Sands Capital Management LLC Has $37.24 Million Stake in Klaviyo, Inc. $KVYO

Sands Capital Management LLC lifted its stake in Klaviyo, Inc. (NYSE:KVYO) by 14.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,109,069 shares of the company’s stock after buying an additional 136,320 shares during the period. Sands Capital Management LLC’s holdings in Klaviyo were worth $37,243,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership lifted its position in shares of Klaviyo by 21.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,386,559 shares of the company’s stock valued at $46,561,000 after acquiring an additional 244,339 shares during the period. Quantbot Technologies LP lifted its position in Klaviyo by 111.6% during the second quarter. Quantbot Technologies LP now owns 259,094 shares of the company’s stock worth $8,700,000 after purchasing an additional 136,662 shares during the period. HBK Investments L P bought a new stake in Klaviyo during the second quarter worth about $252,000. New York State Common Retirement Fund grew its stake in Klaviyo by 1,979.9% during the second quarter. New York State Common Retirement Fund now owns 322,368 shares of the company’s stock worth $10,825,000 after buying an additional 306,869 shares in the last quarter. Finally, Norges Bank bought a new position in Klaviyo in the 2nd quarter valued at about $52,629,000. Institutional investors own 45.43% of the company’s stock.

Klaviyo Stock Up 1.8%

NYSE KVYO opened at $28.67 on Wednesday. The company has a market cap of $8.66 billion, a price-to-earnings ratio of -119.47 and a beta of 1.18. Klaviyo, Inc. has a twelve month low of $23.44 and a twelve month high of $49.55. The business’s fifty day moving average is $27.22 and its 200 day moving average is $30.85.

Klaviyo (NYSE:KVYO) last issued its quarterly earnings data on Thursday, September 25th. The company reported $0.16 earnings per share for the quarter. The business had revenue of $293.12 million for the quarter. Klaviyo had a negative return on equity of 1.00% and a negative net margin of 5.70%. On average, research analysts anticipate that Klaviyo, Inc. will post 0.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Macquarie cut their price target on shares of Klaviyo from $37.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, November 11th. Zacks Research upgraded Klaviyo from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. TD Cowen lifted their price target on Klaviyo from $45.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Wall Street Zen cut Klaviyo from a “buy” rating to a “hold” rating in a report on Friday, November 28th. Finally, Morgan Stanley raised Klaviyo from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $40.00 to $50.00 in a research note on Friday, September 19th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $42.90.

Insider Activity

In related news, Director Ed Hallen sold 89,748 shares of Klaviyo stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $31.71, for a total transaction of $2,845,909.08. Following the sale, the director directly owned 177,776 shares in the company, valued at $5,637,276.96. This trade represents a 33.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Summit Partners L. P sold 4,000,000 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $31.87, for a total transaction of $127,480,000.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 5,602,899 shares of company stock valued at $175,185,919 over the last quarter. 53.24% of the stock is owned by company 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.