Sierra Summit Advisors LLC Buys Shares of 192,816 Klaviyo, Inc. (NYSE:KVYO)

Sierra Summit Advisors LLC purchased a new position in shares of Klaviyo, Inc. (NYSE:KVYO) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 192,816 shares of the company’s stock, valued at approximately $7,952,000. Klaviyo makes up approximately 1.6% of Sierra Summit Advisors LLC’s portfolio, making the stock its 29th biggest position.

Other institutional investors and hedge funds have also modified their holdings of the company. CIBC Private Wealth Group LLC raised its holdings in Klaviyo by 169.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company’s stock worth $72,000 after purchasing an additional 1,102 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Klaviyo during the 4th quarter worth $196,000. US Bancorp DE purchased a new stake in shares of Klaviyo in the 4th quarter worth about $199,000. Keybank National Association OH acquired a new stake in Klaviyo in the 4th quarter valued at about $203,000. Finally, Bank Julius Baer & Co. Ltd Zurich increased its holdings in Klaviyo by 8.0% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,836 shares of the company’s stock valued at $220,000 after acquiring an additional 359 shares in the last quarter. Institutional investors and hedge funds own 45.43% of the company’s stock.

Analyst Ratings Changes

KVYO has been the topic of several recent research reports. Cantor Fitzgerald upped their price target on shares of Klaviyo from $47.00 to $54.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Piper Sandler upped their target price on Klaviyo from $50.00 to $53.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. The Goldman Sachs Group raised their price target on Klaviyo from $45.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. KeyCorp upped their price objective on Klaviyo from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Finally, Benchmark lifted their price objective on Klaviyo from $40.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Klaviyo has a consensus rating of “Moderate Buy” and an average price target of $49.89.

Klaviyo Stock Down 7.8 %

NYSE:KVYO opened at $25.71 on Monday. The company has a market cap of $7.02 billion, a P/E ratio of -142.85 and a beta of 1.39. The firm’s 50 day moving average is $39.26 and its two-hundred day moving average is $38.76. Klaviyo, Inc. has a fifty-two week low of $21.26 and a fifty-two week high of $49.55.

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

Insider Transactions at Klaviyo

In other Klaviyo news, major shareholder Summit Partners L. P sold 2,000,000 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $32.44, for a total value of $64,880,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Landon Edmond sold 40,000 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $41.80, for a total value of $1,672,000.00. Following the completion of the sale, the insider now directly owns 298,607 shares of the company’s stock, valued at $12,481,772.60. The trade was a 11.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,126,246 shares of company stock worth $69,799,958. 53.24% of the stock is currently owned by company 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.