Rakuten Securities Inc. Takes Position in Klaviyo, Inc. (NYSE:KVYO)

Rakuten Securities Inc. bought a new stake in shares of Klaviyo, Inc. (NYSE:KVYO) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,391 shares of the company’s stock, valued at approximately $344,000.

Several other hedge funds have also recently made changes to their positions in the business. Wellington Management Group LLP purchased a new stake in Klaviyo in the third quarter worth $5,047,000. Hudson Bay Capital Management LP purchased a new stake in Klaviyo in the third quarter worth $690,000. Summit Partners L P purchased a new stake in Klaviyo in the third quarter worth $1,708,162,000. FMR LLC purchased a new stake in Klaviyo in the third quarter worth $34,203,000. Finally, Lord Abbett & CO. LLC purchased a new stake in Klaviyo in the third quarter worth $5,111,000. 45.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Klaviyo news, insider Landon Edmond sold 3,545 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $24.15, for a total transaction of $85,611.75. Following the transaction, the insider now directly owns 167,127 shares in the company, valued at approximately $4,036,117.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Analysts Set New Price Targets

Several research firms have commented on KVYO. William Blair reissued an “outperform” rating on shares of Klaviyo in a report on Wednesday, February 28th. Needham & Company LLC reissued a “buy” rating and issued a $40.00 target price on shares of Klaviyo in a report on Wednesday, February 28th. Cantor Fitzgerald began coverage on Klaviyo in a report on Tuesday. They issued an “overweight” rating and a $31.00 target price on the stock. Barclays dropped their target price on Klaviyo from $37.00 to $32.00 and set an “equal weight” rating on the stock in a report on Friday, January 12th. Finally, The Goldman Sachs Group raised Klaviyo from a “neutral” rating to a “buy” rating and set a $36.00 price target on the stock in a report on Monday, February 5th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.19.

Klaviyo Price Performance

Klaviyo stock traded up $0.37 during midday trading on Wednesday, reaching $23.83. 1,098,005 shares of the stock traded hands, compared to its average volume of 837,685. The stock’s fifty day moving average is $26.43 and its 200-day moving average is $27.82. Klaviyo, Inc. has a 12 month low of $22.82 and a 12 month high of $39.47.

Klaviyo (NYSE:KVYO) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The firm had revenue of $201.62 million for the quarter, compared to the consensus estimate of $196.02 million. On average, research analysts expect that Klaviyo, Inc. will post -0.27 EPS for the current fiscal year.

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.