Insider Selling: Kyndryl Holdings, Inc. (NYSE:KD) SVP Sells 55,465 Shares of Stock

Kyndryl Holdings, Inc. (NYSE:KD) SVP Vineet Khurana sold 55,465 shares of the company’s stock in a transaction 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 sale, the senior vice president now directly owns 43,877 shares of the company’s stock, valued at approximately $1,878,374.37. This trade represents a 55.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Kyndryl Stock Performance

Shares of KD traded down $1.18 during midday trading on Friday, hitting $41.78. 1,438,513 shares of the stock traded hands, compared to its average volume of 2,634,184. The firm has a market capitalization of $9.70 billion, a PE ratio of -107.12, a price-to-earnings-growth ratio of 11.00 and a beta of 1.86. The business’s 50 day moving average price is $36.73 and its two-hundred day moving average price is $29.03. Kyndryl Holdings, Inc. has a 1-year low of $19.24 and a 1-year high of $43.61. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.03 and a current ratio of 1.03.

Analyst Ratings Changes

Several brokerages recently commented on KD. Susquehanna boosted their price target on Kyndryl from $40.00 to $46.00 and gave the stock a “positive” rating in a research report on Wednesday. Bank of America started coverage on shares of Kyndryl in a report on Friday, November 22nd. They set a “buy” rating and a $40.00 price target for the company. Finally, Oppenheimer increased their price target on Kyndryl from $37.00 to $43.00 and gave the company an “outperform” rating in a report on Tuesday.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in KD. ORG Wealth Partners LLC acquired a new position in Kyndryl during the third quarter worth about $29,000. UMB Bank n.a. boosted its holdings in Kyndryl by 44.2% during the third quarter. UMB Bank n.a. now owns 1,508 shares of the company’s stock worth $35,000 after buying an additional 462 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Kyndryl by 33.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,673 shares of the company’s stock worth $44,000 after buying an additional 422 shares during the last quarter. AlphaQuest LLC increased its holdings in shares of Kyndryl by 147.3% in the fourth quarter. AlphaQuest LLC now owns 1,877 shares of the company’s stock valued at $65,000 after buying an additional 1,118 shares in the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of Kyndryl by 27.5% during the 4th quarter. Fifth Third Bancorp now owns 2,299 shares of the company’s stock valued at $80,000 after acquiring an additional 496 shares during the last quarter. Institutional investors and hedge funds own 71.53% of the company’s stock.

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.