Klarna Group plc $KLAR Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA decreased its holdings in Klarna Group plc (NYSE:KLAR) by 10.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 4,438,171 shares of the company’s stock after selling 524,340 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Klarna Group were worth $54,989,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of KLAR. Integrated Wealth Concepts LLC purchased a new stake in shares of Klarna Group during the 2nd quarter worth $35,000. Asset Management One Co. Ltd. grew its stake 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 worth $40,000 after purchasing an additional 922 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Klarna Group by 154.8% during the 3rd 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. Atwood & Palmer Inc. purchased a new position in shares of Klarna Group in the 2nd quarter valued at about $86,000. Finally, Byrne Asset Management LLC purchased a new position in shares of Klarna Group in the 3rd quarter valued at about $105,000.

Analyst Ratings Changes

KLAR has been the subject of several recent analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Klarna Group in a research note on Thursday, August 13th. Keefe, Bruyette & Woods lowered their target price on shares of Klarna Group from $26.00 to $21.00 and set an “outperform” rating on the stock in a research report on Friday, August 21st. Zacks Research cut shares of Klarna Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 5th. Wall Street Zen upgraded shares of Klarna Group from a “sell” rating to a “hold” rating in a research report on Sunday, November 1st. Finally, JPMorgan Chase & Co. downgraded shares of Klarna Group from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $22.00 to $18.00 in a research report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $22.44.

Klarna Group Stock Performance

Shares of NYSE:KLAR opened at $13.44 on Tuesday. The business’s fifty day moving average price is $13.45 and its two-hundred day moving average price is $16.05. The stock has a market cap of $5.07 billion, a PE ratio of -36.33 and a beta of 1.62. Klarna Group plc has a one year low of $12.06 and a one year high of $38.19.

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 business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $992.56 million. Klarna Group had a negative net margin of 3.54% and a negative return on equity of 5.39%. The firm’s revenue for the quarter was up 26.6% on a year-over-year basis. As a group, equities research analysts predict that Klarna Group plc will post -0.01 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Sebastian Siemiatkowski bought 692,506 shares of the company’s stock in a transaction that occurred on 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 acquisition, 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 position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Klarna Group Company Profile

Klarna Group is a financial technology company that provides digital payment and shopping services to consumers and merchants. Its offerings include checkout payments, installment plans, and options to pay immediately or at a later date, subject to availability and terms.

The company also operates a shopping app where users can discover products, compare prices, track orders, and manage purchases. For merchants, Klarna provides payment processing and related tools designed to support online and in-store commerce.

Founded in Stockholm in 2005, Klarna serves consumers and businesses across multiple markets in Europe, North America, and other regions.