West Tower Group LLC Invests $177,000 in Klaviyo, Inc. (NYSE:KVYO)

West Tower Group LLC purchased a new position in shares of Klaviyo, Inc. (NYSE:KVYO) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 5,000 shares of the company’s stock, valued at approximately $177,000.

Other institutional investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. grew its holdings in 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 during the period. nVerses Capital LLC acquired a new position in Klaviyo during the third quarter valued at approximately $53,000. Victory Capital Management Inc. acquired a new position in Klaviyo during the third quarter valued at approximately $208,000. William Marsh Rice University acquired a new position in Klaviyo during the third quarter valued at approximately $245,000. Finally, Creative Planning acquired a new position in Klaviyo during the third quarter valued at approximately $254,000. Institutional investors and hedge funds own 45.43% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Needham & Company LLC boosted their price objective on shares of Klaviyo from $40.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Canaccord Genuity Group upped their price target on shares of Klaviyo from $32.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Piper Sandler upped their price target on shares of Klaviyo from $34.00 to $45.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Robert W. Baird upped their price target on shares of Klaviyo from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company reiterated a “buy” rating on shares of Klaviyo in a report on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Klaviyo currently has an average rating of “Moderate Buy” and a consensus price target of $39.00.

Insider Transactions at Klaviyo

In related news, CFO Amanda Whalen sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $34.56, for a total value of $518,400.00. Following the completion of the transaction, the chief financial officer now owns 395,616 shares in the company, valued at $13,672,488.96. This trade represents a 3.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Stephen Eric Rowland sold 18,114 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $37.19, for a total transaction of $673,659.66. Following the transaction, the president now owns 192,488 shares of the company’s stock, valued at approximately $7,158,628.72. The trade was a 8.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 354,269 shares of company stock valued at $11,488,270. 53.24% of the stock is currently owned by insiders.

Klaviyo Stock Up 0.9 %

Shares of Klaviyo stock opened at $37.24 on Tuesday. The company has a market capitalization of $10.04 billion, a price-to-earnings ratio of -206.88 and a beta of 1.13. Klaviyo, Inc. has a 12-month low of $21.26 and a 12-month high of $41.00. The firm’s 50-day moving average price is $36.36 and its two-hundred day moving average price is $29.76.

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

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.