Should You Invest in Klaviyo (KVYO)?

ClearBridge Investments, an investment management company, released its “ClearBridge Small Cap Growth Strategy” third quarter 2023 investor letter. A copy of the same can be downloaded here. The strategy underperformed the benchmark Russell 2000 Growth Index in the third quarter with particular weakness in several healthcare holdings. The strategy generated gains across three of the nine sectors in which it was invested during the quarter, on an absolute basis. Overall stock selection detracted from performance on a relative basis. In addition, please check the fund’s top five holdings to know its best picks in 2023.

ClearBridge Small Cap Growth Strategy highlighted stocks like Klaviyo, Inc. (NYSE:KVYO) in the third quarter 2023 investor letter. Headquartered in Boston, Massachusetts, Klaviyo, Inc. (NYSE:KVYO) is a technology company. On October 5, 2023, Klaviyo, Inc. (NYSE:KVYO) stock closed at $31.30 per share. Klaviyo, Inc. (NYSE:KVYO) shares lost 9.28% of their value over the last 5 days. Klaviyo, Inc. (NYSE:KVYO) has a market capitalization of $7.883 billion.

ClearBridge Small Cap Growth Strategy made the following comment about Klaviyo, Inc. (NYSE:KVYO) in its Q3 2023 investor letter:

“We began eight investments this quarter, including Klaviyo, Inc. (NYSE:KVYO), which made the transition from a private placement in the Strategy through the initial public offering process. We intend to augment these initial investments and build positions, provided company execution and market prospects remain vibrant.

Klaviyo is a founder-led software and database platform that provides marketing automation solutions primarily to smaller e-commerce customers. Leveraging a tight integration with e-commerce enablement provider Shopify and a disruptive technology architecture, Klaviyo has experienced rapid growth in a sizable core market, with opportunities to add additional products and customer groups, including the fitness/wellness market, and to expand internationally. Throughout its history, Klaviyo has managed to balance a robust growth rate with disciplined investment and has a path to meaningful long-term profitability.”

Klaviyo, Inc. (NYSE:KVYO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.