Edgestream Partners L.P. Sells 75,421 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Edgestream Partners L.P. decreased its position in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 70.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,327 shares of the company's stock after selling 75,421 shares during the period. Edgestream Partners L.P.'s holdings in Kyndryl were worth $1,084,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. UMB Bank n.a. lifted its position in shares of Kyndryl by 27.1% in the fourth quarter. UMB Bank n.a. now owns 1,916 shares of the company's stock valued at $66,000 after acquiring an additional 408 shares in the last quarter. Fifth Third Bancorp boosted its stake in Kyndryl by 27.5% in the 4th quarter. Fifth Third Bancorp now owns 2,299 shares of the company's stock worth $80,000 after purchasing an additional 496 shares during the period. IFP Advisors Inc grew its holdings in Kyndryl by 56.4% during the 4th quarter. IFP Advisors Inc now owns 2,457 shares of the company's stock valued at $85,000 after buying an additional 886 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Kyndryl by 24.0% during the fourth quarter. GAMMA Investing LLC now owns 2,999 shares of the company's stock valued at $104,000 after buying an additional 580 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Kyndryl by 983.3% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,109 shares of the company's stock worth $108,000 after buying an additional 2,822 shares in the last quarter. 71.53% of the stock is owned by hedge funds and other institutional investors.

Kyndryl Stock Performance

NYSE:KD opened at $34.30 on Wednesday. The firm has a market capitalization of $7.98 billion, a PE ratio of 62.35, a PEG ratio of 10.84 and a beta of 1.85. The stock's fifty day moving average is $38.48 and its 200 day moving average is $31.41. 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 debt-to-equity ratio of 2.55, a quick ratio of 1.09 and a current ratio of 1.09.

Insider Activity

In other Kyndryl news, 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 owns 43,877 shares of the company's stock, valued at $1,878,374.37. This represents a 55.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Edward Sebold sold 27,500 shares of the company's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $42.83, for a total value 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 disclosure for this sale can be found here. Insiders own 1.04% of the company's stock.

Analysts Set New Price Targets

KD has been the subject of several research reports. Susquehanna increased their price objective on shares of Kyndryl from $40.00 to $46.00 and gave the company a "positive" rating in a report on Wednesday, February 5th. Bank of America initiated coverage on Kyndryl in a report on Friday, November 22nd. They set a "buy" rating and a $40.00 price target for the company. Finally, Oppenheimer lifted their price objective on Kyndryl from $37.00 to $43.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 4th.

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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.

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