Klarna Group plc (NYSE:KLAR – Get Free Report) passed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $13.54 and traded as high as $13.77. Klarna Group shares last traded at $13.6840, with a volume of 9,004,642 shares trading hands.
Analysts Set New Price Targets
Several equities analysts have issued reports on the company. Monness Crespi & Hardt started coverage on Klarna Group in a report on Monday, October 26th. They set a “buy” rating and a $20.00 price objective on the stock. Wells Fargo & Company reduced their target price on Klarna Group from $26.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, August 19th. UBS Group cut Klarna Group from a “buy” rating to a “neutral” rating and decreased their target price for the company from $23.00 to $16.00 in a research report on Monday, August 24th. JPMorgan Chase & Co. downgraded Klarna Group from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $22.00 to $18.00 in a research note on Wednesday, August 19th. Finally, Zacks Research lowered Klarna Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $22.44.
View Our Latest Report on KLAR
Klarna Group Stock Down 2.3%
The firm has a market capitalization of $5.03 billion and a PE ratio of -36.03. The business’s fifty day moving average price is $13.53 and its 200 day moving average price is $16.51.
Klarna Group (NYSE:KLAR – Get Free Report) last issued its quarterly earnings results on Friday, August 14th. The company reported $0.01 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $992.56 million. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. On average, analysts anticipate that Klarna Group plc will post -0.01 earnings per share for the current year.
Insider Transactions at Klarna Group
In other news, CEO Sebastian Siemiatkowski acquired 692,506 shares of the business’s stock in a transaction on Wednesday, August 26th. The stock was bought at an average price of $14.37 per share, for a total transaction of $9,951,311.22. Following the transaction, the chief executive officer owned 25,344,322 shares in the company, valued at $364,197,907.14. This represents a 2.81% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in KLAR. Asset Management One Co. Ltd. increased its holdings in shares of Klarna Group by 39.9% in the 3rd quarter. Asset Management One Co. Ltd. now owns 3,235 shares of the company’s stock valued at $40,000 after purchasing an additional 922 shares in the last quarter. D.A. Davidson & CO. lifted its stake in shares of Klarna Group by 4.6% in the third quarter. D.A. Davidson & CO. now owns 24,850 shares of the company’s stock valued at $308,000 after purchasing an additional 1,100 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in Klarna Group during the second quarter worth about $35,000. Farther Finance Advisors LLC grew its position in Klarna Group by 154.8% during the third quarter. Farther Finance Advisors LLC now owns 3,402 shares of the company’s stock worth $42,000 after buying an additional 2,067 shares during the period. Finally, Wedbush Securities Inc. grew its position in Klarna Group by 23.5% during the third quarter. Wedbush Securities Inc. now owns 15,770 shares of the company’s stock worth $195,000 after buying an additional 3,000 shares during the period.
Klarna Group Company Profile
Klarna Group is a global financial technology company that provides digital payment and consumer-finance services. Its platform enables shoppers to pay immediately, later, or over time, while giving merchants tools to process payments, manage checkout experiences, and engage customers.
The company’s products include buy now, pay later options, installment plans, direct payments, digital checkout services, and the Klarna Card. Klarna also operates a consumer shopping platform that allows users to discover products, compare offers, track purchases, and manage payments.
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