Allspring Global Investments Holdings LLC Decreases Stock Holdings in Kyndryl Holdings, Inc. (NYSE:KD)

Allspring Global Investments Holdings LLC lowered its position in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 7.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,561,476 shares of the company’s stock after selling 193,974 shares during the period. Allspring Global Investments Holdings LLC owned 1.10% of Kyndryl worth $90,984,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. CWM LLC boosted its position in shares of Kyndryl by 92.7% during the 3rd quarter. CWM LLC now owns 12,193 shares of the company’s stock worth $280,000 after acquiring an additional 5,864 shares in the last quarter. UMB Bank n.a. boosted its holdings in Kyndryl by 44.2% in the third quarter. UMB Bank n.a. now owns 1,508 shares of the company’s stock valued at $35,000 after purchasing an additional 462 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in Kyndryl in the third quarter valued at approximately $29,000. Creative Planning raised its holdings in Kyndryl by 3.3% during the third quarter. Creative Planning now owns 42,999 shares of the company’s stock worth $988,000 after purchasing an additional 1,384 shares in the last quarter. Finally, Bleakley Financial Group LLC lifted its position in shares of Kyndryl by 6.2% during the 3rd quarter. Bleakley Financial Group LLC now owns 16,729 shares of the company’s stock worth $384,000 after buying an additional 971 shares during the last quarter. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Oppenheimer lifted their price target on shares of Kyndryl from $37.00 to $43.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 4th. Bank of America started coverage on Kyndryl in a research report on Friday, November 22nd. They set a “buy” rating and a $40.00 target price on the stock. Finally, Susquehanna boosted their target price on Kyndryl from $40.00 to $46.00 and gave the company a “positive” rating in a report on Wednesday, February 5th.

Kyndryl Stock Up 2.8 %

KD stock opened at $41.13 on Thursday. The company has a market cap of $9.57 billion, a price-to-earnings ratio of 74.78, a price-to-earnings-growth ratio of 12.64 and a beta of 1.86. The company has a fifty day moving average price of $37.24 and a 200 day moving average price of $29.43. 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 Holdings, Inc. has a 12 month low of $19.24 and a 12 month high of $43.61.

Insider Activity

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

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.