Klarna Group plc $KLAR Stock Holdings Trimmed by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management cut its Klarna stake by 10.6% in the third quarter, selling 524,340 shares. It held 4.44 million shares, worth about $55 million, at the reporting date.
• Analyst sentiment is mostly cautious: Klarna has a consensus “Hold” rating and a $22.44 average price target, while several firms recently lowered targets or ratings.
• Klarna reported quarterly revenue of $1.04 billion, up 26.6% year over year, and EPS of $0.01, beating estimates. Shares opened at $13.44, near their 52-week low of $12.06.

Pictet Asset Management Holding SA trimmed its holdings in shares of Klarna Group plc (NYSE:KLAR - Free Report) by 10.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,438,171 shares of the company's stock after selling 524,340 shares during the period. Pictet Asset Management Holding SA owned 1.18% of Klarna Group worth $54,989,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in KLAR. Integrated Wealth Concepts LLC purchased a new position in shares of Klarna Group in the 2nd quarter valued at about $35,000. Asset Management One Co. Ltd. lifted its stake in Klarna Group by 39.9% during the third quarter. Asset Management One Co. Ltd. now owns 3,235 shares of the company's stock worth $40,000 after purchasing an additional 922 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Klarna Group by 154.8% during the third quarter. Farther Finance Advisors LLC now owns 3,402 shares of the company's stock worth $42,000 after purchasing an additional 2,067 shares during the last quarter. Atwood & Palmer Inc. purchased a new stake in Klarna Group during the second quarter worth approximately $86,000. Finally, Byrne Asset Management LLC acquired a new position in Klarna Group in the third quarter valued at approximately $105,000.

Analyst Ratings Changes

KLAR has been the topic of a number of research analyst reports. JPMorgan Chase & Co. cut shares of Klarna Group from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $22.00 to $18.00 in a report on Wednesday, August 19th. Barclays lowered their target price on shares of Klarna Group from $20.00 to $16.00 and set an "equal weight" rating for the company in a report on Wednesday, August 19th. Zacks Research lowered Klarna Group from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 5th. Morgan Stanley cut their target price on Klarna Group from $21.00 to $17.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 19th. Finally, Wall Street Zen upgraded Klarna Group from a "sell" rating to a "hold" rating in a research report on Sunday, November 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $22.44.

Insider Transactions at Klarna Group

In other news, CEO Sebastian Siemiatkowski acquired 692,506 shares of Klarna Group stock in a transaction that occurred on Wednesday, August 26th. The stock was purchased at an average price of $14.37 per share, for a total transaction of $9,951,311.22. Following the completion of the transaction, the chief executive officer directly owned 25,344,322 shares in the company, valued at approximately $364,197,907.14. This trade represents a 2.81% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Klarna Group Stock Performance

Shares of Klarna Group stock opened at $13.44 on Tuesday. The company has a market cap of $5.07 billion, a P/E ratio of -36.33 and a beta of 1.62. Klarna Group plc has a one year low of $12.06 and a one year high of $38.19. The firm has a fifty day moving average of $13.45 and a two-hundred day moving average of $16.05.

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

Klarna Group Company Profile

Klarna Group is a financial technology company that provides digital payment and shopping services to consumers and merchants. Its offerings include checkout payments, installment plans, and options to pay immediately or at a later date, subject to availability and terms.

The company also operates a shopping app where users can discover products, compare prices, track orders, and manage purchases. For merchants, Klarna provides payment processing and related tools designed to support online and in-store commerce.

Founded in Stockholm in 2005, Klarna serves consumers and businesses across multiple markets in Europe, North America, and other regions.

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