Klarna Group (NYSE:KLAR) Stock Price Breaks Below Fifty Day Moving Average – Here’s Why

Klarna Group plc (NYSE:KLAR)’s share price passed below its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $13.45 and traded as low as $13.34. Klarna Group shares last traded at $13.4430, with a volume of 4,067,679 shares trading hands.

Analysts Set New Price Targets

KLAR has been the topic of a number of analyst reports. Wall Street Zen raised shares of Klarna Group from a “sell” rating to a “hold” rating in a research note on Sunday, November 1st. Monness Crespi & Hardt assumed coverage on shares of Klarna Group in a research note on Monday, October 26th. They set a “buy” rating and a $20.00 price target for the company. JPMorgan Chase & Co. downgraded Klarna Group from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $22.00 to $18.00 in a report on Wednesday, August 19th. Barclays decreased their price objective on Klarna Group from $20.00 to $16.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 19th. Finally, Scotiabank started coverage on Klarna Group in a research note on Wednesday, September 2nd. They issued a “sector perform” rating and a $16.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $22.44.

Klarna Group Stock Performance

The firm has a market cap of $5.07 billion, a price-to-earnings ratio of -36.33 and a beta of 1.62. The business’s 50-day moving average is $13.45 and its 200-day moving average is $16.05.

Klarna Group (NYSE:KLAR) last announced its quarterly earnings results on Friday, August 14th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.07. The firm 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%. The firm’s quarterly revenue was up 26.6% compared to the same quarter last year. Equities research analysts expect that Klarna Group plc will post -0.01 EPS for the current fiscal year.

Insider Buying and Selling at Klarna Group

In other news, CEO Sebastian Siemiatkowski acquired 692,506 shares of the company’s stock in a transaction dated Wednesday, August 26th. The stock was bought at an average price of $14.37 per share, with a total value of $9,951,311.22. Following the completion of the acquisition, the chief executive officer owned 25,344,322 shares in the company, valued at approximately $364,197,907.14. This represents a 2.81% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Institutional Investors Weigh In On Klarna Group

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. increased its holdings in Klarna Group by 89.6% during the 2nd quarter. BlackRock Inc. now owns 5,698,353 shares of the company’s stock valued at $115,335,000 after purchasing an additional 2,693,374 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Klarna Group by 173.9% in the first quarter. Renaissance Technologies LLC now owns 2,043,100 shares of the company’s stock worth $26,744,000 after purchasing an additional 1,297,200 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in Klarna Group in the second quarter worth $11,848,000. Amova Asset Management Americas Inc. grew its holdings in shares of Klarna Group by 57.8% during the first quarter. Amova Asset Management Americas Inc. now owns 1,198,554 shares of the company’s stock worth $15,701,000 after purchasing an additional 438,930 shares during the last quarter. Finally, Bastion Asset Management Inc. bought a new stake in shares of Klarna Group during the first quarter worth $5,318,000.

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.