Klarna Group (NYSE:KLAR) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Klarna Group (NYSE:KLAR) from a hold rating to a sell rating in a research note released on Sunday morning,Wall Street Zen reports.

A number of other equities analysts have also recently commented on the company. Loop Capital assumed coverage on Klarna Group in a report on Wednesday, September 9th. They issued a “hold” rating and a $18.00 target price on the stock. Wells Fargo & Company cut their price target on Klarna Group from $26.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, August 19th. Freedom Capital upgraded Klarna Group to a “strong-buy” rating in a research report on Wednesday, June 24th. The Goldman Sachs Group raised their price objective on Klarna Group from $21.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Finally, TD Cowen cut their price objective on Klarna Group from $19.00 to $18.00 and set a “hold” rating for the company in a research note on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $27.79.

Klarna Group Trading Down 0.5%

Shares of NYSE KLAR opened at $12.35 on Friday. Klarna Group has a 12-month low of $12.06 and a 12-month high of $44.75. The firm has a market capitalization of $4.66 billion and a price-to-earnings ratio of -33.36. The firm has a 50 day moving average of $15.98 and a 200 day moving average of $16.03.

Klarna Group (NYSE:KLAR) last released its quarterly earnings results on Friday, August 14th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.07. Klarna Group had a negative net margin of 3.54% and a negative return on equity of 5.39%. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $992.56 million. The firm’s revenue was up 26.6% compared to the same quarter last year. Sell-side analysts predict that Klarna Group will post -0.01 EPS for the current year.

Insider Transactions at Klarna Group

In other Klarna Group news, CEO Sebastian Siemiatkowski purchased 692,506 shares of the firm’s stock in a transaction on Wednesday, August 26th. The shares were acquired at an average cost of $14.37 per share, with a total value of $9,951,311.22. Following the completion of the acquisition, the chief executive officer directly owned 25,344,322 shares in the company, valued at $364,197,907.14. The trade was a 2.81% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

Institutional Trading of Klarna Group

Institutional investors have recently made changes to their positions in the business. State Street Corp raised its stake in Klarna Group by 1,428.3% during the 2nd 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 during the period. WINTON GROUP Ltd purchased a new position in Klarna Group in the 2nd quarter worth approximately $342,000. Engineers Gate Manager LP bought a new position in Klarna Group in the 2nd quarter worth approximately $2,713,000. Integrated Wealth Concepts LLC purchased a new stake in Klarna Group during the 2nd quarter valued at approximately $35,000. Finally, NewEdge Advisors LLC grew its holdings in Klarna Group by 1,269.7% during the 2nd quarter. NewEdge Advisors LLC now owns 12,683 shares of the company’s stock valued at $257,000 after buying an additional 11,757 shares in the last quarter.

About Klarna Group

Klarna Group plc is a financial technology company that provides digital payments and shopping services for consumers and merchants. Its offerings include flexible payment options such as pay now, pay later and installment plans, along with digital checkout tools designed to help merchants accept and manage online and in-store transactions.

The company also operates a consumer shopping platform and mobile application that allow users to search for products, compare offerings, make purchases and manage payments.