Edgestream Partners L.P. Sells 24,692 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Edgestream Partners L.P. cut its stake in Kyndryl Holdings, Inc. (NYSE:KD) by 18.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 106,748 shares of the company’s stock after selling 24,692 shares during the period. Edgestream Partners L.P.’s holdings in Kyndryl were worth $2,453,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in KD. ORG Wealth Partners LLC bought a new stake in shares of Kyndryl in the 3rd quarter worth approximately $29,000. Headlands Technologies LLC raised its position in Kyndryl by 60.2% during the second quarter. Headlands Technologies LLC now owns 1,475 shares of the company’s stock valued at $39,000 after purchasing an additional 554 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Kyndryl in the 2nd quarter worth approximately $39,000. UMB Bank n.a. boosted its holdings in Kyndryl by 44.2% during the 3rd quarter. UMB Bank n.a. now owns 1,508 shares of the company’s stock valued at $35,000 after acquiring an additional 462 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Kyndryl by 33.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,673 shares of the company’s stock valued at $44,000 after acquiring an additional 422 shares during the last quarter. 71.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Bank of America initiated coverage on shares of Kyndryl in a research note on Friday, November 22nd. They issued a “buy” rating and a $40.00 price target for the company. Susquehanna boosted their price target on Kyndryl from $33.00 to $40.00 and gave the company a “positive” rating in a report on Friday, November 22nd. Finally, Oppenheimer upped their price target on Kyndryl from $33.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $33.00.

Kyndryl Stock Down 1.9 %

Shares of NYSE:KD opened at $34.06 on Tuesday. The firm has a market capitalization of $7.91 billion, a PE ratio of -87.33, a price-to-earnings-growth ratio of 8.36 and a beta of 1.63. The firm’s 50-day moving average is $26.30 and its two-hundred day moving average is $25.55. Kyndryl Holdings, Inc. has a 1 year low of $18.05 and a 1 year high of $35.23. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.03 and a quick ratio of 1.03.

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.