Franklin Resources Inc. Acquires 21,860 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Franklin Resources Inc. grew its holdings in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 24.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 111,928 shares of the company's stock after buying an additional 21,860 shares during the quarter. Franklin Resources Inc.'s holdings in Kyndryl were worth $3,873,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of KD. Millstone Evans Group LLC bought a new position in shares of Kyndryl during the fourth quarter valued at approximately $35,000. Picton Mahoney Asset Management bought a new position in Kyndryl in the 4th quarter worth $38,000. EverSource Wealth Advisors LLC lifted its position in shares of 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 purchasing an additional 297 shares during the period. Sandy Spring Bank boosted its stake in shares of Kyndryl by 41.2% during the 4th quarter. Sandy Spring Bank now owns 1,514 shares of the company's stock valued at $52,000 after purchasing an additional 442 shares in the last quarter. Finally, Lee Danner & Bass Inc. purchased a new position in shares of Kyndryl during the fourth quarter valued at about $60,000. Hedge funds and other institutional investors own 71.53% of the company's stock.

Kyndryl Stock Down 2.2 %

KD traded down $0.65 during midday trading on Thursday, reaching $29.20. The company's stock had a trading volume of 347,816 shares, compared to its average volume of 2,043,307. Kyndryl Holdings, Inc. has a 1 year low of $19.24 and a 1 year high of $43.61. The stock's 50-day moving average is $34.87 and its 200-day moving average is $32.94. The firm has a market capitalization of $6.79 billion, a price-to-earnings ratio of 53.32, a PEG ratio of 10.84 and a beta of 1.91. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.55.

Insider Buying and Selling

In other 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 transaction, the general counsel now owns 132,818 shares in the company, valued at approximately $5,688,594.94. This represents a 17.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Vineet Khurana sold 55,465 shares of the business's stock in a transaction that occurred 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 transaction, the senior vice president now owns 43,877 shares of the company's stock, valued at approximately $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 currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on KD. Oppenheimer raised their price objective on shares of Kyndryl from $37.00 to $43.00 and gave the stock an "outperform" rating in a report on Tuesday, February 4th. Susquehanna raised their target price on Kyndryl from $40.00 to $46.00 and gave the company a "positive" rating in a research note 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.