Geode Capital Management LLC Increases Stock Position in Kyndryl Holdings, Inc. (NYSE:KD)

Geode Capital Management LLC increased its position in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 1.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,867,873 shares of the company's stock after purchasing an additional 63,997 shares during the period. Geode Capital Management LLC owned approximately 1.67% of Kyndryl worth $88,908,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. ORG Wealth Partners LLC bought a new stake in Kyndryl during the 3rd quarter worth approximately $29,000. UMB Bank n.a. raised its position in Kyndryl by 44.2% in the 3rd quarter. UMB Bank n.a. now owns 1,508 shares of the company's stock valued at $35,000 after buying an additional 462 shares during the last quarter. Headlands Technologies LLC raised its position in Kyndryl by 60.2% in the 2nd quarter. Headlands Technologies LLC now owns 1,475 shares of the company's stock valued at $39,000 after buying an additional 554 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Kyndryl during the 2nd quarter valued at $39,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Kyndryl by 33.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,673 shares of the company's stock worth $44,000 after acquiring an additional 422 shares during the last quarter. Institutional investors and hedge funds own 71.53% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Susquehanna raised their price target on shares of Kyndryl from $33.00 to $40.00 and gave the company a "positive" rating in a research report on Friday, November 22nd. Oppenheimer lifted their target price on shares of Kyndryl from $33.00 to $37.00 and gave the stock an "outperform" rating in a research report on Friday, November 22nd. Finally, Bank of America initiated coverage on Kyndryl in a report on Friday, November 22nd. They issued a "buy" rating and a $40.00 target price for the company. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $34.60.

Kyndryl Stock Performance

Kyndryl stock traded up $0.33 during trading on Friday, hitting $34.51. The stock had a trading volume of 4,354,476 shares, compared to its average volume of 1,768,749. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.65. The stock's 50 day moving average is $29.52 and its two-hundred day moving average is $26.32. Kyndryl Holdings, Inc. has a 1 year low of $19.19 and a 1 year high of $36.43. The stock has a market cap of $8.02 billion, a price-to-earnings ratio of -88.48, a price-to-earnings-growth ratio of 8.62 and a beta of 1.86.

Kyndryl Company 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.