Douglas Lane & Associates LLC Reduces Holdings in Kyndryl Holdings, Inc. (NYSE:KD)

Douglas Lane & Associates LLC lessened its position in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 5.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,018,595 shares of the company's stock after selling 58,672 shares during the quarter. Douglas Lane & Associates LLC owned approximately 0.44% of Kyndryl worth $23,407,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new position in Kyndryl during the first quarter valued at $26,000. ORG Partners LLC lifted its stake in shares of Kyndryl by 622.4% in the first quarter. ORG Partners LLC now owns 1,416 shares of the company's stock worth $31,000 after buying an additional 1,220 shares in the last quarter. Headlands Technologies LLC lifted its stake in shares of Kyndryl by 60.2% in the second quarter. Headlands Technologies LLC now owns 1,475 shares of the company's stock worth $39,000 after buying an additional 554 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Kyndryl in the second quarter worth about $39,000. Finally, Atlas Capital Advisors LLC purchased a new position in shares of Kyndryl in the first quarter worth about $33,000. Institutional investors and hedge funds own 71.53% of the company's stock.

Kyndryl Trading Up 0.9 %

Shares of Kyndryl stock traded up $0.21 on Friday, reaching $24.79. The company had a trading volume of 1,111,302 shares, compared to its average volume of 1,670,238. The firm's 50 day moving average price is $23.24 and its two-hundred day moving average price is $24.16. The firm has a market cap of $5.73 billion, a PE ratio of -30.23, a PEG ratio of 5.42 and a beta of 1.63. Kyndryl Holdings, Inc. has a 52-week low of $13.87 and a 52-week high of $28.60. The company has a debt-to-equity ratio of 2.82, a quick ratio of 1.03 and a current ratio of 1.03.

Kyndryl (NYSE:KD - Get Free Report) last announced its earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.03. Kyndryl had a negative net margin of 1.21% and a negative return on equity of 3.28%. The firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.78 billion. Sell-side analysts predict that Kyndryl Holdings, Inc. will post 0.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Oppenheimer started coverage on shares of Kyndryl in a report on Thursday, June 27th. They issued an "outperform" rating and a $33.00 target price on the stock. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $29.40.

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.