Honeycomb Asset Management LP Takes $38.16 Million Position in Klarna Group plc $KLAR

Honeycomb Asset Management LP acquired a new position in Klarna Group plc (NYSE:KLAR) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,041,228 shares of the company’s stock, valued at approximately $38,161,000. Klarna Group accounts for approximately 100.0% of Honeycomb Asset Management LP’s investment portfolio, making the stock its largest position. Honeycomb Asset Management LP owned 0.15% of Klarna Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Dragoneer Investment Group LLC acquired a new stake in Klarna Group in the 3rd quarter valued at approximately $303,595,000. Coatue Management LLC acquired a new position in shares of Klarna Group during the third quarter worth approximately $12,095,000. Centiva Capital LP acquired a new position in shares of Klarna Group during the third quarter worth approximately $4,764,000. Azora Capital LP bought a new stake in shares of Klarna Group in the third quarter valued at approximately $40,344,000. Finally, Bank of America Corp DE acquired a new stake in shares of Klarna Group in the third quarter worth $1,699,000.

Klarna Group Stock Performance

Shares of KLAR stock opened at $15.87 on Monday. Klarna Group plc has a one year low of $12.50 and a one year high of $57.20. The business has a fifty day moving average price of $21.33. The company has a market capitalization of $11.39 billion and a PE ratio of -20.61.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Bank of America started coverage on shares of Klarna Group in a research note on Thursday, March 5th. They set a “buy” rating and a $21.00 target price for the company. Keefe, Bruyette & Woods dropped their price objective on shares of Klarna Group from $45.00 to $26.00 and set an “outperform” rating on the stock in a report on Friday, February 20th. JPMorgan Chase & Co. cut their price objective on shares of Klarna Group from $40.00 to $20.00 and set an “overweight” rating for the company in a research report on Friday, February 20th. Morgan Stanley reduced their target price on shares of Klarna Group from $39.00 to $23.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 18th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Klarna Group in a research note on Monday, December 29th. Eleven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.33.

Klarna Group 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.