Proficio Capital Partners LLC Acquires Shares of 14,878 Kyndryl Holdings, Inc. (NYSE:KD)

Proficio Capital Partners LLC bought a new position in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 14,878 shares of the company's stock, valued at approximately $515,000.

A number of other institutional investors also recently bought and sold shares of the company. FMR LLC increased its position in shares of Kyndryl by 35.1% during the 3rd quarter. FMR LLC now owns 6,036,908 shares of the company's stock worth $138,728,000 after purchasing an additional 1,569,260 shares during the last quarter. Westfield Capital Management Co. LP increased its holdings in Kyndryl by 62.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 3,259,082 shares of the company's stock valued at $74,894,000 after purchasing an additional 1,254,208 shares during the last quarter. Cinctive Capital Management LP purchased a new stake in Kyndryl in the third quarter valued at approximately $20,213,000. Mediolanum International Funds Ltd acquired a new position in Kyndryl during the fourth quarter worth $16,856,000. Finally, Wexford Capital LP purchased a new position in shares of Kyndryl during the third quarter worth $6,371,000. 71.53% of the stock is owned by hedge funds and other institutional investors.

Kyndryl Stock Down 4.9 %

NYSE KD traded down $1.69 during trading hours on Thursday, hitting $32.38. 12,300,824 shares of the company were exchanged, compared to its average volume of 1,935,777. 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 firm has a market cap of $7.53 billion, a price-to-earnings ratio of 58.86, a PEG ratio of 10.84 and a beta of 1.85. The company has a 50 day moving average of $37.93 and a two-hundred day moving average of $32.23. Kyndryl Holdings, Inc. has a 52-week low of $19.24 and a 52-week high of $43.61.

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Analysts Set New Price Targets

Several research firms recently issued reports on KD. Susquehanna boosted their price objective on Kyndryl from $40.00 to $46.00 and gave the company a "positive" rating in a report on Wednesday, February 5th. Oppenheimer increased their price target on shares of Kyndryl from $37.00 to $43.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 4th.

Insider Activity 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 stock was sold at an average price of $42.83, for a total transaction of $1,177,825.00. Following the transaction, the general counsel now owns 132,818 shares of the company's stock, valued at approximately $5,688,594.94. This trade represents a 17.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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. 1.04% of the stock is owned by corporate 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.