Waterfront Wealth Inc. Trims Stake in Kyndryl Holdings, Inc. (NYSE:KD)

Waterfront Wealth Inc. reduced its position in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 23.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 54,530 shares of the company’s stock after selling 16,745 shares during the quarter. Waterfront Wealth Inc.’s holdings in Kyndryl were worth $1,887,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. FMR LLC increased its holdings 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 acquiring an additional 1,569,260 shares during the period. Westfield Capital Management Co. LP increased its holdings in shares of Kyndryl by 62.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 3,259,082 shares of the company’s stock valued at $74,894,000 after acquiring an additional 1,254,208 shares during the period. Cinctive Capital Management LP purchased a new position in shares of Kyndryl in the 3rd quarter valued at $20,213,000. Cortland Associates Inc. MO increased its holdings in shares of Kyndryl by 35.7% in the 3rd quarter. Cortland Associates Inc. MO now owns 2,150,614 shares of the company’s stock valued at $49,421,000 after acquiring an additional 565,263 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Kyndryl by 166.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 839,178 shares of the company’s stock valued at $19,284,000 after acquiring an additional 524,168 shares during the period. 71.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on KD shares. Susquehanna lifted their price target on Kyndryl from $40.00 to $46.00 and gave the company a “positive” rating in a report on Wednesday, February 5th. Oppenheimer raised their price objective on Kyndryl from $37.00 to $43.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 4th. Finally, Bank of America began coverage on Kyndryl in a research report on Friday, November 22nd. They issued a “buy” rating and a $40.00 price objective for the company.

Kyndryl Stock Performance

Shares of KD opened at $39.76 on Friday. The stock has a 50-day moving average of $37.99 and a two-hundred day moving average of $30.06. Kyndryl Holdings, Inc. has a one year low of $19.24 and a one year high of $43.61. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market cap of $9.25 billion, a P/E ratio of 72.29, a P/E/G ratio of 12.01 and a beta of 1.86.

Insiders Place Their Bets

In other Kyndryl news, General Counsel Edward Sebold sold 27,500 shares of Kyndryl stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $42.83, for a total transaction of $1,177,825.00. Following the completion of the sale, the general counsel now owns 132,818 shares of the company’s stock, valued at approximately $5,688,594.94. The trade was a 17.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Vineet Khurana sold 55,465 shares of Kyndryl stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $42.81, for a total value of $2,374,456.65. Following the sale, the senior vice president now directly owns 43,877 shares of the company’s stock, valued at approximately $1,878,374.37. This represents a 55.83 % decrease in their position. The disclosure for this sale can be found here. 1.04% of the stock is currently owned by insiders.

Kyndryl Profile

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.