Kyndryl (NYSE:KD) Stock Price Down 1.6% – Should You Sell?

Kyndryl Holdings, Inc. (NYSE:KD)’s stock price was down 1.6% during trading on Wednesday . The company traded as low as $40.95 and last traded at $41.20. Approximately 459,353 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 2,383,648 shares. The stock had previously closed at $41.87.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on KD shares. Oppenheimer increased their target price 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. Susquehanna increased their price objective on Kyndryl from $40.00 to $46.00 and gave the stock a “positive” rating in a research report on Wednesday, February 5th. Finally, Bank of America began coverage on Kyndryl in a report on Friday, November 22nd. They issued a “buy” rating and a $40.00 target price on the stock.

Kyndryl Stock Down 3.4 %

The stock has a market capitalization of $8.93 billion, a PE ratio of 69.80, a PEG ratio of 12.01 and a beta of 1.86. The firm’s fifty day moving average is $38.05 and its 200-day moving average is $30.16. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.55.

Insider Transactions at Kyndryl

In other Kyndryl news, General Counsel Edward Sebold sold 27,500 shares of the company’s stock in a transaction dated 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 transaction, the general counsel now directly owns 132,818 shares in the company, valued at approximately $5,688,594.94. This represents a 17.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Vineet Khurana sold 55,465 shares of the stock in a transaction dated 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 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 disclosure for this sale can be found here. Company insiders own 1.04% of the company’s stock.

Institutional Investors Weigh In On Kyndryl

A number of institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC grew its holdings in Kyndryl by 105.5% in the fourth quarter. FMR LLC now owns 12,408,449 shares of the company’s stock valued at $429,332,000 after purchasing an additional 6,371,541 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Kyndryl by 123.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,683,060 shares of the company’s stock worth $127,434,000 after buying an additional 2,033,549 shares during the last quarter. Westfield Capital Management Co. LP boosted its position in shares of Kyndryl by 62.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 3,259,082 shares of the company’s stock worth $74,894,000 after buying an additional 1,254,208 shares in the last quarter. Deutsche Bank AG grew its stake in Kyndryl by 95.9% in the 4th quarter. Deutsche Bank AG now owns 2,147,009 shares of the company’s stock valued at $74,287,000 after acquiring an additional 1,050,856 shares during the last quarter. Finally, Cinctive Capital Management LP acquired a new stake in Kyndryl in the 3rd quarter valued at about $20,213,000. Institutional investors and hedge funds own 71.53% of the company’s stock.

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.