Klarna Group (NYSE:KLAR) Stock Moved Down to Sell by Wall Street Zen

Wall Street Zen downgraded shares of Klarna Group (NYSE:KLAR) from a hold rating to a sell rating in a research report released on Sunday morning,Wall Street Zen reports.

A number of other equities research analysts also recently issued reports on KLAR. Keefe, Bruyette & Woods decreased their target price on shares of Klarna Group from $26.00 to $21.00 and set an “outperform” rating on the stock in a report on Friday, August 21st. Zacks Research downgraded shares of Klarna Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 5th. Loop Capital assumed coverage on shares of Klarna Group in a research report on Wednesday, September 9th. They set a “hold” rating and a $18.00 price target on the stock. TD Cowen lowered their price objective on shares of Klarna Group from $19.00 to $18.00 and set a “hold” rating for the company in a research report on Wednesday, August 19th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Klarna Group from $18.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $27.79.

Klarna Group Stock Performance

NYSE:KLAR opened at $12.77 on Friday. The company has a market cap of $4.82 billion and a price-to-earnings ratio of -34.50. Klarna Group has a fifty-two week low of $12.06 and a fifty-two week high of $44.75. The stock has a fifty day moving average price of $16.24 and a 200-day moving average price of $16.08.

Klarna Group (NYSE:KLAR) last issued its quarterly earnings results on Friday, August 14th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.07. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $992.56 million. Klarna Group had a negative return on equity of 5.39% and a negative net margin of 3.54%.The company’s revenue was up 26.6% compared to the same quarter last year. Research analysts predict that Klarna Group will post -0.01 EPS for the current fiscal year.

Insider Activity at Klarna Group

In other news, CEO Sebastian Siemiatkowski purchased 692,506 shares of the company’s stock in a transaction dated Wednesday, August 26th. The stock was bought at an average cost of $14.37 per share, for a total transaction of $9,951,311.22. Following the purchase, the chief executive officer owned 25,344,322 shares of the company’s stock, valued at approximately $364,197,907.14. The trade was a 2.81% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Hedge Funds Weigh In On Klarna Group

A number of institutional investors and hedge funds have recently bought and sold shares of KLAR. Caitong International Asset Management Co. Ltd boosted its stake in shares of Klarna Group by 19.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,053 shares of the company’s stock valued at $117,000 after purchasing an additional 665 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Klarna Group during the second quarter worth about $35,000. Atwood & Palmer Inc. acquired a new position in shares of Klarna Group in the second quarter valued at approximately $86,000. Banque Cantonale Vaudoise raised its holdings in Klarna Group by 176.6% in the 1st quarter. Banque Cantonale Vaudoise now owns 7,197 shares of the company’s stock valued at $94,000 after buying an additional 4,595 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in Klarna Group by 72.1% during the 1st quarter. Royal Bank of Canada now owns 11,007 shares of the company’s stock worth $145,000 after buying an additional 4,612 shares during the period.

About Klarna Group

Klarna Group plc is a financial technology company that provides digital payments and shopping services for consumers and merchants. Its offerings include flexible payment options such as pay now, pay later and installment plans, along with digital checkout tools designed to help merchants accept and manage online and in-store transactions.

The company also operates a consumer shopping platform and mobile application that allow users to search for products, compare offerings, make purchases and manage payments.