SummitTX Capital L.P. Acquires New Stake in Klarna Group plc $KLAR

SummitTX Capital L.P. acquired a new stake in Klarna Group plc (NYSE:KLAR) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 60,138 shares of the company’s stock, valued at approximately $787,000.

Other large investors also recently bought and sold shares of the company. Commonwealth Bank of Australia purchased a new stake in shares of Klarna Group in the fourth quarter valued at about $503,243,000. Wellington Management Group LLP acquired a new position in shares of Klarna Group during the third quarter worth about $348,834,000. Scge Management L.P. purchased a new position in Klarna Group during the third quarter worth about $193,018,000. MIC Capital Management UK LLP acquired a new stake in Klarna Group in the third quarter valued at about $99,502,000. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Klarna Group in the fourth quarter valued at about $72,323,000.

Klarna Group Trading Up 2.2%

Shares of Klarna Group stock opened at $19.03 on Friday. The company has a 50-day moving average of $18.31 and a two-hundred day moving average of $17.53. Klarna Group plc has a 12-month low of $12.06 and a 12-month high of $57.20. The stock has a market cap of $7.18 billion and a PE ratio of -36.60.

Klarna Group (NYSE:KLAR) last announced its quarterly earnings results on Wednesday, May 20th. The company reported ($0.01) EPS for the quarter, topping 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%.The business’s revenue was up 42.7% compared to the same quarter last year. On average, sell-side analysts forecast that Klarna Group plc will post 0.05 EPS for the current fiscal year.

Analysts Set New Price Targets

KLAR has been the topic of several recent analyst reports. Citizens Jmp assumed coverage on Klarna Group in a research report on Tuesday, June 30th. They set a “market perform” rating on the stock. The Goldman Sachs Group raised their price target on Klarna Group from $21.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Zacks Research raised Klarna Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. Wells Fargo & Company cut their price objective on Klarna Group from $32.00 to $26.00 and set an “overweight” rating for the company in a research report on Friday, May 15th. Finally, Barclays assumed coverage on Klarna Group in a report on Wednesday, July 8th. They issued an “equal weight” rating and a $20.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $32.11.

Klarna Group 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.