Algert Global LLC Has $773,000 Position in Kyndryl Holdings, Inc. (NYSE:KD)

Algert Global LLC decreased its stake in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 77.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,647 shares of the company's stock after selling 117,520 shares during the quarter. Algert Global LLC's holdings in Kyndryl were worth $773,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its position in shares of Kyndryl by 32.3% in the 2nd quarter. Renaissance Technologies LLC now owns 2,765,800 shares of the company's stock valued at $72,768,000 after buying an additional 675,800 shares in the last quarter. Royce & Associates LP increased its holdings in shares of Kyndryl by 9.6% in the third quarter. Royce & Associates LP now owns 2,643,328 shares of the company's stock worth $60,744,000 after acquiring an additional 232,583 shares in the last quarter. Cortland Associates Inc. MO raised its position in shares of Kyndryl by 35.7% during the third quarter. Cortland Associates Inc. MO now owns 2,150,614 shares of the company's stock worth $49,421,000 after purchasing an additional 565,263 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Kyndryl by 8.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,102,657 shares of the company's stock valued at $55,321,000 after purchasing an additional 158,160 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position 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 purchasing an additional 76,670 shares during the period. Institutional investors own 71.53% of the company's stock.

Kyndryl Stock Performance

KD traded down $0.11 during trading hours on Friday, reaching $34.71. The company's stock had a trading volume of 905,291 shares, compared to its average volume of 1,753,703. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.03 and a current ratio of 1.03. The company's 50-day moving average is $26.09 and its 200-day moving average is $25.54. Kyndryl Holdings, Inc. has a 52 week low of $17.78 and a 52 week high of $35.23. The firm has a market cap of $8.06 billion, a PE ratio of -89.00, a price-to-earnings-growth ratio of 8.39 and a beta of 1.63.

Analysts Set New Price Targets

A number of brokerages recently weighed in on KD. Bank of America began coverage on shares of Kyndryl in a research note on Friday, November 22nd. They issued a "buy" rating and a $40.00 target price for the company. Susquehanna upped their price objective on Kyndryl from $33.00 to $40.00 and gave the stock a "positive" rating in a research report on Friday, November 22nd. Finally, Oppenheimer lifted their target price on Kyndryl from $33.00 to $37.00 and gave the company an "outperform" rating in a research report on Friday, November 22nd. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $33.00.

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.