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A recent SEC filing revealed that Summit Partners, a ten-percent owner of Klaviyo, Inc. (NYSE:KVYO), sold 6,500,000 shares of Series A Common Stock on August 13, 2025. The shares were sold at a price of $30.01, amounting to a total transaction value of $195,065,000. The sale price was slightly below Klaviyo’s current market price of $31.43, with the company commanding a market capitalization of $9.3 billion.
On the same day, Summit Partners also converted 7,000,000 shares of Series A Common Stock, par value $0.001 per share, and 7,000,000 shares of Series B Common Stock, par value $0.001 per share.
Following the sale, Summit Partners still owns 500,000 shares of Series A Common Stock. These shares are held indirectly through Summit Partners Growth Equity Fund IX-A, L.P. and Summit Partners Growth Equity Fund IX-B, L.P. to facilitate charitable giving. Additionally, Summit Partners holds 23,827,778 shares of Series B Common Stock.
Summit Partners, L.P. is the manager of Summit Partners GE IX, LLC, which is the general partner of Summit Partners GE IX, LP, which is the general partner of Summit Partners Growth Equity Fund IX-A, L.P. and Summit Partners Growth Equity Fund IX-B, L.P. Summit Partners, L.P. is the managing member of Summit Partners Co-Invest Kiwi GP, LLC, which is the general partner of Summit Partners Co-Invest (Kiwi), L.P. Summit Master Company, LLC is the general partner of Summit Partners, L.P., which is the manager of Summit Investors Management, LLC, which is the manager of Summit Investors GE IX/VC IV, LLC and the general partner of Summit Investors GE IX/VC IV (UK), L.P. For detailed analysis of Klaviyo’s financial health and growth prospects, access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Klaviyo Inc has reported significant developments that are catching the attention of investors. The company announced a 32% revenue growth in the second quarter, surpassing Wall Street expectations of 26%. This strong performance has led management to raise its fiscal year 2025 growth guidance to 27-28%, an increase of 200 basis points from prior forecasts. Meanwhile, Summit Partners, a major shareholder, plans to sell 6.5 million shares of Klaviyo’s Series A common stock in an underwritten public offering. Klaviyo will not receive any proceeds from this sale.
Analysts have reacted positively to Klaviyo’s recent performance. TD Cowen raised its price target for Klaviyo to $46, maintaining a Buy rating, and Piper Sandler increased its price target to $55, citing strong second-quarter results and robust international growth of 42% year-over-year. Benchmark also raised its price target to $46, highlighting the company’s infrastructure leverage and addressing concerns about operating margins. These developments reflect a positive outlook from analysts following Klaviyo’s recent earnings report.
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