Phocas Financial Corp. Trims Stake in Kyndryl Holdings, Inc. (NYSE:KD)

Phocas Financial Corp. cut its stake in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 85.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,406 shares of the company's stock after selling 319,354 shares during the quarter. Kyndryl accounts for about 1.5% of Phocas Financial Corp.'s investment portfolio, making the stock its 8th largest holding. Phocas Financial Corp.'s holdings in Kyndryl were worth $1,952,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in KD. Creative Planning boosted its holdings in shares of Kyndryl by 3.3% in the third quarter. Creative Planning now owns 42,999 shares of the company's stock worth $988,000 after buying an additional 1,384 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Kyndryl by 34.9% in the third quarter. Blue Trust Inc. now owns 4,334 shares of the company's stock worth $100,000 after buying an additional 1,122 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Kyndryl by 2,035.3% in the third quarter. International Assets Investment Management LLC now owns 40,100 shares of the company's stock worth $921,000 after buying an additional 38,222 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Kyndryl by 19.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 29,660 shares of the company's stock worth $682,000 after buying an additional 4,750 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in shares of Kyndryl by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 26,787 shares of the company's stock worth $615,000 after buying an additional 1,820 shares during the last quarter. 71.53% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on KD shares. Susquehanna raised their price objective on shares of Kyndryl from $40.00 to $46.00 and gave the stock a "positive" rating in a report on Wednesday, February 5th. Oppenheimer raised their price objective on shares of Kyndryl from $37.00 to $43.00 and gave the stock an "outperform" rating in a report on Tuesday, February 4th. Finally, Bank of America began coverage on shares of Kyndryl in a report on Friday, November 22nd. They set a "buy" rating and a $40.00 price target on the stock.

Kyndryl Price Performance

NYSE:KD traded up $0.34 during trading hours on Friday, hitting $38.07. 2,991,751 shares of the stock traded hands, compared to its average volume of 2,364,650. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.55. Kyndryl Holdings, Inc. has a 1 year low of $19.24 and a 1 year high of $43.61. The company has a market cap of $8.86 billion, a price-to-earnings ratio of 69.22, a price-to-earnings-growth ratio of 10.84 and a beta of 1.86. The stock has a 50 day moving average price of $38.34 and a 200 day moving average price of $30.70.

Insider Buying and Selling at Kyndryl

In other news, SVP Vineet Khurana sold 55,465 shares of Kyndryl stock in a transaction that occurred 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 sale, the senior vice president now owns 43,877 shares in the company, valued at $1,878,374.37. This trade represents a 55.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Edward Sebold sold 27,500 shares of Kyndryl stock in a transaction that occurred on 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 sale, the general counsel now 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 disclosure for this sale can be found here. Insiders own 1.04% of the company's stock.

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.