Kyndryl (NYSE:KD) Shares Gap Down - Here's What Happened

Kyndryl Holdings, Inc. (NYSE:KD - Get Free Report)'s stock price gapped down prior to trading on Thursday . The stock had previously closed at $34.06, but opened at $30.88. Kyndryl shares last traded at $30.46, with a volume of 2,177,572 shares.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Oppenheimer lifted their price objective on Kyndryl from $37.00 to $43.00 and gave the company an "outperform" rating in a report on Tuesday, February 4th. Susquehanna boosted their price target on Kyndryl from $40.00 to $46.00 and gave the company a "positive" rating in a research note on Wednesday, February 5th.

Kyndryl Stock Down 0.3 %

The firm has a fifty day moving average price of $37.67 and a 200 day moving average price of $32.42. The company has a market cap of $7.27 billion, a P/E ratio of 56.79, a PEG ratio of 10.84 and a beta of 1.85. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.55.

Insider Buying and Selling at Kyndryl

In related news, General Counsel Edward Sebold sold 27,500 shares of Kyndryl stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $42.83, for a total transaction 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 $5,688,594.94. The trade was a 17.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Vineet Khurana sold 55,465 shares of the company's stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 43,877 shares of the company's stock, valued at approximately $1,878,374.37. This trade represents a 55.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.04% of the company's stock.

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Hedge Funds Weigh In On Kyndryl

Institutional investors have recently modified their holdings of the business. FMR LLC boosted its position in shares of Kyndryl by 105.5% during the fourth quarter. FMR LLC now owns 12,408,449 shares of the company's stock worth $429,332,000 after buying an additional 6,371,541 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Kyndryl by 123.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,683,060 shares of the company's stock valued at $127,434,000 after purchasing an additional 2,033,549 shares during the last quarter. Deutsche Bank AG lifted its position in shares of Kyndryl by 95.9% in the fourth quarter. Deutsche Bank AG now owns 2,147,009 shares of the company's stock worth $74,287,000 after purchasing an additional 1,050,856 shares in the last quarter. Cinctive Capital Management LP acquired a new position in Kyndryl during the third quarter worth $20,213,000. Finally, D. E. Shaw & Co. Inc. grew its position in Kyndryl by 180.3% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,331,851 shares of the company's stock valued at $46,082,000 after purchasing an additional 856,629 shares in the last quarter. Institutional investors own 71.53% of the company's stock.

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.