Cynosure Group LLC Increases Stake in Klaviyo, Inc. (NYSE:KVYO)

Cynosure Group LLC raised its position in shares of Klaviyo, Inc. (NYSE:KVYO) by 268.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 194,643 shares of the company’s stock after purchasing an additional 141,884 shares during the quarter. Klaviyo accounts for about 1.0% of Cynosure Group LLC’s investment portfolio, making the stock its 20th biggest holding. Cynosure Group LLC owned 0.07% of Klaviyo worth $6,886,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of KVYO. Advisors Asset Management Inc. lifted its holdings in shares of Klaviyo by 145.6% during the third quarter. Advisors Asset Management Inc. now owns 1,363 shares of the company’s stock valued at $48,000 after purchasing an additional 808 shares in the last quarter. nVerses Capital LLC bought a new position in Klaviyo during the 3rd quarter valued at about $53,000. West Tower Group LLC bought a new position in Klaviyo during the 3rd quarter valued at about $177,000. Victory Capital Management Inc. purchased a new stake in shares of Klaviyo during the 3rd quarter valued at about $208,000. Finally, SG Americas Securities LLC bought a new stake in shares of Klaviyo in the second quarter worth approximately $236,000. 45.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Klaviyo

In other news, CFO Amanda Whalen sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $29.72, for a total transaction of $297,200.00. Following the sale, the chief financial officer now directly owns 422,813 shares of the company’s stock, valued at $12,566,002.36. This represents a 2.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Stephen Eric Rowland sold 18,114 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $37.19, for a total transaction of $673,659.66. Following the completion of the transaction, the president now directly owns 192,488 shares of the company’s stock, valued at approximately $7,158,628.72. This trade represents a 8.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 354,269 shares of company stock valued at $11,488,270. Corporate insiders own 53.24% of the company’s stock.

Klaviyo Stock Performance

Shares of Klaviyo stock opened at $37.11 on Wednesday. The stock’s 50-day simple moving average is $36.43 and its 200-day simple moving average is $29.85. 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 results on Wednesday, November 6th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.04. The business had revenue of $235.09 million during the quarter, compared to the consensus estimate of $226.33 million. Klaviyo had a positive return on equity of 0.86% and a negative net margin of 5.23%. The firm’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.24) EPS. Research analysts predict that Klaviyo, Inc. will post 0.03 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on KVYO shares. Cantor Fitzgerald raised their target price on shares of Klaviyo from $33.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Canaccord Genuity Group upped their price objective on Klaviyo from $32.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Benchmark lowered their target price on Klaviyo from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Stifel Nicolaus initiated coverage on Klaviyo in a research note on Tuesday, October 22nd. They set a “buy” rating and a $45.00 price target for the company. Finally, KeyCorp upgraded shares of Klaviyo from a “sector weight” rating to an “overweight” rating and set a $33.00 price objective on the stock in a research note on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Klaviyo presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

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.