Klarna jumps after filing reveals that Chairman Michael Moritz bought ~$50 million in stock

Shares of Klarna rose 6% in premarket trading on Friday after the company’s chairman, Michael Moritz, purchased shares worth ~$50 million.

Per the “buy now, pay later” giant’s regulatory filings reported late on Thursday, Moritz purchased over 3.47 million shares between March 3 and 11 through an associated entity in multiple open market purchase transactions. On the same day, the company also filed Chief Product Design Officer David Fock’s purchase, worth ~$0.4 million, made during the same period.

The filings showed that Klarna’s two other executives sold a total of 56,502 shares under preestablished plans.

Klarna has had a volatile few days, dropping 11% yesterday amid a tough day for the market as a whole, after the company’s post-IPO lockup period expired for early investors.

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