Renaissance Technologies LLC Boosts Stock Position in Klarna Group plc $KLAR

Key Points

• Renaissance Technologies increased its Klarna position by 173.9% in the first quarter, adding 1.30 million shares to hold 2.04 million shares worth approximately $26.7 million, or 0.54% of the company.
• Analyst sentiment is generally positive, with Klarna receiving a consensus “Moderate Buy” rating and a $32.11 average price target, although individual ratings range from “Strong Buy” to “Sell.”
• Klarna shares opened at $18.59, while the company reported a narrower-than-expected quarterly loss and 42.7% year-over-year revenue growth; however, it continues to post negative net margin and return on equity.

Renaissance Technologies LLC boosted its holdings in shares of Klarna Group plc (NYSE:KLAR - Free Report) by 173.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,043,100 shares of the company's stock after purchasing an additional 1,297,200 shares during the quarter. Renaissance Technologies LLC owned about 0.54% of Klarna Group worth $26,744,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. US Bancorp DE bought a new stake in shares of Klarna Group in the 3rd quarter worth about $30,000. First Trust Advisors LP bought a new position in shares of Klarna Group in the 3rd quarter valued at about $526,000. Russell Investments Group Ltd. purchased a new position in Klarna Group in the third quarter worth about $19,272,000. Legal & General Group Plc bought a new stake in Klarna Group during the third quarter worth approximately $148,000. Finally, Franklin Resources Inc. purchased a new stake in Klarna Group during the third quarter valued at approximately $10,995,000.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on KLAR shares. TD Cowen raised their price objective on Klarna Group from $17.00 to $19.00 and gave the company a "hold" rating in a research note on Tuesday, July 7th. Keefe, Bruyette & Woods raised their price target on Klarna Group from $22.00 to $26.00 and gave the stock an "outperform" rating in a research report on Friday, May 15th. BMO Capital Markets lifted their price objective on shares of Klarna Group from $17.00 to $19.00 and gave the stock a "market perform" rating in a research note on Tuesday, June 23rd. Weiss Ratings cut shares of Klarna Group from a "sell (d)" rating to a "sell (e+)" rating in a research report on Monday, May 18th. Finally, Zacks Research upgraded shares of Klarna Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 7th. 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 issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $32.11.

Klarna Group Stock Performance

Shares of NYSE KLAR opened at $18.59 on Thursday. Klarna Group plc has a fifty-two week low of $12.06 and a fifty-two week high of $57.20. The company has a market cap of $7.02 billion and a price-to-earnings ratio of -35.74. The business's 50 day moving average price is $18.25 and its 200-day moving average price is $17.62.

Klarna Group (NYSE:KLAR - Get Free Report) last announced its quarterly earnings data on Wednesday, May 20th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.12. Klarna Group had a negative return on equity of 7.62% and a negative net margin of 5.21%.Klarna Group's quarterly revenue was up 42.7% compared to the same quarter last year. Sell-side analysts predict that Klarna Group plc will post 0.05 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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