Osterweis Capital Management Inc. Has $13.76 Million Stock Position in Klaviyo, Inc. (NYSE:KVYO)

Osterweis Capital Management Inc. raised its holdings in Klaviyo, Inc. (NYSE:KVYO) by 26.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 333,543 shares of the company’s stock after purchasing an additional 68,988 shares during the quarter. Osterweis Capital Management Inc.’s holdings in Klaviyo were worth $13,755,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of KVYO. Y Intercept Hong Kong Ltd acquired a new stake in Klaviyo in the fourth quarter valued at about $374,000. Handelsbanken Fonder AB bought a new position in shares of Klaviyo in the fourth quarter worth about $689,000. Telemark Asset Management LLC acquired a new stake in shares of Klaviyo in the 4th quarter valued at approximately $4,124,000. Renaissance Capital LLC grew its holdings in shares of Klaviyo by 56.4% during the 4th quarter. Renaissance Capital LLC now owns 122,646 shares of the company’s stock valued at $5,058,000 after purchasing an additional 44,245 shares during the last quarter. Finally, Barclays PLC increased its position in Klaviyo by 1,202.0% during the 3rd quarter. Barclays PLC now owns 12,825 shares of the company’s stock worth $453,000 after purchasing an additional 11,840 shares in the last quarter. Institutional investors own 45.43% of the company’s stock.

Insider Activity

In other news, major shareholder Summit Partners L. P sold 2,000,000 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $32.44, for a total value of $64,880,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Jeff Fagnan purchased 3,900 shares of the company’s stock in a transaction that occurred on Wednesday, April 9th. The shares were purchased at an average cost of $25.77 per share, for a total transaction of $100,503.00. Following the completion of the purchase, the insider now owns 3,900 shares in the company, valued at $100,503. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders sold 2,088,770 shares of company stock worth $67,947,356 in the last quarter. 53.24% of the stock is owned by corporate insiders.

Klaviyo Trading Down 2.7 %

Shares of Klaviyo stock opened at $25.95 on Thursday. The business has a 50-day moving average price of $35.35 and a two-hundred day moving average price of $38.16. Klaviyo, Inc. has a 1-year low of $21.26 and a 1-year high of $49.55. The company has a market cap of $7.09 billion, a P/E ratio of -144.17 and a beta of 1.39.

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

Analyst Ratings Changes

A number of brokerages have weighed in on KVYO. Canaccord Genuity Group raised their target price on shares of Klaviyo from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Scotiabank boosted their price objective on Klaviyo from $35.00 to $45.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 29th. Benchmark upped their target price on Klaviyo from $40.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Barclays lifted their price target on Klaviyo from $47.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Finally, Needham & Company LLC upped their price objective on Klaviyo from $46.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.89.

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.