Klarna Group plc $KLAR Position Boosted by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon increased its Klarna stake by 443% in the second quarter, purchasing 106,818 additional shares to hold 130,929 shares valued at approximately $2.65 million.
• Klarna CEO Sebastian Siemiatkowski bought 692,506 shares for nearly $10 million, increasing his position by 2.81% and signaling insider confidence.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $29.63. Klarna exceeded quarterly earnings and revenue expectations, reporting $1.04 billion in revenue, up 26.6% year over year, but remained unprofitable.

Bank of New York Mellon Corp lifted its stake in Klarna Group plc (NYSE:KLAR - Free Report) by 443.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 130,929 shares of the company's stock after purchasing an additional 106,818 shares during the quarter. Bank of New York Mellon Corp's holdings in Klarna Group were worth $2,650,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in KLAR. Caitong International Asset Management Co. Ltd raised its holdings in shares of Klarna Group by 19.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,053 shares of the company's stock worth $117,000 after acquiring an additional 665 shares in the last quarter. Global Retirement Partners LLC grew its stake in Klarna Group by 800.0% in the fourth quarter. Global Retirement Partners LLC now owns 900 shares of the company's stock valued at $26,000 after purchasing an additional 800 shares in the last quarter. US Bancorp DE acquired a new position in Klarna Group in the 3rd quarter worth about $30,000. SBI Securities Co. Ltd. increased its position in Klarna Group by 42.1% in the 4th quarter. SBI Securities Co. Ltd. now owns 2,891 shares of the company's stock worth $84,000 after purchasing an additional 856 shares during the last quarter. Finally, CWM LLC raised its stake in shares of Klarna Group by 172.9% during the 4th quarter. CWM LLC now owns 1,498 shares of the company's stock worth $43,000 after purchasing an additional 949 shares in the last quarter.

Insider Activity at Klarna Group

In other Klarna Group news, CEO Sebastian Siemiatkowski acquired 692,506 shares of the company's stock in a transaction dated Wednesday, August 26th. The shares were acquired at an average cost of $14.37 per share, for a total transaction of $9,951,311.22. Following the completion of the purchase, the chief executive officer owned 25,344,322 shares of the company's stock, valued at approximately $364,197,907.14. This trade represents a 2.81% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on KLAR shares. Barclays lowered their price target on Klarna Group from $20.00 to $16.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 19th. Keefe, Bruyette & Woods reduced their target price on shares of Klarna Group from $26.00 to $21.00 and set an "outperform" rating for the company in a research note on Friday, August 21st. Weiss Ratings reissued a "sell (e+)" rating on shares of Klarna Group in a research report on Thursday, August 13th. Citizens Jmp assumed coverage on shares of Klarna Group in a research note on Tuesday, June 30th. They set a "market perform" rating on the stock. Finally, Freedom Capital upgraded shares of Klarna Group to a "strong-buy" rating in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $29.63.

Klarna Group Stock Up 0.7%

Shares of Klarna Group stock opened at $14.51 on Tuesday. Klarna Group plc has a 12-month low of $12.06 and a 12-month high of $57.20. The stock has a 50 day moving average price of $17.89 and a two-hundred day moving average price of $16.12. The stock has a market capitalization of $5.48 billion and a P/E ratio of -39.22.

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

About Klarna Group

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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