Harbour Investments Inc. Boosts Holdings in Klaviyo, Inc. (NYSE:KVYO)

Harbour Investments Inc. boosted its holdings in shares of Klaviyo, Inc. (NYSE:KVYO) by 22,893.3% in the fourth quarter, HoldingsChannel reports. The fund owned 6,898 shares of the company’s stock after acquiring an additional 6,868 shares during the period. Harbour Investments Inc.’s holdings in Klaviyo were worth $284,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Y Intercept Hong Kong Ltd purchased a new position in Klaviyo during the 4th quarter valued at about $374,000. Handelsbanken Fonder AB purchased a new position in Klaviyo in the fourth quarter worth about $689,000. Telemark Asset Management LLC purchased a new position in Klaviyo in the fourth quarter worth about $4,124,000. Integrated Wealth Concepts LLC purchased a new position in Klaviyo in the third quarter worth about $5,113,000. Finally, Renaissance Capital LLC raised its holdings in Klaviyo by 56.4% in the fourth quarter. Renaissance Capital LLC now owns 122,646 shares of the company’s stock worth $5,058,000 after buying an additional 44,245 shares during the last quarter. 45.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on KVYO shares. Robert W. Baird lifted their price target 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. Canaccord Genuity Group lifted their price target on shares of Klaviyo from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Wells Fargo & Company reduced their price target on shares of Klaviyo from $48.00 to $45.00 and set an “equal weight” rating for the company in a research note on Thursday, February 20th. Barclays lifted their price target on shares of Klaviyo from $47.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Finally, Piper Sandler lifted their price target on shares of Klaviyo from $50.00 to $53.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Klaviyo has an average rating of “Moderate Buy” and an average price target of $49.89.

Insider Transactions at Klaviyo

In other news, insider Landon Edmond sold 40,000 shares of Klaviyo 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 sale, the insider now directly owns 298,607 shares of the company’s stock, valued at approximately $12,481,772.60. The trade was a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Amanda Whalen sold 15,000 shares of Klaviyo stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $39.18, for a total value of $587,700.00. Following the completion of the sale, the chief financial officer now directly owns 391,820 shares in the company, valued at $15,351,507.60. This trade represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,126,246 shares of company stock valued at $69,799,958. 53.24% of the stock is currently owned by insiders.

Klaviyo Price Performance

KVYO stock opened at $32.99 on Friday. Klaviyo, Inc. has a 1-year low of $21.26 and a 1-year high of $49.55. The business has a 50 day simple moving average of $41.23 and a two-hundred day simple moving average of $38.65. The company has a market capitalization of $9.01 billion, a price-to-earnings ratio of -183.30 and a beta of 0.86.

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