SummitTX Capital L.P. Acquires New Holdings in Klarna Group plc $KLAR

SummitTX Capital L.P. bought a new stake in shares of Klarna Group plc (NYSE:KLAR) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 60,138 shares of the company’s stock, valued at approximately $787,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. US Bancorp DE purchased a new stake in shares of Klarna Group in the third quarter valued at about $30,000. First Trust Advisors LP purchased a new position in shares of Klarna Group during the 3rd quarter worth approximately $526,000. Russell Investments Group Ltd. acquired a new position in shares of Klarna Group during the 3rd quarter worth approximately $19,272,000. Legal & General Group Plc acquired a new position in shares of Klarna Group during the 3rd quarter worth approximately $148,000. Finally, Franklin Resources Inc. purchased a new stake in Klarna Group in the 3rd quarter valued at approximately $10,995,000.

Klarna Group Stock Performance

KLAR stock opened at $19.03 on Friday. The company has a 50 day moving average price of $18.31 and a two-hundred day moving average price of $17.53. The stock has a market capitalization of $7.18 billion and a P/E ratio of -36.60. Klarna Group plc has a one year low of $12.06 and a one year high of $57.20.

Klarna Group (NYSE:KLAR) last issued its quarterly earnings results on Wednesday, May 20th. The company reported ($0.01) earnings per share 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 company’s revenue was up 42.7% compared to the same quarter last year. Research analysts forecast that Klarna Group plc will post 0.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on KLAR. TD Cowen increased their target price on Klarna Group from $17.00 to $19.00 and gave the company a “hold” rating in a report on Tuesday, July 7th. Zacks Research upgraded Klarna Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. Keefe, Bruyette & Woods increased their price objective on Klarna Group from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. UBS Group lifted their price objective on Klarna Group from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Finally, Freedom Capital raised shares of Klarna Group to a “strong-buy” rating in a research note on Wednesday, June 24th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Klarna Group has an average rating of “Moderate Buy” and an average target price of $32.11.

Klarna Group Company 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.