Corebridge Financial Inc. Sells 10,597 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Corebridge Financial Inc. decreased its holdings in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 3.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 262,787 shares of the company's stock after selling 10,597 shares during the period. Corebridge Financial Inc. owned about 0.11% of Kyndryl worth $9,092,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. EverSource Wealth Advisors LLC increased its holdings in Kyndryl by 35.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company's stock worth $39,000 after buying an additional 297 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Kyndryl by 1.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 29,972 shares of the company's stock valued at $1,037,000 after acquiring an additional 312 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Kyndryl by 0.7% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 51,298 shares of the company's stock worth $1,775,000 after acquiring an additional 332 shares during the period. Louisiana State Employees Retirement System raised its holdings in shares of Kyndryl by 0.6% during the fourth quarter. Louisiana State Employees Retirement System now owns 64,500 shares of the company's stock valued at $2,232,000 after purchasing an additional 400 shares during the last quarter. Finally, UMB Bank n.a. lifted its position in Kyndryl by 27.1% during the fourth quarter. UMB Bank n.a. now owns 1,916 shares of the company's stock valued at $66,000 after purchasing an additional 408 shares during the period. Hedge funds and other institutional investors own 71.53% of the company's stock.

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Kyndryl Stock Performance

KD stock traded up $0.76 during midday trading on Tuesday, reaching $32.16. 2,312,364 shares of the company's stock traded hands, compared to its average volume of 2,005,294. The stock's 50-day moving average is $37.40 and its 200 day moving average is $32.55. The stock has a market cap of $7.48 billion, a P/E ratio of 58.47, a PEG 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. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.55.

Analysts Set New Price Targets

A number of research firms have commented on KD. Susquehanna lifted their target price on shares of Kyndryl from $40.00 to $46.00 and gave the stock a "positive" rating in a research report on Wednesday, February 5th. Oppenheimer lifted their price objective on Kyndryl from $37.00 to $43.00 and gave the stock an "outperform" rating in a report on Tuesday, February 4th.

Insider Transactions at Kyndryl

In other Kyndryl news, General Counsel Edward Sebold sold 27,500 shares of the company'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 value of $1,177,825.00. Following the completion of the transaction, the general counsel now directly owns 132,818 shares in the company, 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 this hyperlink. Also, SVP Vineet Khurana sold 55,465 shares of the stock in a transaction on 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 directly owns 43,877 shares of the company's stock, valued at approximately $1,878,374.37. This trade 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 company insiders.

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.