Kyndryl (NYSE:KD) Trading Down 1.6% – What’s Next?

Kyndryl Holdings, Inc. (NYSE:KD)’s stock price fell 1.6% during trading on Wednesday . The stock traded as low as $40.95 and last traded at $41.20. 459,353 shares were traded during mid-day trading, a decline of 81% from the average session volume of 2,383,648 shares. The stock had previously closed at $41.87.

Analyst Ratings Changes

KD has been the subject of several analyst reports. Susquehanna raised their price target on shares of Kyndryl from $40.00 to $46.00 and gave the company a “positive” rating in a research note on Wednesday, February 5th. Oppenheimer raised their price target 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 research note on Friday, November 22nd. They set a “buy” rating and a $40.00 price target for the company.

Kyndryl Stock Performance

The company has a debt-to-equity ratio of 2.55, a current ratio of 1.09 and a quick ratio of 1.09. The company’s 50-day moving average price is $37.67 and its two-hundred day moving average price is $29.78. The company has a market capitalization of $9.56 billion, a price-to-earnings ratio of 74.79, a PEG ratio of 12.29 and a beta of 1.86.

Insiders Place Their Bets

In other Kyndryl news, SVP Vineet Khurana sold 55,465 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $1,878,374.37. This trade represents a 55.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Edward Sebold sold 27,500 shares of the firm’s stock in a transaction on 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 completion of the sale, the general counsel now owns 132,818 shares of the company’s stock, valued at $5,688,594.94. The trade was a 17.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.04% of the company’s stock.

Institutional Trading of Kyndryl

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. True Wealth Design LLC grew its holdings in Kyndryl by 150.6% during the fourth quarter. True Wealth Design LLC now owns 872 shares of the company’s stock worth $30,000 after buying an additional 524 shares in the last quarter. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Kyndryl during the fourth quarter valued at about $30,000. Millstone Evans Group LLC purchased a new position in Kyndryl during the fourth quarter worth about $35,000. Picton Mahoney Asset Management bought a new stake in Kyndryl in the 4th quarter worth about $38,000. Finally, EverSource Wealth Advisors LLC increased its stake in Kyndryl by 35.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock valued at $39,000 after buying an additional 297 shares during the last quarter. 71.53% of the stock is owned by institutional investors.

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.