American Century Companies Inc. Has $49.88 Million Stake in Klaviyo, Inc. (NYSE:KVYO)

American Century Companies Inc. increased its position in Klaviyo, Inc. (NYSE:KVYO - Free Report) by 41.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,209,612 shares of the company's stock after purchasing an additional 357,194 shares during the quarter. American Century Companies Inc. owned approximately 0.45% of Klaviyo worth $49,884,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Y Intercept Hong Kong Ltd bought a new position in shares of Klaviyo during the fourth quarter worth $374,000. Handelsbanken Fonder AB bought a new position in shares of Klaviyo during the 4th quarter worth approximately $689,000. Telemark Asset Management LLC acquired a new position in shares of Klaviyo in the fourth quarter valued at $4,124,000. Integrated Wealth Concepts LLC acquired a new position in Klaviyo in the 3rd quarter valued at about $5,113,000. Finally, Renaissance Capital LLC increased its stake in shares of Klaviyo by 56.4% during the fourth quarter. Renaissance Capital LLC now owns 122,646 shares of the company's stock worth $5,058,000 after purchasing an additional 44,245 shares during the period. Institutional investors and hedge funds own 45.43% of the company's stock.

Insider Activity

In other Klaviyo news, CFO Amanda Whalen sold 15,000 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $39.18, for a total transaction of $587,700.00. Following the completion of the sale, the chief financial officer now directly owns 391,820 shares in the company, valued at approximately $15,351,507.60. This trade represents a 3.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Summit Partners L. P sold 2,000,000 shares of Klaviyo stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $32.44, for a total value of $64,880,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,126,246 shares of company stock valued at $69,799,958. Insiders own 53.24% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on KVYO shares. Citigroup boosted their target price on shares of Klaviyo from $39.00 to $48.00 and gave the company a "neutral" rating in a research report on Tuesday, February 11th. Scotiabank boosted their price target on Klaviyo from $35.00 to $45.00 and gave the company a "sector perform" rating in a research note on Wednesday, January 29th. Robert W. Baird increased their price objective on shares of Klaviyo from $52.00 to $54.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Cantor Fitzgerald raised their target price on shares of Klaviyo from $47.00 to $54.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Finally, Canaccord Genuity Group upped their price target on shares of Klaviyo from $40.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, Klaviyo currently has a consensus rating of "Moderate Buy" and a consensus price target of $49.89.

Klaviyo Stock Down 5.9 %

Klaviyo stock traded down $1.92 during trading hours on Friday, hitting $30.95. The stock had a trading volume of 1,248,804 shares, compared to its average volume of 1,229,559. The business's 50 day simple moving average is $40.57 and its 200-day simple moving average is $38.88. Klaviyo, Inc. has a one year low of $21.26 and a one year high of $49.55. The stock has a market cap of $8.45 billion, a price-to-earnings ratio of -171.93 and a beta of 0.86.

Klaviyo (NYSE:KVYO - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.12). Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. The firm had revenue of $270.16 million during the quarter, compared to analyst estimates of $257.24 million. Research analysts anticipate that Klaviyo, Inc. will post 0.04 EPS 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.