Ameriprise Financial Inc. Has $40.51 Million Stake in Klaviyo, Inc. (NYSE:KVYO)

Ameriprise Financial Inc. boosted its holdings in Klaviyo, Inc. (NYSE:KVYO - Free Report) by 229.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 982,134 shares of the company's stock after acquiring an additional 684,026 shares during the quarter. Ameriprise Financial Inc. owned 0.36% of Klaviyo worth $40,507,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd bought a new position in Klaviyo during the 4th quarter valued at about $374,000. Handelsbanken Fonder AB acquired a new position in shares of Klaviyo in the 4th quarter worth approximately $689,000. Telemark Asset Management LLC bought a new stake in Klaviyo during the 4th quarter worth approximately $4,124,000. Renaissance Capital LLC grew its position in Klaviyo by 56.4% during the 4th quarter. Renaissance Capital LLC now owns 122,646 shares of the company's stock worth $5,058,000 after acquiring an additional 44,245 shares during the last quarter. Finally, WCM Investment Management LLC acquired a new stake in Klaviyo during the 4th quarter valued at $12,781,000. Institutional investors own 45.43% of the company's stock.

Analyst Ratings Changes

KVYO has been the subject of several research reports. Mizuho lowered their price objective on shares of Klaviyo from $52.00 to $40.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Cantor Fitzgerald upped their price objective on Klaviyo from $47.00 to $54.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. Citigroup lifted their target price on Klaviyo from $39.00 to $48.00 and gave the company a "neutral" rating in a research note on Tuesday, February 11th. Wells Fargo & Company upped their price target on Klaviyo from $26.00 to $32.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Finally, William Blair reiterated an "outperform" rating on shares of Klaviyo in a research report on Thursday, February 20th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $43.11.

Insiders Place Their Bets

In related news, major shareholder Jeff Fagnan bought 3,900 shares of the firm's stock in a transaction on Wednesday, April 9th. The shares were purchased at an average price of $25.77 per share, with a total value of $100,503.00. Following the completion of the purchase, the insider now owns 3,900 shares in the company, valued at $100,503. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, President Stephen Eric Rowland sold 7,060 shares of the firm's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $26.66, for a total value of $188,219.60. Following the sale, the president now directly owns 447,310 shares in the company, valued at approximately $11,925,284.60. This trade represents a 1.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,073,770 shares of company stock worth $67,259,606 over the last ninety days. Corporate insiders own 49.92% of the company's stock.

Klaviyo Price Performance

Klaviyo stock traded down $3.20 during midday trading on Wednesday, hitting $34.30. The company's stock had a trading volume of 4,859,759 shares, compared to its average volume of 1,427,748. The company has a market cap of $9.37 billion, a price-to-earnings ratio of -190.56 and a beta of 1.35. Klaviyo, Inc. has a 1-year low of $21.26 and a 1-year high of $49.55. The company has a 50-day moving average price of $30.45 and a two-hundred day moving average price of $37.34.

Klaviyo (NYSE:KVYO - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. Klaviyo had a positive return on equity of 0.89% and a negative net margin of 4.92%. The firm had revenue of $279.83 million during the quarter, compared to analysts' expectations of $267.79 million. During the same period in the previous year, the firm earned $0.13 EPS. The company's quarterly revenue was up 33.3% compared to the same quarter last year. Sell-side analysts forecast that Klaviyo, Inc. will post 0.04 EPS for the current 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.