Great Lakes Advisors LLC Sells 463,372 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Great Lakes Advisors LLC lowered its position in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 98.1% in the fourth quarter, HoldingsChannel reports. The firm owned 9,005 shares of the company’s stock after selling 463,372 shares during the period. Great Lakes Advisors LLC’s holdings in Kyndryl were worth $312,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in Kyndryl by 35.1% in the third 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 in the last quarter. Geode Capital Management LLC raised its holdings in shares of Kyndryl by 1.7% in the third quarter. Geode Capital Management LLC now owns 3,867,873 shares of the company’s stock valued at $88,908,000 after buying an additional 63,997 shares during the last quarter. Westfield Capital Management Co. LP lifted its position in Kyndryl by 62.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 3,259,082 shares of the company’s stock worth $74,894,000 after buying an additional 1,254,208 shares in the last quarter. Zimmer Partners LP grew its holdings in Kyndryl by 1.9% during the 3rd quarter. Zimmer Partners LP now owns 2,723,895 shares of the company’s stock worth $62,595,000 after acquiring an additional 49,738 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Kyndryl by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,968,175 shares of the company’s stock valued at $45,229,000 after acquiring an additional 76,670 shares in the last quarter. 71.53% of the stock is owned by institutional investors.

Insider Activity at Kyndryl

In related news, General Counsel Edward Sebold sold 27,500 shares of the company’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $42.83, for a total value of $1,177,825.00. Following the completion of the sale, the general counsel now owns 132,818 shares in the company, valued at approximately $5,688,594.94. This represents a 17.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Vineet Khurana sold 55,465 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $42.81, for a total value of $2,374,456.65. Following the transaction, the senior vice president now owns 43,877 shares in the company, valued at approximately $1,878,374.37. This trade represents a 55.83 % decrease in their position. The disclosure for this sale can be found here. 1.04% of the stock is currently owned by company insiders.

Kyndryl Stock Up 4.5 %

Shares of NYSE KD opened at $35.26 on Monday. Kyndryl Holdings, Inc. has a 1 year low of $19.24 and a 1 year high of $43.61. The firm’s 50-day moving average is $38.39 and its 200-day moving average is $31.64. 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 market capitalization of $8.20 billion, a PE ratio of 64.10, a price-to-earnings-growth ratio of 10.84 and a beta of 1.85.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on KD shares. Oppenheimer upped their target price 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. Bank of America started coverage on Kyndryl in a report on Friday, November 22nd. They set a “buy” rating and a $40.00 price objective on the stock. Finally, Susquehanna lifted their target price on Kyndryl from $40.00 to $46.00 and gave the company a “positive” rating in a research note on Wednesday, February 5th.

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.