Bastion Asset Management Inc. Buys New Position in Klarna Group plc $KLAR

Key Points

• Bastion Asset Management opened a new position in Klarna Group during the first quarter, buying 391,024 shares valued at about $5.3 million. The stake represents 1.6% of Bastion’s holdings and makes Klarna its 29th-largest position.
• Klarna recently reported quarterly earnings of ($0.01) per share, beating analyst expectations of a $0.13 loss, while revenue jumped 42.7% year over year. The company still posted negative margins and return on equity.
• Analyst sentiment is mixed but generally positive, with an average rating of Moderate Buy and an average price target of $32.11. Recent updates included upgrades from Wall Street Zen and Freedom Capital, while JPMorgan and Morgan Stanley also revised targets/ratings.

Bastion Asset Management Inc. purchased a new position in Klarna Group plc (NYSE:KLAR - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 391,024 shares of the company's stock, valued at approximately $5,318,000. Klarna Group accounts for 1.6% of Bastion Asset Management Inc.'s holdings, making the stock its 29th largest position. Bastion Asset Management Inc. owned approximately 0.10% of Klarna Group as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of KLAR. Global Retirement Partners LLC grew its stake in shares of Klarna Group by 800.0% in the fourth quarter. Global Retirement Partners LLC now owns 900 shares of the company's stock worth $26,000 after acquiring an additional 800 shares during the last quarter. Leonteq Securities AG bought a new stake in Klarna Group in the 4th quarter valued at $29,000. US Bancorp DE acquired a new stake in Klarna Group in the 3rd quarter worth $30,000. Allworth Financial LP bought a new position in shares of Klarna Group during the 3rd quarter worth about $37,000. Finally, CWM LLC raised its position in shares of Klarna Group by 172.9% during the fourth quarter. CWM LLC now owns 1,498 shares of the company's stock valued at $43,000 after buying an additional 949 shares during the last quarter.

Klarna Group Stock Performance

Shares of NYSE KLAR opened at $19.24 on Friday. Klarna Group plc has a 52-week low of $12.06 and a 52-week high of $57.20. The business has a fifty day moving average of $17.65 and a two-hundred day moving average of $18.32. The stock has a market cap of $7.26 billion and a PE ratio of -37.00.

Klarna Group (NYSE:KLAR - Get Free Report) last announced its earnings results on Wednesday, May 20th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.13) by $0.12. Klarna Group had a negative net margin of 5.21% and a negative return on equity of 7.62%. The company's revenue for the quarter was up 42.7% on a year-over-year basis. Analysts predict that Klarna Group plc will post 0.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on KLAR shares. Wall Street Zen upgraded Klarna Group from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Freedom Capital upgraded Klarna Group to a "strong-buy" rating in a research report on Wednesday, June 24th. Morgan Stanley raised their target price on Klarna Group from $16.00 to $18.00 and gave the stock an "equal weight" rating in a research report on Monday, May 18th. JPMorgan Chase & Co. boosted their price target on shares of Klarna Group from $20.00 to $22.00 and gave the company an "overweight" rating in a report on Wednesday, July 8th. Finally, Wells Fargo & Company reduced their price objective on shares of Klarna Group from $32.00 to $26.00 and set an "overweight" rating for the company in a report on Friday, May 15th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently 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.

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