Klarna Group plc (KLAR) – What Are Investment Firms Thinking About This Stock?

Klarna Group plc (NYSE:KLAR) has been given a consensus recommendation of “Hold” by the nineteen ratings firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $22.60.

A number of brokerages have recently issued reports on KLAR. Wells Fargo & Company lowered their target price on shares of Klarna Group from $26.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 19th. Wolfe Research cut shares of Klarna Group from an “outperform” rating to a “peer perform” rating in a report on Tuesday, August 25th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $18.00 price target (down from $22.00) on shares of Klarna Group in a research report on Wednesday, August 19th. TD Cowen decreased their price target on shares of Klarna Group from $18.00 to $16.00 and set a “hold” rating for the company in a research note on Tuesday, October 6th. Finally, Barclays lowered their price objective on shares of Klarna Group from $20.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 19th.

Insider Transactions 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 shares were acquired at an average cost of $14.37 per share, for a total transaction of $9,951,311.22. Following the completion of the purchase, the chief executive officer directly owned 25,344,322 shares in the company, valued at $364,197,907.14. The trade was a 2.81% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Trading of Klarna Group

Several hedge funds and other institutional investors have recently made changes to their positions in KLAR. BlackRock Inc. grew its stake in Klarna Group by 89.6% in the 2nd quarter. BlackRock Inc. now owns 5,698,353 shares of the company’s stock valued at $115,335,000 after acquiring an additional 2,693,374 shares during the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Klarna Group during the 4th quarter valued at about $72,323,000. Moore Capital Management LP acquired a new position in Klarna Group during the fourth quarter worth about $28,746,000. Renaissance Technologies LLC raised its position in Klarna Group by 173.9% during the first quarter. Renaissance Technologies LLC now owns 2,043,100 shares of the company’s stock worth $26,744,000 after acquiring an additional 1,297,200 shares during the last quarter. Finally, Pictet Asset Management Holding SA purchased a new stake in shares of Klarna Group in the first quarter valued at about $18,872,000.

Klarna Group Trading Up 2.5%

Shares of Klarna Group stock opened at $13.49 on Friday. The company has a fifty day simple moving average of $14.59 and a 200-day simple moving average of $15.99. Klarna Group has a 12-month low of $12.06 and a 12-month high of $40.05. The stock has a market cap of $5.09 billion and a price-to-earnings ratio of -36.47.

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

About Klarna Group

Klarna Group plc is a financial technology company that provides digital payment and shopping services to consumers and merchants. Its offerings include buy now, pay later options, installment plans, and other flexible payment methods designed to give consumers greater choice at checkout.

The company also operates a shopping platform that helps consumers discover products, compare prices, track orders, and manage purchases. For merchants, Klarna provides payment acceptance, checkout solutions, customer acquisition tools, and related services intended to support online and in-store commerce.

Klarna was founded in Stockholm, Sweden, in 2005 by Sebastian Siemiatkowski, Niklas Adalberth, and Victor Jacobsson.