Arrowstreet Capital Limited Partnership Boosts Stock Position in Kyndryl Holdings, Inc. (NYSE:KD)

Arrowstreet Capital Limited Partnership increased its position in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 123.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,683,060 shares of the company's stock after acquiring an additional 2,033,549 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 1.59% of Kyndryl worth $127,434,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Millstone Evans Group LLC bought a new stake in shares of Kyndryl during the 4th quarter valued at $35,000. Picton Mahoney Asset Management bought a new stake in Kyndryl during the fourth quarter valued at about $38,000. EverSource Wealth Advisors LLC lifted its position in shares of Kyndryl by 35.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company's stock valued at $39,000 after acquiring an additional 297 shares in the last quarter. Sandy Spring Bank boosted its stake in shares of Kyndryl by 41.2% in the fourth quarter. Sandy Spring Bank now owns 1,514 shares of the company's stock worth $52,000 after acquiring an additional 442 shares during the period. Finally, Lee Danner & Bass Inc. purchased a new stake in shares of Kyndryl during the fourth quarter worth about $60,000. Institutional investors own 71.53% of the company's stock.

Kyndryl Stock Down 7.4 %

Shares of Kyndryl stock traded down $2.29 during trading on Friday, hitting $28.71. 3,371,394 shares of the stock traded hands, compared to its average volume of 2,031,588. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.55. The stock's fifty day simple moving average is $36.90 and its 200 day simple moving average is $32.58. The firm has a market cap of $6.68 billion, a P/E ratio of 52.21, 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.

Insiders Place Their Bets

In related news, General Counsel Edward Sebold sold 27,500 shares of the business'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 transaction of $1,177,825.00. Following the completion of the transaction, the general counsel now owns 132,818 shares in the company, valued at $5,688,594.94. The trade was a 17.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Vineet Khurana sold 55,465 shares of the company's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $42.81, for a total value of $2,374,456.65. Following the transaction, the senior vice president now directly 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 owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. 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 note on Wednesday, February 5th. Oppenheimer increased their price target on Kyndryl from $37.00 to $43.00 and gave the company an "outperform" rating in a research note on Tuesday, February 4th.

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.