Adage Capital Partners GP L.L.C. Trims Stock Position in Kyndryl Holdings, Inc. (NYSE:KD)

Adage Capital Partners GP L.L.C. cut its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 32.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,200,000 shares of the company's stock after selling 575,000 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.52% of Kyndryl worth $41,520,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in KD. Bessemer Group Inc. raised its position in shares of Kyndryl by 9.4% during the 4th quarter. Bessemer Group Inc. now owns 2,881 shares of the company's stock valued at $99,000 after buying an additional 247 shares during the period. EverSource Wealth Advisors LLC increased its stake in Kyndryl by 35.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company's stock worth $39,000 after purchasing an additional 297 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in Kyndryl by 1.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 29,972 shares of the company's stock worth $1,037,000 after buying an additional 312 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Kyndryl by 0.7% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 51,298 shares of the company's stock worth $1,775,000 after purchasing an additional 332 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its stake in shares of Kyndryl by 19.6% during the fourth quarter. Brown Brothers Harriman & Co. now owns 2,259 shares of the company's stock worth $78,000 after buying an additional 370 shares during the period. 71.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on KD shares. Oppenheimer lifted their price target on Kyndryl from $37.00 to $43.00 and gave the stock an "outperform" rating in a report on Tuesday, February 4th. Susquehanna decreased their target price on shares of Kyndryl from $46.00 to $43.00 and set a "positive" rating for the company in a research note on Wednesday, April 23rd.

Insider Transactions at Kyndryl

In related news, SVP Vineet Khurana sold 55,465 shares of Kyndryl stock in a transaction dated 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 completion of the sale, the senior vice president now owns 43,877 shares in the company, valued at approximately $1,878,374.37. This trade represents a 55.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Edward Sebold sold 27,500 shares of the business'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 completion of the transaction, the general counsel now directly owns 132,818 shares of the company's stock, 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. Corporate insiders own 1.04% of the company's stock.

Kyndryl Price Performance

NYSE:KD traded down $0.03 during trading hours on Monday, hitting $32.02. The company's stock had a trading volume of 1,582,520 shares, compared to its average volume of 2,054,882. Kyndryl Holdings, Inc. has a 52-week low of $19.57 and a 52-week high of $43.61. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.09 and a current ratio of 1.09. The business's 50-day moving average is $33.33 and its two-hundred day moving average is $33.40. The company has a market capitalization of $7.45 billion, a PE ratio of 58.22, a PEG ratio of 10.84 and a beta of 1.91.

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.