Lord Abbett & CO. LLC Invests $30.85 Million in Klaviyo, Inc. (NYSE:KVYO)

Lord Abbett & CO. LLC acquired a new stake in shares of Klaviyo, Inc. (NYSE:KVYO - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 748,074 shares of the company's stock, valued at approximately $30,851,000. Lord Abbett & CO. LLC owned about 0.28% of Klaviyo as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KVYO. Vanguard Group Inc. raised its position in shares of Klaviyo by 9.1% in the 4th quarter. Vanguard Group Inc. now owns 7,721,855 shares of the company's stock worth $318,449,000 after acquiring an additional 646,628 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Klaviyo by 5.0% in the fourth quarter. Bank of New York Mellon Corp now owns 2,926,187 shares of the company's stock valued at $120,676,000 after buying an additional 140,127 shares in the last quarter. Clearbridge Investments LLC lifted its stake in Klaviyo by 0.9% in the 4th quarter. Clearbridge Investments LLC now owns 2,168,336 shares of the company's stock valued at $89,422,000 after buying an additional 19,567 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Klaviyo by 48.6% during the fourth quarter. Franklin Resources Inc. now owns 1,943,523 shares of the company's stock worth $80,151,000 after buying an additional 635,962 shares in the last quarter. Finally, Voya Investment Management LLC grew its position in shares of Klaviyo by 47.1% in the fourth quarter. Voya Investment Management LLC now owns 1,851,679 shares of the company's stock valued at $76,363,000 after purchasing an additional 592,884 shares in the last quarter. Hedge funds and other institutional investors own 45.43% of the company's stock.

Klaviyo Stock Up 3.5 %

NYSE:KVYO traded up $1.10 during trading hours on Friday, hitting $32.63. 810,915 shares of the stock were exchanged, compared to its average volume of 1,351,538. Klaviyo, Inc. has a twelve month low of $21.26 and a twelve month high of $49.55. The company has a market capitalization of $8.91 billion, a P/E ratio of -180.94 and a beta of 1.39. The company's 50 day moving average is $31.34 and its two-hundred day moving average is $37.58.

Klaviyo (NYSE:KVYO - Get Free Report) last announced its quarterly earnings results 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). The firm had revenue of $270.16 million during the quarter, compared to analyst estimates of $257.24 million. Klaviyo had a negative net margin of 4.92% and a positive return on equity of 0.89%. On average, equities research analysts expect that Klaviyo, Inc. will post 0.04 EPS for the current year.

Insider Buying and Selling

In other news, President Stephen Eric Rowland sold 7,060 shares of the company's stock in a transaction dated 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 of the company's stock, valued at approximately $11,925,284.60. This represents a 1.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Jeff Fagnan purchased 3,900 shares of the stock in a transaction on Wednesday, April 9th. The shares were acquired at an average cost of $25.77 per share, for a total transaction of $100,503.00. Following the transaction, the insider now owns 3,900 shares of the company's stock, valued at approximately $100,503. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 2,088,770 shares of company stock worth $67,947,356 over the last ninety days. Company insiders own 53.24% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Morgan Stanley decreased their price objective on shares of Klaviyo from $50.00 to $34.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Canaccord Genuity Group increased their price target on shares of Klaviyo from $40.00 to $50.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Barclays dropped their price target on shares of Klaviyo from $51.00 to $35.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Mizuho lowered their target price on Klaviyo from $52.00 to $40.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Finally, The Goldman Sachs Group boosted their target price on shares of Klaviyo from $45.00 to $51.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Klaviyo currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.47.

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.