Main Management ETF Advisors LLC Acquires Shares of 31,816 Klaviyo, Inc. (NYSE:KVYO)

Main Management ETF Advisors LLC purchased a new stake in Klaviyo, Inc. (NYSE:KVYO) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 31,816 shares of the company’s stock, valued at approximately $1,126,000.

Other institutional investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. lifted its holdings in shares of Klaviyo by 145.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock valued at $48,000 after acquiring an additional 808 shares during the last quarter. nVerses Capital LLC bought a new position in shares of Klaviyo in the 3rd quarter valued at about $53,000. West Tower Group LLC bought a new position in shares of Klaviyo in the 3rd quarter valued at about $177,000. Victory Capital Management Inc. bought a new position in shares of Klaviyo in the 3rd quarter valued at about $208,000. Finally, William Marsh Rice University bought a new position in shares of Klaviyo in the 3rd quarter valued at about $245,000. Institutional investors own 45.43% of the company’s stock.

Insider Transactions at Klaviyo

In related news, CTO Allen Chaves sold 130,000 shares of the stock in a transaction that occurred 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 filing with the SEC, which is available at the SEC website. Also, major shareholder Summit Partners L. P sold 107,205 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $31.33, for a total transaction of $3,358,732.65. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 342,969 shares of company stock worth $11,149,938. Company insiders own 53.24% of the company’s stock.

Klaviyo Stock Performance

Shares of KVYO opened at $39.75 on Friday. Klaviyo, Inc. has a twelve month low of $21.26 and a twelve month high of $41.00. The company has a 50 day moving average of $36.90 and a two-hundred day moving average of $30.42.

Klaviyo (NYSE:KVYO) last announced its earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.04. The company had revenue of $235.09 million during the quarter, compared to the consensus estimate of $226.33 million. Klaviyo had a negative net margin of 5.23% and a positive return on equity of 0.86%. Klaviyo’s revenue was up 33.7% compared to the same quarter last year. During the same period last year, the firm earned ($1.24) earnings per share. Equities analysts expect that Klaviyo, Inc. will post 0.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on KVYO shares. Needham & Company LLC increased their price target on shares of Klaviyo from $40.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Canaccord Genuity Group increased their price objective on shares of Klaviyo from $32.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Robert W. Baird increased their price objective on shares of Klaviyo from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Piper Sandler increased their price objective on shares of Klaviyo from $34.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Finally, Wells Fargo & Company reissued a “buy” rating on shares of Klaviyo in a research report on Friday, October 18th. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Klaviyo currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

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.