Jag Capital Management LLC Lowers Holdings in Kyndryl Holdings, Inc. (NYSE:KD)

Jag Capital Management LLC trimmed its position in Kyndryl Holdings, Inc. (NYSE:KD) by 11.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 8,461 shares of the company’s stock after selling 1,123 shares during the quarter. Jag Capital Management LLC’s holdings in Kyndryl were worth $293,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. FMR LLC increased its position in Kyndryl by 35.1% during the 3rd quarter. FMR LLC now owns 6,036,908 shares of the company’s stock valued at $138,728,000 after buying an additional 1,569,260 shares in the last quarter. Westfield Capital Management Co. LP increased its holdings in shares of Kyndryl by 62.6% in the third quarter. Westfield Capital Management Co. LP now owns 3,259,082 shares of the company’s stock valued at $74,894,000 after purchasing an additional 1,254,208 shares during the period. Cinctive Capital Management LP acquired a new position in shares of Kyndryl in the third quarter valued at about $20,213,000. Cortland Associates Inc. MO increased its holdings in shares of Kyndryl by 35.7% in the third quarter. Cortland Associates Inc. MO now owns 2,150,614 shares of the company’s stock valued at $49,421,000 after purchasing an additional 565,263 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Kyndryl by 166.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 839,178 shares of the company’s stock valued at $19,284,000 after purchasing an additional 524,168 shares during the period. 71.53% of the stock is currently owned by hedge funds and other institutional investors.

Kyndryl Stock Down 1.7 %

Shares of KD stock opened at $37.43 on Tuesday. The stock has a 50 day moving average of $38.34 and a 200 day moving average of $30.81. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.55. The stock has a market cap of $8.71 billion, a P/E ratio of 68.05, a P/E/G ratio of 10.84 and a beta of 1.86. Kyndryl Holdings, Inc. has a twelve month low of $19.24 and a twelve month high of $43.61.

Insider Activity at Kyndryl

In other Kyndryl news, SVP Vineet Khurana sold 55,465 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $42.81, for a total value 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Edward Sebold sold 27,500 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the general counsel now directly owns 132,818 shares in the company, valued at approximately $5,688,594.94. The trade was a 17.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.04% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

KD has been the topic of a number of research reports. Oppenheimer increased their price objective on Kyndryl from $37.00 to $43.00 and gave the company an “outperform” rating in a report on Tuesday, February 4th. Bank of America initiated coverage on Kyndryl in a report on Friday, November 22nd. They issued a “buy” rating and a $40.00 price objective on the stock. Finally, Susquehanna increased their price objective on Kyndryl from $40.00 to $46.00 and gave the company a “positive” rating in a report on Wednesday, February 5th.

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.