Klaviyo, Inc. (NYSE:KVYO) Shares Sold by Wealthspire Advisors LLC

Wealthspire Advisors LLC lessened its stake in Klaviyo, Inc. (NYSE:KVYO) by 49.0% during the 4th quarter, HoldingsChannel reports. The firm owned 7,285 shares of the company’s stock after selling 7,000 shares during the quarter. Wealthspire Advisors LLC’s holdings in Klaviyo were worth $300,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Lisanti Capital Growth LLC purchased a new stake in shares of Klaviyo during the 3rd quarter worth about $5,513,000. Pier 88 Investment Partners LLC acquired a new position in Klaviyo in the 3rd quarter worth about $966,000. SpiderRock Advisors LLC boosted its position in Klaviyo by 1,571.7% during the third quarter. SpiderRock Advisors LLC now owns 501,500 shares of the company’s stock worth $17,743,000 after purchasing an additional 471,500 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Klaviyo in the third quarter valued at approximately $5,113,000. Finally, Renaissance Capital LLC increased its position in shares of Klaviyo by 56.4% in the fourth quarter. Renaissance Capital LLC now owns 122,646 shares of the company’s stock valued at $5,058,000 after buying an additional 44,245 shares in the last quarter. Institutional investors and hedge funds own 45.43% of the company’s stock.

Insider Buying and Selling

In related news, President Stephen Eric Rowland sold 4,536 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $40.04, for a total value of $181,621.44. Following the completion of the sale, the president now owns 260,403 shares in the company, valued at $10,426,536.12. This trade represents a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Amanda Whalen sold 1,050 shares of Klaviyo stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $40.07, for a total transaction of $42,073.50. Following the sale, the chief financial officer now owns 395,616 shares of the company’s stock, valued at approximately $15,852,333.12. The trade was a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 114,536 shares of company stock valued at $4,720,953 over the last three months. 53.24% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Morgan Stanley boosted their price target on shares of Klaviyo from $47.00 to $50.00 and gave the stock an “equal weight” rating in a report on Thursday, February 20th. Robert W. Baird boosted their target price on shares of Klaviyo from $52.00 to $54.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. The Goldman Sachs Group upped their price target on shares of Klaviyo from $45.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Scotiabank lifted their price objective on Klaviyo from $35.00 to $45.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 29th. Finally, Benchmark boosted their price objective on Klaviyo from $40.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $49.44.

Klaviyo Price Performance

Shares of NYSE:KVYO opened at $39.88 on Friday. Klaviyo, Inc. has a 12 month low of $21.26 and a 12 month high of $49.55. The firm has a market capitalization of $10.75 billion, a P/E ratio of -221.56 and a beta of 0.60. The company’s fifty day moving average price is $43.58 and its 200 day moving average price is $38.31.

Klaviyo (NYSE:KVYO) last announced its earnings results on Wednesday, February 19th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $257.24 million. On average, sell-side analysts anticipate that Klaviyo, Inc. will post 0.04 EPS for the current year.

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.