Proficio Capital Partners LLC Makes New Investment in Kyndryl Holdings, Inc. (NYSE:KD)

Proficio Capital Partners LLC purchased a new stake in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 14,878 shares of the company's stock, valued at approximately $515,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Oppenheimer & Co. Inc. acquired a new stake in Kyndryl in the fourth quarter worth about $294,000. Oregon Public Employees Retirement Fund lifted its stake in shares of Kyndryl by 0.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 47,226 shares of the company's stock worth $1,634,000 after acquiring an additional 428 shares during the period. IFP Advisors Inc lifted its stake in shares of Kyndryl by 56.4% in the 4th quarter. IFP Advisors Inc now owns 2,457 shares of the company's stock worth $85,000 after acquiring an additional 886 shares during the period. Cohen Capital Management Inc. bought a new position in shares of Kyndryl in the fourth quarter valued at approximately $256,000. Finally, Allianz Asset Management GmbH increased its stake in shares of Kyndryl by 5.6% during the fourth quarter. Allianz Asset Management GmbH now owns 719,402 shares of the company's stock valued at $24,891,000 after acquiring an additional 38,291 shares during the period. 71.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Kyndryl

In related news, General Counsel Edward Sebold sold 27,500 shares of the company'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 owns 132,818 shares in the company, valued at approximately $5,688,594.94. This represents a 17.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Vineet Khurana sold 55,465 shares of Kyndryl stock in a transaction that occurred 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 transaction, the senior vice president now owns 43,877 shares in the company, valued at approximately $1,878,374.37. The trade was a 55.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.04% of the stock is currently owned by corporate insiders.

Remove Ads

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Bank of America started coverage on Kyndryl in a research note on Friday, November 22nd. They set a "buy" rating and a $40.00 price target for the company. Oppenheimer raised their target price on Kyndryl from $37.00 to $43.00 and gave the company an "outperform" rating in a research note on Tuesday, February 4th. Finally, Susquehanna boosted their price target on shares of Kyndryl from $40.00 to $46.00 and gave the stock a "positive" rating in a research report on Wednesday, February 5th.

Kyndryl Price Performance

Shares of NYSE KD traded down $0.33 during mid-day trading on Thursday, reaching $33.67. The company had a trading volume of 1,881,281 shares, compared to its average volume of 1,865,676. The company has a 50-day moving average price of $38.47 and a two-hundred day moving average price of $31.43. The stock has a market cap of $7.84 billion, a PE ratio of 61.22, a P/E/G ratio of 10.84 and a beta of 1.85. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.55. Kyndryl Holdings, Inc. has a 1-year low of $19.24 and a 1-year high of $43.61.

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.