AdvisorNet Financial Inc Decreases Stock Holdings in Kyndryl Holdings, Inc. (NYSE:KD)

AdvisorNet Financial Inc lowered its stake in Kyndryl Holdings, Inc. (NYSE:KD) by 8.0% during the second quarter, Holdings Channel.com reports. The fund owned 5,897 shares of the company’s stock after selling 510 shares during the quarter. AdvisorNet Financial Inc’s holdings in Kyndryl were worth $155,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Tidal Investments LLC grew its holdings in shares of Kyndryl by 240.7% during the first quarter. Tidal Investments LLC now owns 55,778 shares of the company’s stock worth $1,214,000 after buying an additional 39,408 shares in the last quarter. Bleakley Financial Group LLC grew its position in shares of Kyndryl by 11.8% in the first quarter. Bleakley Financial Group LLC now owns 15,307 shares of the company’s stock valued at $333,000 after purchasing an additional 1,621 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Kyndryl by 23.4% in the first quarter. Sei Investments Co. now owns 260,771 shares of the company’s stock valued at $5,674,000 after purchasing an additional 49,520 shares during the last quarter. Norges Bank purchased a new position in Kyndryl during the fourth quarter worth approximately $54,283,000. Finally, Cantor Fitzgerald Investment Advisors L.P. acquired a new position in shares of Kyndryl during the 4th quarter valued at about $940,000. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Insider Buying and Selling

In other Kyndryl news, SVP Vineet Khurana sold 30,430 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $26.36, for a total transaction of $802,134.80. Following the transaction, the senior vice president now directly owns 78,722 shares in the company, valued at $2,075,111.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.04% of the stock is currently owned by corporate insiders.

Kyndryl Trading Up 2.2 %

Shares of KD traded up $0.51 during trading on Thursday, reaching $23.67. 667,434 shares of the company traded hands, compared to its average volume of 1,751,315. The stock has a 50-day simple moving average of $25.59 and a 200-day simple moving average of $23.60. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.77. Kyndryl Holdings, Inc. has a twelve month low of $13.87 and a twelve month high of $28.60. The stock has a market cap of $5.46 billion, a PE ratio of -15.55, a price-to-earnings-growth ratio of 4.71 and a beta of 1.67.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Scotiabank raised their price objective on shares of Kyndryl from $28.00 to $30.00 and gave the stock a “sector outperform” rating in a research report on Monday, May 13th. Susquehanna lifted their price target on shares of Kyndryl from $27.00 to $33.00 and gave the company a “positive” rating in a research report on Thursday, May 9th. Finally, Oppenheimer started coverage on Kyndryl in a report on Thursday, June 27th. They issued an “outperform” rating and a $33.00 price objective on the stock. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Kyndryl currently has a consensus rating of “Buy” and an average target price of $29.40.

Kyndryl Company 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.