Short Interest in Kyndryl Holdings, Inc. (NYSE:KD) Drops By 19.0%

Kyndryl Holdings, Inc. (NYSE:KD - Get Free Report) saw a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 7,070,000 shares, a decline of 19.0% from the January 15th total of 8,730,000 shares. Approximately 3.1% of the shares of the stock are sold short. Based on an average trading volume of 2,470,000 shares, the short-interest ratio is presently 2.9 days.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Bank of America assumed coverage on shares of Kyndryl in a research note on Friday, November 22nd. They issued a "buy" rating and a $40.00 price objective for the company. Oppenheimer lifted their price target on shares of Kyndryl from $37.00 to $43.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 4th. Finally, Susquehanna lifted their price target 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.

Kyndryl Trading Down 2.7 %

Shares of KD stock traded down $1.08 during trading hours on Thursday, reaching $39.76. 1,824,906 shares of the stock were exchanged, compared to its average volume of 2,414,543. The firm has a market capitalization of $9.25 billion, a price-to-earnings ratio of 72.29, a price-to-earnings-growth ratio of 12.31 and a beta of 1.86. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.55. Kyndryl has a 12-month low of $19.24 and a 12-month high of $43.61. The company's 50-day moving average price is $37.99 and its 200-day moving average price is $30.06.

Insider Buying and Selling at Kyndryl

In other Kyndryl news, General Counsel Edward Sebold sold 27,500 shares of Kyndryl 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 sale, the general counsel now directly owns 132,818 shares in the company, 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 SEC, which is accessible through this link. Also, SVP Vineet Khurana sold 55,465 shares of Kyndryl stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $42.81, for a total transaction of $2,374,456.65. Following the completion of the sale, the senior vice president now owns 43,877 shares in the company, valued at approximately $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. 1.04% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Kyndryl

Several large investors have recently added to or reduced their stakes in KD. FMR LLC boosted its position in Kyndryl by 105.5% in the 4th quarter. FMR LLC now owns 12,408,449 shares of the company's stock valued at $429,332,000 after buying an additional 6,371,541 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in Kyndryl by 123.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,683,060 shares of the company's stock valued at $127,434,000 after buying an additional 2,033,549 shares during the period. Westfield Capital Management Co. LP boosted its position in Kyndryl by 62.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 3,259,082 shares of the company's stock valued at $74,894,000 after buying an additional 1,254,208 shares during the period. Deutsche Bank AG boosted its position in Kyndryl by 95.9% in the 4th quarter. Deutsche Bank AG now owns 2,147,009 shares of the company's stock valued at $74,287,000 after buying an additional 1,050,856 shares during the period. Finally, Cinctive Capital Management LP bought a new stake in shares of Kyndryl in the 3rd quarter valued at about $20,213,000. 71.53% of the stock is owned by hedge funds and other institutional investors.

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.