JPMorgan Chase & Co. Purchases 81,148 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

JPMorgan Chase & Co. boosted its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 17.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 533,265 shares of the company's stock after acquiring an additional 81,148 shares during the period. JPMorgan Chase & Co. owned 0.23% of Kyndryl worth $18,451,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Kyndryl by 545.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 23,113 shares of the company's stock valued at $861,000 after acquiring an additional 19,531 shares during the last quarter. Financial Counselors Inc. acquired a new stake in shares of Kyndryl in the 4th quarter worth about $324,000. TIAA Trust National Association bought a new position in shares of Kyndryl in the fourth quarter valued at approximately $231,000. Prudential Financial Inc. boosted its holdings in Kyndryl by 77.8% during the 4th quarter. Prudential Financial Inc. now owns 515,413 shares of the company's stock worth $17,833,000 after acquiring an additional 225,463 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Kyndryl by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 27,873,819 shares of the company's stock worth $964,434,000 after purchasing an additional 79,575 shares in the last quarter. Institutional investors and hedge funds own 71.53% of the company's stock.

Wall Street Analysts Forecast Growth

KD has been the topic of several research reports. Susquehanna boosted 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. Oppenheimer upped their price objective 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.

Insiders Place Their Bets

In other news, SVP Vineet Khurana sold 55,465 shares of the business's stock in a transaction on Thursday, February 6th. The shares were 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 approximately $1,878,374.37. The trade was a 55.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Edward Sebold sold 27,500 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $42.83, for a total transaction of $1,177,825.00. Following the transaction, the general counsel now directly 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 currently owned by insiders.

Kyndryl Stock Down 2.3 %

Shares of KD traded down $0.69 during trading hours on Thursday, hitting $29.16. The company had a trading volume of 303,252 shares, compared to its average volume of 2,043,104. The firm has a fifty day moving average price of $34.87 and a 200-day moving average price of $32.94. Kyndryl Holdings, Inc. has a 52-week low of $19.24 and a 52-week 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 stock has a market capitalization of $6.79 billion, a price-to-earnings ratio of 53.20, a P/E/G ratio of 10.84 and a beta of 1.91.

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.