KLP Kapitalforvaltning AS Invests $1.62 Million in Kyndryl Holdings, Inc. (NYSE:KD)

KLP Kapitalforvaltning AS bought a new stake in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 46,800 shares of the company's stock, valued at approximately $1,619,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Millstone Evans Group LLC purchased a new stake in Kyndryl in the 4th quarter valued at about $35,000. Picton Mahoney Asset Management bought a new position in Kyndryl in the fourth quarter worth approximately $38,000. EverSource Wealth Advisors LLC grew its stake in Kyndryl by 35.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company's stock worth $39,000 after purchasing an additional 297 shares in the last quarter. Sandy Spring Bank increased its holdings in Kyndryl by 41.2% during the 4th quarter. Sandy Spring Bank now owns 1,514 shares of the company's stock worth $52,000 after purchasing an additional 442 shares during the period. Finally, Lee Danner & Bass Inc. bought a new stake in Kyndryl during the 4th quarter valued at $60,000. 71.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, General Counsel Edward Sebold sold 27,500 shares of the business's stock in a transaction 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 completion of the sale, the general counsel now owns 132,818 shares of the company's stock, valued at approximately $5,688,594.94. The trade was a 17.15 % 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, 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 transaction of $2,374,456.65. Following the sale, 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 disclosure for this sale can be found here. 1.04% of the stock is owned by company insiders.

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Wall Street Analysts Forecast Growth

KD has been the subject of a number of research reports. Susquehanna upped their price objective on shares of Kyndryl from $40.00 to $46.00 and gave the stock a "positive" rating in a research note on Wednesday, February 5th. Oppenheimer upped their price target on shares of Kyndryl from $37.00 to $43.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 4th.

Kyndryl Stock Up 0.2 %

NYSE KD traded up $0.07 on Monday, hitting $31.39. The stock had a trading volume of 2,383,710 shares, compared to its average volume of 2,000,946. Kyndryl Holdings, Inc. has a 52-week low of $19.24 and a 52-week high of $43.61. The business's fifty day moving average price is $37.67 and its 200 day moving average price is $32.42. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market cap of $7.31 billion, a price-to-earnings ratio of 57.08, a price-to-earnings-growth ratio of 10.84 and a beta of 1.85.

Kyndryl Profile

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.