Kyndryl Holdings, Inc. (NYSE:KD) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. reduced its stake in Kyndryl Holdings, Inc. (NYSE:KD) by 3.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 262,787 shares of the company’s stock after selling 10,597 shares during the quarter. Corebridge Financial Inc.’s holdings in Kyndryl were worth $9,092,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Millstone Evans Group LLC purchased a new stake in Kyndryl in the fourth quarter valued at approximately $35,000. Picton Mahoney Asset Management acquired a new stake in shares of Kyndryl in the fourth quarter valued at $38,000. EverSource Wealth Advisors LLC raised its holdings in shares of Kyndryl by 35.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock valued at $39,000 after buying an additional 297 shares during the period. Sandy Spring Bank lifted its stake in Kyndryl by 41.2% during the 4th quarter. Sandy Spring Bank now owns 1,514 shares of the company’s stock worth $52,000 after acquiring an additional 442 shares in the last quarter. Finally, Lee Danner & Bass Inc. purchased a new position in Kyndryl during the 4th quarter valued at about $60,000. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Kyndryl Stock Performance

Shares of Kyndryl stock opened at $32.38 on Friday. The business has a 50-day simple moving average of $37.81 and a 200-day simple moving average of $32.23. The company has a market cap of $7.53 billion, a PE ratio of 58.86, a P/E/G ratio of 10.84 and a beta of 1.85. 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.

Analyst Ratings Changes

KD has been the topic of a number of recent research reports. Susquehanna boosted their price target on shares of Kyndryl from $40.00 to $46.00 and gave the stock a “positive” rating in a research note on Wednesday, February 5th. Oppenheimer increased their target price on shares of Kyndryl from $37.00 to $43.00 and gave the stock an “outperform” rating in a report on Tuesday, February 4th.

Insiders Place Their Bets

In related news, SVP Vineet Khurana sold 55,465 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $42.81, for a total transaction of $2,374,456.65. Following the completion of the sale, the senior vice president now owns 43,877 shares in the company, valued at $1,878,374.37. The trade was a 55.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Edward Sebold sold 27,500 shares of the 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 completion of the transaction, the general counsel now owns 132,818 shares in the company, valued at $5,688,594.94. This represents a 17.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.04% of the stock is currently owned by company insiders.

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.