Norges Bank Takes Position in Klarna Group plc $KLAR

Norges Bank purchased a new stake in shares of Klarna Group plc (NYSE:KLAR) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 1,777,365 shares of the company’s stock, valued at approximately $51,384,000.

Several other institutional investors have also recently made changes to their positions in the company. SC US Ttgp LTD. purchased a new stake in shares of Klarna Group during the 3rd quarter valued at approximately $2,016,821,000. Wellington Management Group LLP purchased a new stake in shares of Klarna Group during the 3rd quarter valued at approximately $348,834,000. Scge Management L.P. purchased a new stake in shares of Klarna Group during the 3rd quarter valued at approximately $193,018,000. HarbourVest Partners LLC purchased a new stake in shares of Klarna Group during the 3rd quarter valued at approximately $184,105,000. Finally, Technology Crossover Management X Ltd. purchased a new stake in shares of Klarna Group during the 3rd quarter valued at approximately $140,910,000.

Klarna Group Stock Up 0.2%

NYSE:KLAR opened at $16.39 on Monday. The stock’s fifty day moving average is $14.81 and its two-hundred day moving average is $20.76. Klarna Group plc has a 52 week low of $12.06 and a 52 week high of $57.20. The stock has a market capitalization of $6.19 billion and a price-to-earnings ratio of -31.52.

Klarna Group (NYSE:KLAR) last released its quarterly earnings results on Wednesday, May 20th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.12. Klarna Group had a negative return on equity of 7.62% and a negative net margin of 5.21%.The business’s revenue for the quarter was up 42.7% on a year-over-year basis. On average, sell-side analysts expect that Klarna Group plc will post 0.04 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on KLAR. UBS Group reduced their price target on shares of Klarna Group from $46.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. BMO Capital Markets upped their price target on Klarna Group from $16.00 to $17.00 and gave the stock a “market perform” rating in a research note on Friday, May 15th. Weiss Ratings cut Klarna Group from a “sell (d)” rating to a “sell (e+)” rating in a research note on Monday, May 18th. Wall Street Zen upgraded Klarna Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Bank of America upped their price target on Klarna Group from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. Eleven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.24.

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.