Kyndryl Holdings, Inc. (NYSE:KD) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC cut its holdings in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 16.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 65,284 shares of the company's stock after selling 12,405 shares during the period. Gabelli Funds LLC's holdings in Kyndryl were worth $2,259,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. FMR LLC raised its position in Kyndryl by 105.5% in the 4th quarter. FMR LLC now owns 12,408,449 shares of the company's stock valued at $429,332,000 after purchasing an additional 6,371,541 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Kyndryl by 123.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,683,060 shares of the company's stock worth $127,434,000 after acquiring an additional 2,033,549 shares during the last quarter. Invesco Ltd. boosted its position in Kyndryl by 39.9% during the 4th quarter. Invesco Ltd. now owns 2,346,142 shares of the company's stock worth $81,177,000 after purchasing an additional 669,097 shares during the period. Mediolanum International Funds Ltd bought a new position in shares of Kyndryl during the fourth quarter worth about $16,856,000. Finally, Trexquant Investment LP raised its stake in Kyndryl by 656.2% during the fourth quarter. Trexquant Investment LP now owns 547,462 shares of the company's stock worth $18,942,000 after acquiring an additional 475,063 shares during the period. 71.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Kyndryl

In other Kyndryl news, 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 sale, the senior vice president now 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Edward Sebold sold 27,500 shares of the firm'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 transaction, the general counsel now owns 132,818 shares of the company's stock, valued at $5,688,594.94. This trade represents a 17.15 % decrease in their position. The disclosure for this sale can be found here. 1.04% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on KD. Oppenheimer upped their target price on Kyndryl from $37.00 to $43.00 and gave the company an "outperform" rating in a report on Tuesday, February 4th. Susquehanna lowered their target price on shares of Kyndryl from $46.00 to $43.00 and set a "positive" rating on the stock in a report on Wednesday.

Kyndryl Stock Up 2.2 %

KD stock traded up $0.67 during trading on Thursday, reaching $31.68. 290,222 shares of the stock were exchanged, compared to its average volume of 2,055,717. Kyndryl Holdings, Inc. has a twelve month low of $19.24 and a twelve month high of $43.61. The firm has a market cap of $7.37 billion, a P/E ratio of 57.58, a price-to-earnings-growth ratio of 10.84 and a beta of 1.91. The firm's 50 day moving average is $33.72 and its 200 day moving average is $33.17. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.55.

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.