First Trust Advisors LP Acquires 197,283 Shares of Klaviyo, Inc. (NYSE:KVYO)

First Trust Advisors LP increased its stake in Klaviyo, Inc. (NYSE:KVYO - Free Report) by 26.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 945,663 shares of the company's stock after purchasing an additional 197,283 shares during the quarter. First Trust Advisors LP owned approximately 0.35% of Klaviyo worth $38,999,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. CIBC Private Wealth Group LLC boosted its position in Klaviyo by 169.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,752 shares of the company's stock worth $72,000 after acquiring an additional 1,102 shares during the period. SBI Securities Co. Ltd. purchased a new position in Klaviyo during the fourth quarter valued at approximately $196,000. US Bancorp DE acquired a new position in Klaviyo in the 4th quarter valued at approximately $199,000. Keybank National Association OH purchased a new stake in Klaviyo in the 4th quarter worth approximately $203,000. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of Klaviyo by 8.0% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,836 shares of the company's stock valued at $220,000 after buying an additional 359 shares during the period. Institutional investors and hedge funds own 45.43% of the company's stock.

Analysts Set New Price Targets

KVYO has been the subject of several recent research reports. Wells Fargo & Company cut their price objective on Klaviyo from $45.00 to $26.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Cantor Fitzgerald lifted their price target on Klaviyo from $47.00 to $54.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Citigroup increased their price objective on Klaviyo from $39.00 to $48.00 and gave the stock a "neutral" rating in a report on Tuesday, February 11th. Barclays reduced their target price on shares of Klaviyo from $51.00 to $35.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Finally, Needham & Company LLC increased their price target on shares of Klaviyo from $46.00 to $56.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Klaviyo currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.47.

Klaviyo Stock Up 2.8 %

KVYO traded up $0.83 during trading on Monday, reaching $30.41. 1,846,165 shares of the company's stock were exchanged, compared to its average volume of 1,336,559. The company has a market capitalization of $8.31 billion, a P/E ratio of -168.94 and a beta of 1.39. The business has a 50 day moving average price of $32.38 and a 200 day moving average price of $37.76. Klaviyo, Inc. has a fifty-two week low of $21.26 and a fifty-two week high of $49.55.

Klaviyo (NYSE:KVYO - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported ($0.06) earnings per share 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 business had revenue of $270.16 million for the quarter, compared to analyst estimates of $257.24 million. As a group, research analysts forecast that Klaviyo, Inc. will post 0.04 EPS for the current year.

Insider Buying and Selling at Klaviyo

In other news, major shareholder Summit Partners L. P sold 2,000,000 shares of the company's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $32.44, for a total value of $64,880,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Stephen Eric Rowland sold 36,710 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $35.08, for a total transaction of $1,287,786.80. Following the sale, the president now owns 246,254 shares of the company's stock, valued at $8,638,590.32. This trade represents a 12.97 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,088,770 shares of company stock valued at $67,947,356. 53.24% of the stock is currently owned by corporate insiders.

Klaviyo Profile

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.