Kyndryl Holdings, Inc. (NYSE:KD) Short Interest Up 29.7% in March

Kyndryl Holdings, Inc. (NYSE:KD - Get Free Report) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 11,140,000 shares, an increase of 29.7% from the March 15th total of 8,590,000 shares. Based on an average trading volume of 2,570,000 shares, the days-to-cover ratio is presently 4.3 days. Approximately 4.9% of the shares of the company are short sold.

Insider Buying and Selling at Kyndryl

In other Kyndryl news, General Counsel Edward Sebold sold 27,500 shares of the company's stock in a transaction that occurred 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 sale, the general counsel now 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 filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Vineet Khurana sold 55,465 shares of Kyndryl stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $42.81, for a total value of $2,374,456.65. Following the transaction, the senior vice president now owns 43,877 shares of the company's stock, valued at $1,878,374.37. This represents a 55.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.04% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Opal Wealth Advisors LLC acquired a new stake in Kyndryl during the first quarter worth approximately $27,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Kyndryl during the 4th quarter worth $30,000. True Wealth Design LLC increased its position in shares of Kyndryl by 150.6% in the fourth quarter. True Wealth Design LLC now owns 872 shares of the company's stock worth $30,000 after purchasing an additional 524 shares during the period. Versant Capital Management Inc raised its stake in Kyndryl by 1,143.0% in the first quarter. Versant Capital Management Inc now owns 1,069 shares of the company's stock valued at $34,000 after purchasing an additional 983 shares in the last quarter. Finally, Millstone Evans Group LLC bought a new stake in Kyndryl during the fourth quarter worth about $35,000. 71.53% of the stock is owned by institutional investors.

Kyndryl Stock Performance

Shares of KD stock traded up $0.59 on Thursday, hitting $31.60. The company's stock had a trading volume of 121,280 shares, compared to its average volume of 2,471,387. Kyndryl has a fifty-two week low of $19.24 and a fifty-two week high of $43.61. The company has a market capitalization of $7.35 billion, a PE ratio of 57.32, a PEG ratio of 10.84 and a beta of 1.91. The stock's 50 day moving average is $33.72 and its 200-day moving average is $33.17. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.09 and a current ratio of 1.09.

Analyst Ratings Changes

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

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.