Prudential Financial Inc. Purchases 225,463 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Prudential Financial Inc. boosted its position in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 77.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 515,413 shares of the company's stock after purchasing an additional 225,463 shares during the period. Prudential Financial Inc. owned 0.22% of Kyndryl worth $17,833,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Millstone Evans Group LLC acquired a new stake in shares of Kyndryl during the 4th quarter valued at about $35,000. Picton Mahoney Asset Management bought a new position in Kyndryl during the fourth quarter valued at approximately $38,000. EverSource Wealth Advisors LLC lifted 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 valued at $39,000 after acquiring an additional 297 shares during the last quarter. Sandy Spring Bank grew its position in Kyndryl by 41.2% in the fourth quarter. Sandy Spring Bank now owns 1,514 shares of the company's stock worth $52,000 after acquiring an additional 442 shares in the last quarter. Finally, Lee Danner & Bass Inc. bought a new stake in Kyndryl in the fourth quarter worth approximately $60,000. Hedge funds and other institutional investors own 71.53% of the company's stock.

Kyndryl Stock Performance

NYSE:KD traded up $0.76 during midday trading on Tuesday, reaching $32.16. The stock had a trading volume of 2,312,364 shares, compared to its average volume of 2,005,297. The stock has a market capitalization of $7.48 billion, a P/E ratio of 58.47, a PEG ratio of 10.84 and a beta of 1.85. Kyndryl Holdings, Inc. has a 1-year low of $19.24 and a 1-year high of $43.61. 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 firm's fifty day simple moving average is $37.40 and its 200-day simple moving average is $32.55.

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Insider Activity

In other news, General Counsel Edward Sebold sold 27,500 shares of the 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 completion of the sale, the general counsel now directly owns 132,818 shares of the company's stock, valued at approximately $5,688,594.94. This represents a 17.15 % decrease in their ownership of the stock. The transaction 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 business'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 transaction, the senior vice president now directly owns 43,877 shares in the company, valued at $1,878,374.37. This trade represents a 55.83 % decrease in their position. The disclosure for this sale can be found here. 1.04% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on KD. Oppenheimer lifted their price objective 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 boosted their price target on Kyndryl from $40.00 to $46.00 and gave the stock a "positive" rating in a research report 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.