Kyndryl (NYSE:KD) Stock Price Down 4.2% - What's Next?

Kyndryl Holdings, Inc. (NYSE:KD - Get Free Report) traded down 4.2% on Thursday . The stock traded as low as $38.92 and last traded at $39.11. 694,638 shares were traded during trading, a decline of 71% from the average session volume of 2,375,774 shares. The stock had previously closed at $40.84.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on KD. Bank of America began 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. Susquehanna boosted their price target on shares of Kyndryl from $40.00 to $46.00 and gave the company a "positive" rating in a report on Wednesday, February 5th. Finally, Oppenheimer increased their target price on Kyndryl from $37.00 to $43.00 and gave the stock an "outperform" rating in a report on Tuesday, February 4th.

Kyndryl Stock Performance

The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market cap of $8.93 billion, a P/E ratio of 69.80, a PEG ratio of 10.84 and a beta of 1.86. The stock's 50-day moving average is $38.05 and its 200 day moving average is $30.16.

Insider Buying and Selling at Kyndryl

In other news, SVP Vineet Khurana sold 55,465 shares of the firm's 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 transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Edward Sebold sold 27,500 shares of the company's stock in a transaction 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 sale, the general counsel now 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 disclosure for this sale can be found here. Company insiders own 1.04% of the company's stock.

Institutional Trading of Kyndryl

Hedge funds have recently made changes to their positions in the company. Bessemer Group Inc. grew its stake in shares of Kyndryl by 9.4% in the 4th quarter. Bessemer Group Inc. now owns 2,881 shares of the company's stock valued at $99,000 after buying an additional 247 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of 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 buying an additional 297 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in Kyndryl by 1.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 29,972 shares of the company's stock valued at $1,037,000 after purchasing an additional 312 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Kyndryl by 0.7% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 51,298 shares of the company's stock valued at $1,775,000 after buying an additional 332 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its stake in Kyndryl by 19.6% in the 4th quarter. Brown Brothers Harriman & Co. now owns 2,259 shares of the company's stock worth $78,000 after purchasing an additional 370 shares during the period. 71.53% of the stock is owned by institutional investors and hedge funds.

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.