Klarna Group (NYSE:KLAR) Downgraded by Wall Street Zen to Sell

Klarna Group (NYSE:KLAR) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday, Wall Street Zen reports.

A number of other research firms have also commented on KLAR. Barclays dropped their price target on shares of Klarna Group from $20.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 19th. Loop Capital began coverage on Klarna Group in a research report on Wednesday, September 9th. They set a “hold” rating and a $18.00 target price for the company. Morgan Stanley lowered their target price on Klarna Group from $21.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 19th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Klarna Group in a research note on Thursday, August 13th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $18.00 target price (down from $22.00) on shares of Klarna Group in a report on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $22.60.

Klarna Group Stock Performance

NYSE:KLAR opened at $12.85 on Friday. The company’s 50-day moving average is $13.78 and its two-hundred day moving average is $15.97. Klarna Group has a 12-month low of $12.06 and a 12-month high of $40.05.

Klarna Group (NYSE:KLAR) last announced 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. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $992.56 million. Klarna Group had a negative return on equity of 5.39% and a negative net margin of 3.54%. Klarna Group’s quarterly revenue was up 26.6% on a year-over-year basis. Analysts forecast that Klarna Group will post -0.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Klarna Group news, CEO Sebastian Siemiatkowski bought 692,506 shares of the business’s stock in a transaction dated Wednesday, August 26th. The shares were purchased at an average price of $14.37 per share, with a total value of $9,951,311.22. Following the completion of the purchase, 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 legal filing with the SEC, which is available at the SEC website.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Wedbush Securities Inc. raised its stake in shares of Klarna Group by 23.5% during the 3rd quarter. Wedbush Securities Inc. now owns 15,770 shares of the company’s stock worth $195,000 after acquiring an additional 3,000 shares in the last quarter. Farther Finance Advisors LLC raised 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 acquiring an additional 2,067 shares during the period. Byrne Asset Management LLC acquired a new stake in Klarna Group during the 3rd quarter worth $105,000. State Street Corp grew its position in shares of Klarna Group by 1,428.3% in the second quarter. State Street Corp now owns 305,742 shares of the company’s stock valued at $6,188,000 after purchasing an additional 285,736 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in shares of Klarna Group during the 2nd quarter valued at approximately $342,000.

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.