Envestnet Asset Management Inc. Has $1.69 Million Stake in Kyndryl Holdings, Inc. (NYSE:KD)

Envestnet Asset Management Inc. lifted its stake in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 64.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,729 shares of the company's stock after buying an additional 19,079 shares during the period. Envestnet Asset Management Inc.'s holdings in Kyndryl were worth $1,686,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in KD. Barclays PLC boosted its stake in shares of Kyndryl by 49.2% in the third quarter. Barclays PLC now owns 255,958 shares of the company's stock valued at $5,882,000 after buying an additional 84,347 shares during the period. Sanctuary Advisors LLC bought a new stake in Kyndryl during the third quarter worth $237,000. Wilmington Savings Fund Society FSB bought a new stake in Kyndryl during the third quarter worth $171,000. Tidal Investments LLC lifted its stake in Kyndryl by 45.9% during the third quarter. Tidal Investments LLC now owns 102,270 shares of the company's stock worth $2,350,000 after purchasing an additional 32,173 shares during the last quarter. Finally, Synovus Financial Corp lifted its stake in Kyndryl by 11.5% during the third quarter. Synovus Financial Corp now owns 25,074 shares of the company's stock worth $576,000 after purchasing an additional 2,581 shares during the last quarter. 71.53% of the stock is currently owned by institutional investors.

Kyndryl Stock Down 0.1 %

Shares of KD opened at $32.02 on Tuesday. Kyndryl Holdings, Inc. has a 52 week low of $19.57 and a 52 week high of $43.61. The stock has a market capitalization of $7.45 billion, a price-to-earnings ratio of 58.22, a PEG ratio of 10.84 and a beta of 1.91. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a fifty day moving average of $33.33 and a 200-day moving average of $33.40.

Insider Activity

In related news, General Counsel Edward Sebold sold 27,500 shares of the 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 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 at this hyperlink. Also, SVP Vineet Khurana sold 55,465 shares of the 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 completion of the sale, the senior vice president now owns 43,877 shares of the company's stock, valued at $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 corporate insiders.

Wall Street Analyst Weigh In

KD has been the subject of several recent analyst reports. Oppenheimer upped their target price on Kyndryl from $37.00 to $43.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 4th. Susquehanna cut their target price on Kyndryl from $46.00 to $43.00 and set a "positive" rating for the company in a research note on Wednesday, April 23rd.

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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