Allianz Asset Management GmbH Buys 38,291 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Allianz Asset Management GmbH raised its position in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 5.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 719,402 shares of the company's stock after acquiring an additional 38,291 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.31% of Kyndryl worth $24,891,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of KD. FMR LLC boosted its stake in shares of Kyndryl by 35.1% during the 3rd quarter. FMR LLC now owns 6,036,908 shares of the company's stock worth $138,728,000 after acquiring an additional 1,569,260 shares during the period. Geode Capital Management LLC boosted its position in Kyndryl by 1.7% during the third quarter. Geode Capital Management LLC now owns 3,867,873 shares of the company's stock worth $88,908,000 after purchasing an additional 63,997 shares during the period. 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 last quarter. Zimmer Partners LP increased its holdings in shares of Kyndryl by 1.9% in the third quarter. Zimmer Partners LP now owns 2,723,895 shares of the company's stock valued at $62,595,000 after purchasing an additional 49,738 shares during the last quarter. Finally, Royce & Associates LP raised its position 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 valued at $60,744,000 after purchasing an additional 232,583 shares during the period. Institutional investors own 71.53% of the company's stock.

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Analysts Set New Price Targets

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

Insider Activity at Kyndryl

In related news, General Counsel Edward Sebold sold 27,500 shares of the company'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 sale, the general counsel now owns 132,818 shares of the company's stock, valued at $5,688,594.94. This represents a 17.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Vineet Khurana sold 55,465 shares of the firm's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $42.81, for a total transaction of $2,374,456.65. Following the completion of the transaction, the senior vice president now directly owns 43,877 shares in the company, valued at approximately $1,878,374.37. This represents 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.

Kyndryl Stock Performance

NYSE KD traded up $0.34 during trading on Friday, reaching $38.07. The company's stock had a trading volume of 2,991,751 shares, compared to its average volume of 2,364,059. The firm has a 50 day moving average price of $38.27 and a 200 day moving average price of $30.59. Kyndryl Holdings, Inc. has a 12 month low of $19.24 and a 12 month high of $43.61. The firm has a market capitalization of $8.86 billion, a price-to-earnings ratio of 69.22, a price-to-earnings-growth ratio of 10.84 and a beta of 1.86. 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 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.