413,948 Shares in Kyndryl Holdings, Inc. (NYSE:KD) Acquired by Norges Bank

Norges Bank bought a new position in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 413,948 shares of the company's stock, valued at approximately $14,323,000. Norges Bank owned 0.18% of Kyndryl at the end of the most recent quarter.

Several other large investors also recently modified their holdings of KD. Loomis Sayles & Co. L P bought a new stake in Kyndryl in the fourth quarter valued at $13,133,000. JPMorgan Chase & Co. lifted its position in shares of Kyndryl by 17.9% in the 4th quarter. JPMorgan Chase & Co. now owns 533,265 shares of the company's stock worth $18,451,000 after purchasing an additional 81,148 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Kyndryl by 545.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 23,113 shares of the company's stock valued at $861,000 after purchasing an additional 19,531 shares in the last quarter. Financial Counselors Inc. purchased a new position in shares of Kyndryl during the fourth quarter valued at about $324,000. Finally, TIAA Trust National Association bought a new position in Kyndryl in the fourth quarter worth about $231,000. 71.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

KD has been the topic of several research reports. Susquehanna lifted their price objective on Kyndryl from $40.00 to $46.00 and gave the company a "positive" rating in a research report on Wednesday, February 5th. Oppenheimer upped their price target on Kyndryl from $37.00 to $43.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 4th.

Kyndryl Stock Up 1.1 %

Shares of KD stock traded up $0.33 during trading hours on Friday, hitting $29.42. 1,373,761 shares of the company's stock traded hands, compared to its average volume of 2,048,557. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.55. The stock has a market cap of $6.85 billion, a price-to-earnings ratio of 53.49, a PEG ratio of 10.84 and a beta of 1.91. The stock's fifty day simple moving average is $35.63 and its two-hundred day simple moving average is $32.86. Kyndryl Holdings, Inc. has a 12-month low of $19.24 and a 12-month high of $43.61.

Insider Buying and Selling at Kyndryl

In other Kyndryl news, General Counsel Edward Sebold sold 27,500 shares of the firm's stock in a transaction dated 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 completion of the sale, the general counsel now directly owns 132,818 shares in the company, valued at approximately $5,688,594.94. This trade represents a 17.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Vineet Khurana sold 55,465 shares of the company's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $42.81, for a total transaction of $2,374,456.65. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. 1.04% of the stock is owned by company insiders.

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.