Kyndryl Holdings, Inc. (NYSE:KD) General Counsel Sells $1,177,825.00 in Stock

Kyndryl Holdings, Inc. (NYSE:KD) General Counsel Edward Sebold sold 27,500 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $42.83, for a total transaction of $1,177,825.00. Following the transaction, the general counsel now directly owns 132,818 shares in the company, valued at $5,688,594.94. The trade was a 17.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Kyndryl Trading Down 2.7 %

KD stock opened at $41.78 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.65. The company has a market cap of $9.70 billion, a price-to-earnings ratio of -107.12, a PEG ratio of 11.00 and a beta of 1.86. The business has a fifty day simple moving average of $36.73 and a 200-day simple moving average of $29.03. Kyndryl Holdings, Inc. has a 52 week low of $19.24 and a 52 week high of $43.61.

Institutional Investors Weigh In On Kyndryl

Several institutional investors and hedge funds have recently added to or reduced their stakes in KD. FMR LLC lifted its stake in shares of Kyndryl by 35.1% in the 3rd quarter. FMR LLC now owns 6,036,908 shares of the company’s stock valued at $138,728,000 after purchasing an additional 1,569,260 shares in the last quarter. Geode Capital Management LLC raised its holdings in Kyndryl by 1.7% in the third quarter. Geode Capital Management LLC now owns 3,867,873 shares of the company’s stock valued at $88,908,000 after buying an additional 63,997 shares during the period. Westfield Capital Management Co. LP lifted its position in Kyndryl by 62.6% during the third quarter. Westfield Capital Management Co. LP now owns 3,259,082 shares of the company’s stock valued at $74,894,000 after buying an additional 1,254,208 shares in the last quarter. Zimmer Partners LP grew its stake in Kyndryl by 1.9% during the third quarter. Zimmer Partners LP now owns 2,723,895 shares of the company’s stock worth $62,595,000 after buying an additional 49,738 shares during the period. Finally, Royce & Associates LP increased its position in shares of Kyndryl by 9.6% in the third quarter. Royce & Associates LP now owns 2,643,328 shares of the company’s stock worth $60,744,000 after acquiring an additional 232,583 shares in the last quarter. 71.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KD has been the topic of a number of recent analyst reports. Bank of America initiated coverage on Kyndryl in a research note on Friday, November 22nd. They set a “buy” rating and a $40.00 price target on the stock. Susquehanna increased their target price on Kyndryl from $40.00 to $46.00 and gave the stock a “positive” rating in a research report on Wednesday. Finally, Oppenheimer lifted their price target on Kyndryl from $37.00 to $43.00 and gave the company an “outperform” rating in a report on Tuesday.

About Kyndryl

Kyndryl Holdings, Inc operates as a technology services company and IT infrastructure services provider worldwide. The company offers cloud services; core enterprise and zCloud services; application, data, and artificial intelligence services; digital workplace services; security and resiliency services; and network services and edge services.