Waterfront Wealth Inc. Lowers Stock Holdings in Kyndryl Holdings, Inc. (NYSE:KD)

Waterfront Wealth Inc. trimmed its position in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 23.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,530 shares of the company's stock after selling 16,745 shares during the period. Waterfront Wealth Inc.'s holdings in Kyndryl were worth $1,887,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its holdings in Kyndryl by 1.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 29,972 shares of the company's stock valued at $1,037,000 after acquiring an additional 312 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in Kyndryl by 0.6% in the 4th quarter. Louisiana State Employees Retirement System now owns 64,500 shares of the company's stock valued at $2,232,000 after acquiring an additional 400 shares during the last quarter. UMB Bank n.a. increased its holdings in Kyndryl by 27.1% in the 4th quarter. UMB Bank n.a. now owns 1,916 shares of the company's stock valued at $66,000 after acquiring an additional 408 shares during the last quarter. Fifth Third Bancorp increased its holdings in Kyndryl by 27.5% in the 4th quarter. Fifth Third Bancorp now owns 2,299 shares of the company's stock valued at $80,000 after acquiring an additional 496 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in Kyndryl by 24.0% in the 4th quarter. GAMMA Investing LLC now owns 2,999 shares of the company's stock valued at $104,000 after acquiring an additional 580 shares during the last quarter. 71.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on KD shares. Susquehanna lifted their price objective on shares of Kyndryl from $40.00 to $46.00 and gave the stock a "positive" rating in a research note on Wednesday, February 5th. Bank of America started 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. Finally, Oppenheimer lifted their price objective on shares of Kyndryl from $37.00 to $43.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 4th.

Kyndryl Trading Down 3.4 %

Shares of KD stock traded down $1.35 during trading hours on Friday, reaching $38.39. 1,813,886 shares of the stock were exchanged, compared to its average volume of 2,271,546. Kyndryl Holdings, Inc. has a 12-month low of $19.24 and a 12-month high of $43.61. 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 company's 50-day moving average price is $38.05 and its 200-day moving average price is $30.16. The firm has a market capitalization of $8.93 billion, a price-to-earnings ratio of 69.80, a price-to-earnings-growth ratio of 10.84 and a beta of 1.86.

Insider Buying and Selling

In related news, General Counsel Edward Sebold sold 27,500 shares of Kyndryl 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 transaction, the general counsel now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Vineet Khurana sold 55,465 shares of Kyndryl stock in a transaction dated 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 transaction, the senior vice president now directly 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 disclosure for this sale can be found here. 1.04% of the stock is owned by corporate insiders.

Kyndryl 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.