Cabot Wealth Management Inc. Grows Stake in Klaviyo, Inc. (NYSE:KVYO)

Cabot Wealth Management Inc. boosted its position in Klaviyo, Inc. (NYSE:KVYO) by 101.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,425 shares of the company’s stock after purchasing an additional 45,451 shares during the period. Cabot Wealth Management Inc.’s holdings in Klaviyo were worth $3,199,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Salem Investment Counselors Inc. increased its position in Klaviyo by 161.1% during the first quarter. Salem Investment Counselors Inc. now owns 2,350 shares of the company’s stock worth $60,000 after buying an additional 1,450 shares in the last quarter. EntryPoint Capital LLC purchased a new position in Klaviyo during the first quarter worth $71,000. SG Americas Securities LLC purchased a new position in Klaviyo during the second quarter worth $236,000. Creative Planning purchased a new position in Klaviyo during the third quarter worth $254,000. Finally, SVB Wealth LLC purchased a new position in Klaviyo during the first quarter worth $299,000. 45.43% of the stock is owned by hedge funds and other institutional investors.

Klaviyo Stock Performance

Shares of NYSE KVYO traded up $0.81 during midday trading on Tuesday, reaching $37.42. 719,443 shares of the company’s stock were exchanged, compared to its average volume of 1,144,642. Klaviyo, Inc. has a 52-week low of $21.26 and a 52-week high of $38.10. The stock has a market capitalization of $9.90 billion and a PE ratio of -25.96. The business’s fifty day moving average price is $32.42 and its two-hundred day moving average price is $26.85.

Klaviyo (NYSE:KVYO) last announced its earnings results on Wednesday, August 7th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.05. Klaviyo had a negative return on equity of 32.19% and a negative net margin of 42.15%. The business had revenue of $222.21 million for the quarter, compared to analyst estimates of $212.34 million. During the same period in the previous year, the company earned $0.09 earnings per share. The company’s revenue for the quarter was up 35.0% compared to the same quarter last year. Analysts predict that Klaviyo, Inc. will post -0.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on KVYO shares. Benchmark started coverage on Klaviyo in a research report on Monday, September 30th. They set a “buy” rating and a $42.00 price target for the company. KeyCorp raised Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 price target for the company in a research report on Thursday, August 8th. Piper Sandler raised their price objective on Klaviyo from $30.00 to $34.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Robert W. Baird raised their price objective on Klaviyo from $35.00 to $42.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Finally, Barclays raised their price objective on Klaviyo from $32.00 to $41.00 and gave the stock an “overweight” rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.89.

Insider Transactions at Klaviyo

In other news, major shareholder Jeff Fagnan acquired 9,485 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was purchased at an average cost of $26.43 per share, with a total value of $250,688.55. Following the completion of the acquisition, the insider now directly owns 9,485 shares in the company, valued at $250,688.55. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, major shareholder Jeff Fagnan acquired 9,485 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was purchased at an average cost of $26.43 per share, with a total value of $250,688.55. Following the completion of the acquisition, the insider now directly owns 9,485 shares in the company, valued at $250,688.55. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Summit Partners L. P sold 242,601 shares of Klaviyo stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $31.78, for a total value of $7,709,859.78. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 853,363 shares of company stock valued at $26,937,202. 53.24% of the stock is currently owned by insiders.

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.