Klarna Group (NYSE:KLAR) Stock Bumped Up to “Hold” by Wall Street Zen

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

A number of other research firms have also recently issued reports on KLAR. JPMorgan Chase & Co. cut shares of Klarna Group from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $22.00 to $18.00 in a report on Wednesday, August 19th. UBS Group downgraded shares of Klarna Group from a “buy” rating to a “neutral” rating and reduced their price target for the company from $23.00 to $16.00 in a research report on Monday, August 24th. Weiss Ratings restated a “sell (e+)” rating on shares of Klarna Group in a research report on Thursday, August 13th. TD Cowen dropped their target price on shares of Klarna Group from $18.00 to $16.00 and set a “hold” rating for the company in a research report on Tuesday, October 6th. Finally, Wells Fargo & Company decreased their price target on Klarna Group from $26.00 to $21.00 and set an “overweight” rating for the company in a research note on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $22.44.

Klarna Group Price Performance

Shares of KLAR stock opened at $13.33 on Friday. The business’s 50 day simple moving average is $13.53 and its 200 day simple moving average is $16.51. Klarna Group has a one year low of $12.06 and a one year high of $38.19. The stock has a market capitalization of $5.03 billion, a PE ratio of -36.03 and a beta of 1.62.

Klarna Group (NYSE:KLAR) last posted its earnings results on Friday, August 14th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.07. Klarna Group had a negative net margin of 3.54% and a negative return on equity of 5.39%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $992.56 million. The company’s revenue was up 26.6% compared to the same quarter last year. As a group, research analysts expect that Klarna Group will post -0.01 earnings per share for the current year.

Insider Buying and Selling at Klarna Group

In related news, CEO Sebastian Siemiatkowski acquired 692,506 shares of the firm’s stock in a transaction dated 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 acquisition, the chief executive officer directly 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Trading of Klarna Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Asset Management One Co. Ltd. lifted its position in shares of Klarna Group by 39.9% during the 3rd quarter. Asset Management One Co. Ltd. now owns 3,235 shares of the company’s stock valued at $40,000 after acquiring an additional 922 shares during the period. D.A. Davidson & CO. raised its position in Klarna Group by 4.6% during 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 in the last quarter. Integrated Wealth Concepts LLC purchased a new position in Klarna Group in the 2nd quarter worth $35,000. Farther Finance Advisors LLC boosted its holdings in shares of 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 purchasing an additional 2,067 shares during the period. Finally, Wedbush Securities Inc. boosted its position in Klarna Group by 23.5% during the 3rd quarter. Wedbush Securities Inc. now owns 15,770 shares of the company’s stock valued at $195,000 after acquiring an additional 3,000 shares in the last quarter.

About Klarna Group

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.