Klarna Group plc $KLAR Shares Purchased by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group increased its Klarna stake by 47.5% in the first quarter, buying 385,811 additional shares to bring its total holdings to 1,198,554 shares worth about $15.7 million.
• Several other institutional investors also added new positions in Klarna, indicating continued interest from hedge funds and asset managers.
• Analysts remain broadly constructive on the stock, with Klarna carrying a Moderate Buy consensus and a target price of $32.11 after several firms raised their price targets and ratings.

Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Klarna Group plc (NYSE:KLAR - Free Report) by 47.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,198,554 shares of the company's stock after acquiring an additional 385,811 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.32% of Klarna Group worth $15,689,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. US Bancorp DE acquired a new position in shares of Klarna Group during the third quarter valued at $30,000. First Trust Advisors LP acquired a new stake in Klarna Group in the third quarter worth about $526,000. Russell Investments Group Ltd. bought a new position in Klarna Group in the 3rd quarter valued at about $19,272,000. Legal & General Group Plc bought a new position in Klarna Group in the 3rd quarter valued at about $148,000. Finally, Franklin Resources Inc. acquired a new position in Klarna Group during the 3rd quarter valued at about $10,995,000.

Analyst Ratings Changes

A number of brokerages have recently weighed in on KLAR. TD Cowen upped their price target on shares of Klarna Group from $17.00 to $19.00 and gave the stock a "hold" rating in a research note on Tuesday, July 7th. Bank of America raised their price objective on shares of Klarna Group from $21.00 to $23.00 and gave the company a "buy" rating in a research note on Monday, May 18th. BMO Capital Markets boosted their target price on Klarna Group from $17.00 to $19.00 and gave the stock a "market perform" rating in a report on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft increased their price target on Klarna Group from $18.00 to $27.00 and gave the company a "buy" rating in a research note on Thursday, July 2nd. Finally, Freedom Capital upgraded Klarna Group to a "strong-buy" rating in a research report 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, Klarna Group has an average rating of "Moderate Buy" and a consensus target price of $32.11.

Klarna Group Trading Up 1.9%

NYSE:KLAR opened at $19.63 on Wednesday. Klarna Group plc has a twelve month low of $12.06 and a twelve month high of $57.20. The company has a 50-day moving average of $17.45 and a 200-day moving average of $18.47. The firm has a market cap of $7.41 billion and a price-to-earnings ratio of -37.75.

Klarna Group (NYSE:KLAR - Get Free Report) last released its earnings results on Wednesday, May 20th. The company reported ($0.01) 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 firm's quarterly revenue was up 42.7% on a year-over-year basis. On average, research analysts forecast that Klarna Group plc will post 0.04 earnings per share for the current year.

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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