Fmr LLC Purchases 81,861 Shares of Klaviyo, Inc. (NYSE:KVYO)

FMR LLC increased its stake in shares of Klaviyo, Inc. (NYSE:KVYO - Free Report) by 428.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 100,982 shares of the company's stock after buying an additional 81,861 shares during the period. FMR LLC's holdings in Klaviyo were worth $3,573,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of KVYO. Bank of New York Mellon Corp increased its stake in shares of Klaviyo by 677.7% during the second quarter. Bank of New York Mellon Corp now owns 2,762,128 shares of the company's stock worth $68,749,000 after purchasing an additional 2,406,973 shares during the period. SpiderRock Advisors LLC grew its holdings in Klaviyo by 1,571.7% in the 3rd quarter. SpiderRock Advisors LLC now owns 501,500 shares of the company's stock valued at $17,743,000 after buying an additional 471,500 shares in the last quarter. Mayflower Financial Advisors LLC increased its position in Klaviyo by 181.4% during the 3rd quarter. Mayflower Financial Advisors LLC now owns 684,948 shares of the company's stock worth $24,233,000 after buying an additional 441,500 shares during the period. Millennium Management LLC lifted its holdings in shares of Klaviyo by 53.6% during the second quarter. Millennium Management LLC now owns 1,120,485 shares of the company's stock worth $27,889,000 after buying an additional 390,849 shares in the last quarter. Finally, Claro Advisors LLC boosted its position in shares of Klaviyo by 38.7% in the second quarter. Claro Advisors LLC now owns 1,280,035 shares of the company's stock valued at $31,860,000 after acquiring an additional 357,355 shares during the period. Institutional investors own 45.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Cantor Fitzgerald raised their price target on shares of Klaviyo from $33.00 to $47.00 and gave the stock an "overweight" rating in a research report on Thursday, November 7th. Needham & Company LLC raised their target price on shares of Klaviyo from $40.00 to $46.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Piper Sandler boosted their price target on Klaviyo from $34.00 to $45.00 and gave the company an "overweight" rating in a research note on Friday, October 18th. Barclays increased their price target on Klaviyo from $32.00 to $41.00 and gave the stock an "overweight" rating in a research report on Friday, October 11th. Finally, Robert W. Baird lifted their price objective on Klaviyo from $42.00 to $45.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Klaviyo has an average rating of "Moderate Buy" and a consensus price target of $39.69.

Insider Transactions at Klaviyo

In other Klaviyo news, President Stephen Eric Rowland sold 18,114 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $31.24, for a total transaction of $565,881.36. Following the completion of the sale, the president now owns 192,488 shares of the company's stock, valued at approximately $6,013,325.12. This represents a 8.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Amanda Whalen sold 1,050 shares of the business's stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $40.07, for a total transaction of $42,073.50. Following the completion of the transaction, the chief financial officer now owns 395,616 shares in the company, valued at $15,852,333.12. This trade represents a 0.26 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 275,764 shares of company stock worth $9,383,087. Insiders own 53.24% of the company's stock.

Klaviyo Stock Down 0.5 %

Shares of KVYO stock traded down $0.18 on Friday, reaching $39.06. The company had a trading volume of 910,807 shares, compared to its average volume of 1,180,864. The stock has a market capitalization of $10.53 billion, a PE ratio of -217.00 and a beta of 0.97. The business's 50-day moving average is $37.41 and its 200 day moving average is $31.10. Klaviyo, Inc. has a one year low of $21.26 and a one year high of $41.00.

Klaviyo (NYSE:KVYO - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share for the quarter, topping analysts' consensus estimates of $0.11 by $0.04. Klaviyo had a negative net margin of 5.23% and a positive return on equity of 0.86%. The firm had revenue of $235.09 million for the quarter, compared to analysts' expectations of $226.33 million. During the same quarter in the previous year, the firm posted ($1.24) earnings per share. The company's revenue was up 33.7% on a year-over-year basis. On average, sell-side analysts forecast that Klaviyo, Inc. will post 0.03 earnings per share for the current fiscal year.

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.