Oppenheimer & Co. Inc. Purchases New Position in Kyndryl Holdings, Inc. (NYSE:KD)

Oppenheimer & Co. Inc. purchased a new position in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 8,506 shares of the company's stock, valued at approximately $294,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Westfield Capital Management Co. LP raised its stake in shares of Kyndryl by 62.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 3,259,082 shares of the company's stock worth $74,894,000 after purchasing an additional 1,254,208 shares in the last quarter. Tidal Investments LLC raised its stake in shares of Kyndryl by 45.9% in the 3rd quarter. Tidal Investments LLC now owns 102,270 shares of the company's stock valued at $2,350,000 after acquiring an additional 32,173 shares in the last quarter. Fifth Third Wealth Advisors LLC bought a new position in shares of Kyndryl in the 4th quarter valued at approximately $255,000. National Bank of Canada FI raised its stake in shares of Kyndryl by 33.7% in the 3rd quarter. National Bank of Canada FI now owns 656,901 shares of the company's stock valued at $15,096,000 after acquiring an additional 165,481 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Kyndryl by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,968,175 shares of the company's stock valued at $45,229,000 after acquiring an additional 76,670 shares in the last quarter. 71.53% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, 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 sale, the senior vice president now 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Edward Sebold sold 27,500 shares of Kyndryl stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $42.83, for a total value of $1,177,825.00. Following the sale, the general counsel now directly owns 132,818 shares in the company, valued at $5,688,594.94. The trade was a 17.15 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.04% of the company's stock.

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Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Oppenheimer raised their price objective on Kyndryl from $37.00 to $43.00 and gave the company an "outperform" rating in a research note on Tuesday, February 4th. Susquehanna raised their price objective on Kyndryl from $40.00 to $46.00 and gave the company a "positive" rating in a research note on Wednesday, February 5th. Finally, Bank of America began coverage on Kyndryl in a research note on Friday, November 22nd. They issued a "buy" rating and a $40.00 price objective on the stock.

Kyndryl Stock Performance

NYSE KD traded up $0.42 during trading on Tuesday, hitting $34.30. The company's stock had a trading volume of 2,166,847 shares, compared to its average volume of 1,861,793. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.55. The firm has a 50 day moving average price of $38.48 and a 200 day moving average price of $31.41. The firm has a market cap of $7.98 billion, a P/E ratio of 62.35, a price-to-earnings-growth ratio of 10.84 and a beta of 1.85. Kyndryl Holdings, Inc. has a 52 week low of $19.24 and a 52 week high of $43.61.

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.