Integrated Wealth Concepts LLC Makes New $5.11 Million Investment in Klaviyo, Inc. (NYSE:KVYO)

Integrated Wealth Concepts LLC acquired a new position in shares of Klaviyo, Inc. (NYSE:KVYO) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 144,530 shares of the company’s stock, valued at approximately $5,113,000.

Several other hedge funds have also recently bought and sold shares of the stock. Advisors Asset Management Inc. lifted its position in Klaviyo by 145.6% during the third 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 acquired a new stake in Klaviyo during the third quarter worth approximately $53,000. Dark Forest Capital Management LP lifted its position in Klaviyo by 13.7% during the second quarter. Dark Forest Capital Management LP now owns 23,689 shares of the company’s stock worth $590,000 after acquiring an additional 2,851 shares during the last quarter. West Tower Group LLC acquired a new stake in Klaviyo during the third quarter worth approximately $177,000. Finally, Victory Capital Management Inc. acquired a new stake in Klaviyo during the third quarter worth approximately $208,000. 45.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on KVYO shares. Wells Fargo & Company restated a “buy” rating on shares of Klaviyo in a research report on Friday, October 18th. 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. Macquarie reaffirmed a “neutral” rating and set a $36.00 target price on shares of Klaviyo in a report on Friday, November 8th. Needham & Company LLC raised their target price on shares of Klaviyo from $40.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Benchmark lowered their target price on shares of Klaviyo from $42.00 to $40.00 and set a “buy” rating on the stock in a report 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, Klaviyo has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

Klaviyo Stock Performance

NYSE KVYO opened at $38.96 on Thursday. The firm’s fifty day moving average price is $36.85 and its two-hundred day moving average price is $30.36. The stock has a market cap of $10.50 billion, a PE ratio of -216.43 and a beta of 0.97. Klaviyo, Inc. has a fifty-two week low of $21.26 and a fifty-two week high of $41.00.

Klaviyo (NYSE:KVYO) last posted its earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. The firm had revenue of $235.09 million for 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 company’s revenue was up 33.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.24) earnings per share. As a group, sell-side analysts predict that Klaviyo, Inc. will post 0.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Allen Chaves sold 130,000 shares of Klaviyo stock in a transaction on Monday, September 16th. The shares were sold at an average price of $31.85, for a total transaction of $4,140,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Amanda Whalen sold 15,000 shares of Klaviyo stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.56, for a total transaction of $518,400.00. Following the transaction, the chief financial officer now owns 395,616 shares in the company, valued at approximately $13,672,488.96. This trade represents a 3.65 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 352,969 shares of company stock valued at $11,447,138. 53.24% of the stock is currently 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.