Kyndryl Holdings, Inc. (NYSE:KD) Holdings Reduced by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 4.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,851,358 shares of the company's stock after selling 81,370 shares during the quarter. Bank of New York Mellon Corp owned 0.80% of Kyndryl worth $64,057,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. IFP Advisors Inc increased its position in Kyndryl by 56.4% during the 4th quarter. IFP Advisors Inc now owns 2,457 shares of the company's stock worth $85,000 after purchasing an additional 886 shares during the period. Cohen Capital Management Inc. purchased a new stake in shares of Kyndryl in the fourth quarter valued at approximately $256,000. Allianz Asset Management GmbH grew its holdings in Kyndryl by 5.6% during the fourth quarter. Allianz Asset Management GmbH now owns 719,402 shares of the company's stock worth $24,891,000 after acquiring an additional 38,291 shares during the period. Handelsbanken Fonder AB raised its position in Kyndryl by 5.1% in the fourth quarter. Handelsbanken Fonder AB now owns 59,500 shares of the company's stock worth $2,059,000 after acquiring an additional 2,900 shares in the last quarter. Finally, Ieq Capital LLC acquired a new stake in Kyndryl in the fourth quarter valued at $3,503,000. 71.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on KD. Bank of America started coverage on shares of Kyndryl in a report on Friday, November 22nd. They issued a "buy" rating and a $40.00 target price for the company. Susquehanna boosted their price objective on shares of Kyndryl from $40.00 to $46.00 and gave the company a "positive" rating in a research report on Wednesday, February 5th. Finally, Oppenheimer upped their price objective 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.

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Kyndryl Stock Down 0.9 %

KD traded down $0.33 during trading hours on Friday, reaching $35.12. 1,020,606 shares of the stock traded hands, compared to its average volume of 1,848,438. Kyndryl Holdings, Inc. has a fifty-two week low of $19.24 and a fifty-two week high of $43.61. The company has a market cap of $8.17 billion, a price-to-earnings ratio of 63.93, a PEG ratio of 10.84 and a beta of 1.85. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.09 and a quick ratio of 1.09. The firm's fifty day simple moving average is $38.49 and its two-hundred day simple moving average is $31.07.

Insider Transactions at Kyndryl

In related news, SVP Vineet Khurana sold 55,465 shares of the company's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $42.81, for a total value of $2,374,456.65. Following the sale, the senior vice president now directly owns 43,877 shares of the company's stock, valued at $1,878,374.37. This represents a 55.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Edward Sebold sold 27,500 shares of the stock in a transaction 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 transaction, the general counsel now owns 132,818 shares in the company, valued at $5,688,594.94. This trade represents a 17.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.04% of the company's stock.

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.