SBI Securities Co. Ltd. Purchases New Position in Kyndryl Holdings, Inc. (NYSE:KD)

SBI Securities Co. Ltd. purchased a new stake in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,945 shares of the company's stock, valued at approximately $379,000.

Several other hedge funds have also made changes to their positions in the company. UMB Bank n.a. boosted its position in Kyndryl by 27.1% during the 4th quarter. UMB Bank n.a. now owns 1,916 shares of the company's stock worth $66,000 after acquiring an additional 408 shares during the period. Fifth Third Bancorp lifted its position in shares of Kyndryl by 27.5% in the fourth quarter. Fifth Third Bancorp now owns 2,299 shares of the company's stock worth $80,000 after purchasing an additional 496 shares in the last quarter. IFP Advisors Inc boosted its holdings in shares of Kyndryl by 56.4% during the fourth quarter. IFP Advisors Inc now owns 2,457 shares of the company's stock worth $85,000 after purchasing an additional 886 shares during the period. GAMMA Investing LLC grew its position in Kyndryl by 24.0% during the fourth quarter. GAMMA Investing LLC now owns 2,999 shares of the company's stock valued at $104,000 after purchasing an additional 580 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in Kyndryl by 983.3% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,109 shares of the company's stock valued at $108,000 after buying an additional 2,822 shares during the period. Hedge funds and other institutional investors own 71.53% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Susquehanna upped their target price on Kyndryl from $40.00 to $46.00 and gave the stock a "positive" rating in a research report on Wednesday, February 5th. Oppenheimer lifted their target price on shares of Kyndryl from $37.00 to $43.00 and gave the company an "outperform" rating in a research note on Tuesday, February 4th. Finally, Bank of America initiated coverage on shares of Kyndryl in a report on Friday, November 22nd. They set a "buy" rating and a $40.00 price target on the stock.

Remove Ads

Kyndryl Stock Performance

NYSE:KD traded up $0.04 during mid-day trading on Friday, hitting $35.49. 1,931,693 shares of the company's stock traded hands, compared to its average volume of 1,854,611. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.55. The firm has a 50 day moving average of $38.50 and a two-hundred day moving average of $31.16. The firm has a market capitalization of $8.26 billion, a price-to-earnings ratio of 64.53, a price-to-earnings-growth ratio of 10.84 and a beta of 1.85. Kyndryl Holdings, Inc. has a 12 month low of $19.24 and a 12 month high of $43.61.

Insider Activity

In other news, 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 transaction of $2,374,456.65. Following the completion of the transaction, the senior vice president now owns 43,877 shares of the company's stock, valued at approximately $1,878,374.37. This represents a 55.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Edward Sebold sold 27,500 shares of the 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 owns 132,818 shares of the company's stock, valued at approximately $5,688,594.94. The trade was a 17.15 % decrease in their position. The disclosure for this sale can be found here. 1.04% of the stock is owned by company insiders.

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.