FORA Capital LLC Purchases Shares of 27,627 Klaviyo, Inc. (NYSE:KVYO)

FORA Capital LLC bought a new stake in Klaviyo, Inc. (NYSE:KVYO) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 27,627 shares of the company’s stock, valued at approximately $977,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. raised 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 worth $48,000 after acquiring an additional 808 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of Klaviyo in the third quarter worth approximately $53,000. Dark Forest Capital Management LP lifted its holdings in shares of Klaviyo by 13.7% in the second quarter. Dark Forest Capital Management LP now owns 23,689 shares of the company’s stock valued at $590,000 after purchasing an additional 2,851 shares in the last quarter. West Tower Group LLC purchased a new position in shares of Klaviyo during the third quarter valued at approximately $177,000. Finally, Victory Capital Management Inc. bought a new stake in Klaviyo during the third quarter worth $208,000. Institutional investors and hedge funds own 45.43% of the company’s stock.

Insiders Place Their Bets

In other Klaviyo news, President Stephen Eric Rowland sold 4,536 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.56, for a total transaction of $156,764.16. Following the completion of the transaction, the president now owns 186,785 shares of the company’s stock, valued at $6,455,289.60. This represents a 2.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 disclosure for this sale can be found here. In the last quarter, insiders sold 352,969 shares of company stock worth $11,447,138. Corporate insiders own 53.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on KVYO. KeyCorp upgraded shares of Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 target price for the company in a research note on Thursday, August 8th. Canaccord Genuity Group boosted their price target on shares of Klaviyo from $32.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Barclays increased their price objective on shares of Klaviyo from $32.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Stifel Nicolaus assumed coverage on Klaviyo in a report on Tuesday, October 22nd. They set a “buy” rating and a $45.00 price target on the stock. Finally, Macquarie reissued a “neutral” rating and set a $36.00 target price on shares of Klaviyo in a research report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Klaviyo presently has an average rating of “Moderate Buy” and an average target price of $39.00.

Klaviyo Trading Down 1.4 %

Shares of KVYO stock opened at $36.60 on Friday. The company has a 50 day moving average price of $36.55 and a 200-day moving average price of $29.94. Klaviyo, Inc. has a 52 week low of $21.26 and a 52 week high of $41.00.

Klaviyo (NYSE:KVYO) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.11 by $0.04. The firm had revenue of $235.09 million during the quarter, compared to analyst estimates of $226.33 million. Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. Klaviyo’s revenue was up 33.7% on a year-over-year basis. During the same period in the prior year, the business posted ($1.24) EPS. As a group, sell-side analysts anticipate that Klaviyo, Inc. will post 0.03 EPS for the current year.

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.