friday, March 14th. The shares were sold at an average price of $33.54, for a total value of $503,100.00. Following the sale, the chief financial officer now owns 349,623 shares in the company, valued at $11,726,355.42. The trade was a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Landon Edmond sold 40,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $41.80, for a total transaction of $1,672,000.00. Following the transaction, the insider now directly owns 298,607 shares in the company, valued at approximately $12,481,772.60. The trade was a 11.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,126,246 shares of company stock valued at $69,799,958 over the last ninety days. 53.24% of the stock is owned by insiders.

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.