American Century Companies Inc. Increases Holdings in Klaviyo, Inc. $KVYO

American Century Companies Inc. increased its holdings in shares of Klaviyo, Inc. (NYSE:KVYO) by 123.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,685,480 shares of the company’s stock after purchasing an additional 1,483,427 shares during the quarter. American Century Companies Inc. owned approximately 0.90% of Klaviyo worth $90,178,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in KVYO. CWM LLC boosted its stake in Klaviyo by 227.5% in the 1st quarter. CWM LLC now owns 930 shares of the company’s stock worth $28,000 after purchasing an additional 646 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Klaviyo in the second quarter worth $31,000. First Horizon Advisors Inc. bought a new position in shares of Klaviyo during the second quarter worth $37,000. State of Wyoming bought a new position in shares of Klaviyo during the first quarter worth $42,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in Klaviyo by 217.9% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,421 shares of the company’s stock valued at $43,000 after acquiring an additional 974 shares in the last quarter. 45.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

KVYO has been the subject of several research reports. Zacks Research raised shares of Klaviyo from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. Jefferies Financial Group upgraded Klaviyo to a “strong-buy” rating in a research report on Wednesday, October 22nd. Cantor Fitzgerald dropped their price target on Klaviyo from $48.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. Wall Street Zen raised Klaviyo from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, TD Cowen upped their price objective on Klaviyo from $45.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $42.90.

Insider Buying and Selling at Klaviyo

In related news, Director Ed Hallen sold 89,748 shares of the business’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $31.71, for a total transaction of $2,845,909.08. Following the completion of the transaction, the director owned 177,776 shares in the company, valued at $5,637,276.96. The trade was a 33.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Summit Partners L. P sold 4,000,000 shares of the company’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $31.87, for a total value of $127,480,000.00. The SEC filing for this sale provides additional information. Insiders sold 5,681,486 shares of company stock worth $178,090,999 over the last 90 days. Company insiders own 53.24% of the company’s stock.

Klaviyo Trading Up 2.6%

Shares of KVYO opened at $28.48 on Wednesday. The company’s fifty day simple moving average is $27.85 and its 200-day simple moving average is $31.10. The company has a market cap of $8.60 billion, a P/E ratio of -118.66 and a beta of 1.26. Klaviyo, Inc. has a twelve month low of $23.44 and a twelve month high of $49.55.

Klaviyo (NYSE:KVYO) last released its quarterly earnings results on Thursday, September 25th. The company reported $0.16 EPS for the quarter. Klaviyo had a negative net margin of 5.70% and a negative return on equity of 1.00%. The firm had revenue of $293.12 million during the quarter. Analysts predict that Klaviyo, Inc. will post 0.04 earnings per share for the current fiscal year.

About Klaviyo

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.