Klarna Group (NYSE:KLAR) Shares Down 4.6% – Here’s What Happened

Shares of Klarna Group plc (NYSE:KLAR) traded down 4.6% on Wednesday . The stock traded as low as $12.96 and last traded at $12.9280. 4,258,341 shares were traded during trading, a decline of 30% from the average session volume of 6,081,570 shares. The stock had previously closed at $13.55.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. UBS Group dropped their price target on shares of Klarna Group from $46.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, February 20th. Morgan Stanley lowered their price objective on shares of Klarna Group from $39.00 to $23.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 18th. Weiss Ratings reissued a “sell (e+)” rating on shares of Klarna Group in a research report on Monday, December 29th. Wall Street Zen upgraded Klarna Group from a “sell” rating to a “hold” rating in a research note on Monday. Finally, Bank of America initiated coverage on Klarna Group in a research report on Thursday, March 5th. They set a “buy” rating and a $21.00 price target for the company. Eleven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.33.

Klarna Group Trading Down 4.6%

The company has a 50-day moving average price of $18.98. The firm has a market capitalization of $4.88 billion and a price-to-earnings ratio of -16.79.

Hedge Funds Weigh In On Klarna Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KLAR. Robeco Institutional Asset Management B.V. acquired a new position in shares of Klarna Group in the third quarter worth $2,199,000. SG Americas Securities LLC acquired a new stake in shares of Klarna Group in the third quarter valued at $868,000. Walmart Inc. acquired a new stake in shares of Klarna Group in the third quarter valued at $87,960,000. Sumitomo Mitsui Trust Group Inc. purchased a new position in Klarna Group in the third quarter valued at $19,406,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Klarna Group during the 3rd quarter worth $295,000.

Klarna Group Company Profile

Klarna Group is a global payments provider specializing in “buy now, pay later” (BNPL) solutions for online and in-store shoppers. The company partners with merchants to offer flexible payment options, including interest-free installments and deferred payments, aiming to enhance conversion rates and customer loyalty. Klarna’s platform integrates risk assessment, fraud prevention, and a one-click checkout experience to streamline transactions for both retailers and consumers.

Through its digital wallet and mobile app, Klarna enables users to manage purchases, track spending and access exclusive shopping offers from partner merchants.