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

Commonwealth Bank of Australia bought a new stake in Klarna Group plc (NYSE:KLAR) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 17,407,235 shares of the company’s stock, valued at approximately $503,243,000. Klarna Group makes up about 98.6% of Commonwealth Bank of Australia’s investment portfolio, making the stock its largest position. Commonwealth Bank of Australia owned approximately 2.42% of Klarna Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in KLAR. SC US Ttgp LTD. acquired a new position in shares of Klarna Group in the third quarter valued at approximately $2,016,821,000. Wellington Management Group LLP acquired a new position in shares of Klarna Group in the third quarter valued at approximately $348,834,000. Scge Management L.P. acquired a new position in shares of Klarna Group in the third quarter valued at approximately $193,018,000. HarbourVest Partners LLC acquired a new position in shares of Klarna Group in the third quarter valued at approximately $184,105,000. Finally, Technology Crossover Management X Ltd. acquired a new position in shares of Klarna Group in the third quarter valued at approximately $140,910,000.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on KLAR. TD Cowen began coverage on shares of Klarna Group in a report on Monday, May 11th. They issued a “hold” rating and a $16.00 price target for the company. Weiss Ratings cut shares of Klarna Group from a “sell (d)” rating to a “sell (e+)” rating in a report on Monday, May 18th. UBS Group reduced their price target on shares of Klarna Group from $46.00 to $20.00 and set a “buy” rating for the company in a report on Friday, February 20th. Wall Street Zen upgraded shares of Klarna Group from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, The Goldman Sachs Group increased their target price on shares of Klarna Group from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Eleven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Klarna Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.24.

Klarna Group Trading Up 3.6%

Shares of KLAR opened at $16.35 on Friday. Klarna Group plc has a 12 month low of $12.06 and a 12 month high of $57.20. The firm has a fifty day simple moving average of $15.10 and a 200 day simple moving average of $20.38. The stock has a market capitalization of $6.17 billion and a price-to-earnings ratio of -31.44.

Klarna Group (NYSE:KLAR) last announced its 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 net margin of 5.21% and a negative return on equity of 7.62%. The company’s revenue for the quarter was up 42.7% on a year-over-year basis. As a group, research analysts predict that Klarna Group plc will post 0.04 earnings per share for the current fiscal 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.