12 West Capital Management has fully exited its position in Klaviyo (NYSE: KVYO), selling 1,838,000 shares valued at approximately $39.42 million. This strategic move resulted in a significant decline of $59.68 million in the fund’s quarter-end position value, accounting for about 7% of its reportable U.S. equity assets under management as of March 31, 2026.
Despite Klaviyo’s recent revenue growth of 28% year-over-year and a positive operating margin, the stock has struggled, down 55% over the past year compared to the S&P 500’s 28% rise. The company’s management remains optimistic, raising full-year revenue guidance and initiating a $500 million share repurchase program. However, the exit by 12 West Capital suggests concerns over the sustainability of growth and potential market sentiment challenges.
For investors, the key takeaway is the stark contrast between Klaviyo’s operational performance and its stock price trajectory. This divergence may present a buying opportunity for long-term investors willing to navigate the current market sentiment.
Source: nasdaq.com