Fmr LLC Acquires 6,371,541 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

FMR LLC boosted its stake in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 105.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,408,449 shares of the company's stock after purchasing an additional 6,371,541 shares during the quarter. FMR LLC owned about 5.34% of Kyndryl worth $429,332,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Tidal Investments LLC increased its position in Kyndryl by 45.9% during the 3rd 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 in the last quarter. Fifth Third Wealth Advisors LLC acquired a new position in shares of Kyndryl during the fourth quarter valued at about $255,000. National Bank of Canada FI grew its stake in Kyndryl by 33.7% in the 3rd quarter. National Bank of Canada FI now owns 656,901 shares of the company's stock valued at $15,096,000 after purchasing an additional 165,481 shares during the period. Dakota Wealth Management bought a new position in Kyndryl during the fourth quarter valued at $1,221,000. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of Kyndryl during the 4th quarter valued at $2,775,000. 71.53% of the stock is owned by institutional investors.

Insider Transactions at Kyndryl

In other news, SVP Vineet Khurana sold 55,465 shares of Kyndryl stock in a transaction dated 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 transaction, the senior vice president now directly owns 43,877 shares of the company's stock, valued at $1,878,374.37. The trade was a 55.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 transaction of $1,177,825.00. Following the completion of the transaction, the general counsel now directly owns 132,818 shares of the company's stock, valued at $5,688,594.94. This represents a 17.15 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.04% of the company's stock.

Kyndryl Trading Up 1.5 %

Shares of NYSE KD traded up $0.46 during mid-day trading on Tuesday, hitting $30.31. The stock had a trading volume of 396,972 shares, compared to its average volume of 2,041,922. The firm has a market cap of $7.05 billion, a P/E ratio of 55.12, a price-to-earnings-growth ratio of 10.84 and a beta of 1.91. Kyndryl Holdings, Inc. has a 1 year low of $19.24 and a 1 year 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. The business has a 50 day moving average price of $35.36 and a two-hundred day moving average price of $32.98.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Oppenheimer increased their target price on Kyndryl from $37.00 to $43.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 4th. Susquehanna lifted their price objective on shares of Kyndryl from $40.00 to $46.00 and gave the stock a "positive" rating in a report on Wednesday, February 5th.

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.