Sumitomo Mitsui Trust Group Inc. Sells 63,197 Shares of Klarna Group plc $KLAR

Sumitomo Mitsui Trust Group Inc. decreased its position in shares of Klarna Group plc (NYSE:KLAR) by 5.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,066,866 shares of the company’s stock after selling 63,197 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.28% of Klarna Group worth $13,218,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of KLAR. Asset Management One Co. Ltd. increased its position in shares of Klarna Group by 39.9% during the third quarter. Asset Management One Co. Ltd. now owns 3,235 shares of the company’s stock worth $40,000 after purchasing an additional 922 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in shares of Klarna Group by 4.6% during the 3rd quarter. D.A. Davidson & CO. now owns 24,850 shares of the company’s stock valued at $308,000 after purchasing an additional 1,100 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Klarna Group during the 2nd quarter valued at $35,000. Farther Finance Advisors LLC boosted its position in shares of Klarna Group by 154.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,402 shares of the company’s stock worth $42,000 after purchasing an additional 2,067 shares in the last quarter. Finally, Wedbush Securities Inc. boosted its position in shares of Klarna Group by 23.5% in the 3rd quarter. Wedbush Securities Inc. now owns 15,770 shares of the company’s stock worth $195,000 after purchasing an additional 3,000 shares in the last quarter.

Klarna Group Price Performance

Shares of KLAR opened at $13.56 on Friday. The firm has a market capitalization of $5.12 billion, a PE ratio of -36.64 and a beta of 1.62. Klarna Group plc has a 1-year low of $12.06 and a 1-year high of $38.19. The company’s fifty day moving average price is $13.47 and its 200-day moving average price is $16.19.

Klarna Group (NYSE:KLAR) last released its 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 for the quarter, compared to the consensus estimate of $992.56 million. Klarna Group had a negative return on equity of 5.39% and a negative net margin of 3.54%. The firm’s revenue was up 26.6% on a year-over-year basis. As a group, research analysts anticipate that Klarna Group plc will post -0.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Sebastian Siemiatkowski purchased 692,506 shares of the company’s stock in a transaction on Wednesday, August 26th. The shares were acquired at an average price of $14.37 per share, for a total transaction of $9,951,311.22. Following the purchase, the chief executive officer owned 25,344,322 shares in the company, valued at $364,197,907.14. This trade represents a 2.81% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on KLAR. Wolfe Research downgraded Klarna Group from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, August 25th. Scotiabank began coverage on Klarna Group in a research note on Wednesday, September 2nd. They issued a “sector perform” rating and a $16.00 price target for the company. TD Cowen lowered their price target on Klarna Group from $18.00 to $16.00 and set a “hold” rating for the company in a report on Tuesday, October 6th. Loop Capital started coverage on Klarna Group in a research note on Wednesday, September 9th. They set a “hold” rating and a $18.00 price target on the stock. Finally, Zacks Research lowered Klarna Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $22.44.

Klarna Group Profile

Klarna Group is a global financial technology company that provides digital payment and consumer-finance services. Its platform enables shoppers to pay immediately, later, or over time, while giving merchants tools to process payments, manage checkout experiences, and engage customers.

The company’s products include buy now, pay later options, installment plans, direct payments, digital checkout services, and the Klarna Card. Klarna also operates a consumer shopping platform that allows users to discover products, compare offers, track purchases, and manage payments.