1,700,690 Shares in Klaviyo, Inc. $KVYO Bought by Cooper Creek Partners Management LLC

Cooper Creek Partners Management LLC acquired a new position in shares of Klaviyo, Inc. (NYSE:KVYO) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 1,700,690 shares of the company’s stock, valued at approximately $57,109,000. Klaviyo makes up 1.8% of Cooper Creek Partners Management LLC’s holdings, making the stock its 18th biggest position.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in shares of Klaviyo during the 2nd quarter worth about $52,629,000. American Century Companies Inc. lifted its stake in Klaviyo by 123.4% in the second quarter. American Century Companies Inc. now owns 2,685,480 shares of the company’s stock worth $90,178,000 after purchasing an additional 1,483,427 shares during the last quarter. Fiera Capital Corp bought a new stake in Klaviyo in the second quarter worth about $42,645,000. JPMorgan Chase & Co. boosted its position in shares of Klaviyo by 105.1% during the second quarter. JPMorgan Chase & Co. now owns 1,692,854 shares of the company’s stock valued at $56,846,000 after buying an additional 867,666 shares during the period. Finally, Lord Abbett & CO. LLC grew its stake in shares of Klaviyo by 105.6% during the first quarter. Lord Abbett & CO. LLC now owns 1,538,220 shares of the company’s stock valued at $46,546,000 after buying an additional 790,146 shares during the last quarter. Hedge funds and other institutional investors own 45.43% of the company’s stock.

Klaviyo Price Performance

KVYO stock opened at $29.50 on Friday. Klaviyo, Inc. has a 1-year low of $23.44 and a 1-year high of $49.55. The business has a 50-day moving average price of $27.00 and a 200 day moving average price of $30.77. The company has a market capitalization of $8.91 billion, a P/E ratio of -122.91 and a beta of 1.18.

Klaviyo (NYSE:KVYO) last issued its earnings results on Thursday, September 25th. The company reported $0.16 earnings per share (EPS) for the quarter. The company had revenue of $293.12 million for the quarter. Klaviyo had a negative net margin of 5.70% and a negative return on equity of 1.00%. On average, analysts anticipate that Klaviyo, Inc. will post 0.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on KVYO. Needham & Company LLC reissued a “buy” rating and set a $45.00 price target on shares of Klaviyo in a research note on Friday, September 26th. Weiss Ratings assumed coverage on Klaviyo in a research report on Saturday, November 1st. They set a “sell (d-)” rating for the company. Cantor Fitzgerald lowered their target price on shares of Klaviyo from $48.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. The Goldman Sachs Group reduced their price target on shares of Klaviyo from $48.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Finally, Zacks Research raised shares of Klaviyo from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.90.

Insider Buying and Selling

In other Klaviyo news, major shareholder Summit Partners L. P sold 4,000,000 shares of the company’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $31.87, for a total transaction of $127,480,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew Bialecki sold 226,382 shares of Klaviyo stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $32.35, for a total value of $7,323,457.70. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 5,745,896 shares of company stock worth $179,279,807. Insiders own 49.92% of the company’s stock.

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.