Cynosure Group LLC Buys 141,884 Shares of Klaviyo, Inc. (NYSE:KVYO)

Cynosure Group LLC grew its stake in Klaviyo, Inc. (NYSE:KVYO) by 268.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 194,643 shares of the company’s stock after purchasing an additional 141,884 shares during the period. Klaviyo makes up about 1.0% of Cynosure Group LLC’s portfolio, making the stock its 20th biggest position. Cynosure Group LLC’s holdings in Klaviyo were worth $6,886,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

KVYO has been the subject of a number of recent analyst reports. Piper Sandler boosted their price objective on Klaviyo from $34.00 to $45.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Stifel Nicolaus assumed coverage on shares of Klaviyo in a research note on Tuesday, October 22nd. They set a “buy” rating and a $45.00 target price for the company. Canaccord Genuity Group raised their price target on shares of Klaviyo from $32.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Cantor Fitzgerald boosted their price objective on shares of Klaviyo from $33.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, Needham & Company LLC upped their target price on shares of Klaviyo from $40.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Klaviyo has an average rating of “Moderate Buy” and a consensus price target of $39.00.

Klaviyo Trading Down 0.3 %

Shares of NYSE:KVYO opened at $37.11 on Wednesday. Klaviyo, Inc. has a 12-month low of $21.26 and a 12-month high of $41.00. The business’s fifty day simple moving average is $36.43 and its 200-day simple moving average is $29.85.

Klaviyo (NYSE:KVYO) last posted its earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.04. The company had revenue of $235.09 million for 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%. The firm’s quarterly revenue was up 33.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.24) earnings per share. As a group, equities analysts anticipate that Klaviyo, Inc. will post 0.03 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Amanda Whalen sold 10,000 shares of Klaviyo stock in a transaction on Friday, September 6th. The shares were sold at an average price of $29.72, for a total transaction of $297,200.00. Following the completion of the sale, the chief financial officer now directly owns 422,813 shares in the company, valued at approximately $12,566,002.36. The trade was a 2.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Allen Chaves sold 130,000 shares of Klaviyo stock in a transaction dated Monday, September 16th. The stock was 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. Insiders have sold a total of 354,269 shares of company stock worth $11,488,270 in the last ninety days. 53.24% of the stock is owned by insiders.

Klaviyo 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.