ClearBridge Investments Takes 5.0% Stake in Klaviyo (KVYO)

TL;DR

**ClearBridge Investments just disclosed a 5.0% stake in Klaviyo, signaling institutional confidence.**

AI Summary

ClearBridge Investments, LLC, a Delaware-based investment firm, reported beneficial ownership of 5,435,000 shares of Klaviyo, Inc.'s Series A common stock as of December 31, 2023. This represents 5.0% of Klaviyo's outstanding shares, making ClearBridge a significant institutional holder. This matters to investors because it signals that a major investment firm sees value in Klaviyo, potentially boosting confidence in the stock, but also means a large block of shares could be sold if ClearBridge changes its investment thesis.

Why It Matters

This filing reveals a significant institutional investor, ClearBridge Investments, has taken a notable position in Klaviyo, which can influence market perception and future stock movements.

Risk Assessment

Risk Level: low — The filing indicates a significant institutional investment, which generally adds stability and confidence to a stock.

Analyst Insight

A smart investor would view this as a positive signal, indicating institutional confidence in Klaviyo. They might consider further research into Klaviyo's fundamentals and ClearBridge's investment strategy to determine if an investment aligns with their own portfolio goals.

Key Numbers

• 5,435,000 — Shares Beneficially Owned (The total number of Klaviyo shares ClearBridge Investments, LLC holds.)
• 5.0% — Ownership Percentage (The percentage of Klaviyo's Series A common stock owned by ClearBridge Investments, LLC.)
• December 31, 2023 — Reporting Date (The date as of which the ownership stake was reported.)

Key Players & Entities

• ClearBridge Investments, LLC (company) — the reporting person and institutional investor
• Klaviyo, Inc. (company) — the subject company whose stock was acquired
• 5,435,000 (dollar_amount) — number of shares beneficially owned by ClearBridge Investments
• 5.0% (dollar_amount) — percentage of Klaviyo's outstanding shares owned by ClearBridge Investments
• December 31, 2023 (date) — the date of the event requiring the filing
• Delaware (company) — place of organization for ClearBridge Investments, LLC

Forward-Looking Statements

• Other institutional investors may increase their positions in Klaviyo, Inc. (Klaviyo, Inc.) — medium confidence, target: Q1 2024

FAQ

From the Filing

0001348883-24-000006.txt : 20240209 0001348883-24-000006.hdr.sgml : 20240209 20240209153336 ACCESSION NUMBER: 0001348883-24-000006 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240209 DATE AS OF CHANGE: 20240209 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Klaviyo, Inc. CENTRAL INDEX KEY: 0001835830 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] ORGANIZATION NAME: 06 Technology IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-94164 FILM NUMBER: 24614424 BUSINESS ADDRESS: STREET 1: 125 SUMMER STREET, FLOOR 6 CITY: BOSTON STATE: MA ZIP: 02110 BUSINESS PHONE: 800-338-1744 MAIL ADDRESS: STREET 1: 125 SUMMER STREET, FLOOR 6 CITY: BOSTON STATE: MA ZIP: 02110 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Clearbridge Investments, LLC CENTRAL INDEX KEY: 0001348883 ORGANIZATION NAME: IRS NUMBER: 010846058 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 620 8TH AVENUE CITY: NEW YORK STATE: NY ZIP: 10018 BUSINESS PHONE: 800-691-6959 MAIL ADDRESS: STREET 1: 620 8TH AVENUE CITY: NEW YORK STATE: NY ZIP: 10018 FORMER COMPANY: FORMER CONFORMED NAME: Clearbridge Advisors, LLC DATE OF NAME CHANGE: 20061012 FORMER COMPANY: FORMER CONFORMED NAME: CAM North America, LLC DATE OF NAME CHANGE: 20060105 SC 13G 1 klav23in.htm klav23in.htm - Generated by SEC Publisher for SEC Filing CUSIP NO. 49845K101 13G Page 1 of 7 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. )* KLAVIYO, INC. (Name of Issuer) Series A common stock, par value $0.001 per share (Title of Class of Securities) 49845K101 (CUSIP Number) December 31, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d‑1(b) [ ] Rule 13d‑1(c) [ ] Rule 13d‑1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP NO. 49845K101 13G Page 2 of 7 1. NAMES OF REPORTING PERSONS. ClearBridge Investments, LLC 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (b) X 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5. SOLE VOTING POWER (See Item 4) 6. SHARED VOTING POWER (See Item 4) 7. SOLE DISPOSITIVE POWER (See Item 4) 8. SHARED DISPOSITIVE POWER (See Item 4) 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,174,097 1 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.7% 12. TYPE OF REPORTING PERSON IA, OO (See Item 4) 1 Shares include Series A common stock and 1,198,268 shares of Series B common stock, which are convertible into Series A common stock. The rights of the holders of Series A common stock and Series B common stock are identical, except with the respect to voting and conversion. Each share of Series A common stock is entitled to one vote per share and is not convertible into any other shares of the Issuer’s capital stock. Each share of Series B common stock is entitled to 10 votes per share and is convertible into one share of Series A common stock at any time. CUSIP NO. 49845K101 13G Page 3 of 7 Item 1. (a) Name of Issuer KLAVIYO, INC. (b) Address of Issuer's Principal Executive Off