Commonwealth Bank of Australia Purchases Shares of 17,407,235 Klarna Group plc $KLAR

Commonwealth Bank of Australia purchased a new stake in Klarna Group plc (NYSE:KLAR) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 17,407,235 shares of the company’s stock, valued at approximately $503,243,000. Klarna Group comprises approximately 98.6% of Commonwealth Bank of Australia’s portfolio, making the stock its biggest holding.

A number of other large investors have also recently added to or reduced their stakes in KLAR. Jones Financial Companies Lllp acquired a new stake in Klarna Group in the third quarter valued at $46,000. SBI Securities Co. Ltd. bought a new position in shares of Klarna Group in the third quarter valued at about $75,000. Skylands Capital LLC bought a new position in shares of Klarna Group in the third quarter valued at about $366,000. BIT Capital GmbH bought a new position in shares of Klarna Group in the third quarter valued at about $37,000. Finally, WT Asset Management Ltd bought a new position in shares of Klarna Group in the third quarter valued at about $2,016,000.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Klarna Group from $40.00 to $20.00 and set an “overweight” rating on the stock in a research report on Friday, February 20th. UBS Group dropped their price objective on shares of Klarna Group from $46.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Wells Fargo & Company dropped their price objective on shares of Klarna Group from $32.00 to $26.00 and set an “overweight” rating on the stock in a research report on Friday, May 15th. BMO Capital Markets raised their price target on shares of Klarna Group from $16.00 to $17.00 and gave the stock a “market perform” rating in a research report on Friday, May 15th. Finally, Bank of America raised their price target on shares of Klarna Group from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. Eleven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Klarna Group currently has an average rating of “Moderate Buy” and a consensus target price of $33.24.

Klarna Group Stock Performance

NYSE:KLAR opened at $16.35 on Friday. The firm has a market cap of $6.17 billion and a price-to-earnings ratio of -31.44. Klarna Group plc has a 52 week low of $12.06 and a 52 week high of $57.20. The firm’s 50-day simple moving average is $15.10 and its 200 day simple moving average is $20.38.

Klarna Group (NYSE:KLAR) last announced its quarterly earnings data on Wednesday, May 20th. The company reported ($0.01) earnings per share (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 business’s revenue for the quarter was up 42.7% on a year-over-year basis. Sell-side analysts anticipate that Klarna Group plc will post 0.04 EPS 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.