Kyndryl Holdings, Inc. (NYSE:KD) Shares Bought by Sandy Spring Bank

Sandy Spring Bank boosted its holdings in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 41.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,514 shares of the company’s stock after buying an additional 442 shares during the quarter. Sandy Spring Bank’s holdings in Kyndryl were worth $52,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management acquired a new position in Kyndryl during the 4th quarter valued at about $38,000. EverSource Wealth Advisors LLC grew its stake in Kyndryl by 35.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock valued at $39,000 after purchasing an additional 297 shares during the last quarter. AlphaQuest LLC grew its stake in Kyndryl by 147.3% during the 4th quarter. AlphaQuest LLC now owns 1,877 shares of the company’s stock valued at $65,000 after purchasing an additional 1,118 shares during the last quarter. UMB Bank n.a. grew its stake in Kyndryl by 27.1% during the 4th quarter. UMB Bank n.a. now owns 1,916 shares of the company’s stock valued at $66,000 after purchasing an additional 408 shares during the last quarter. Finally, Fifth Third Bancorp grew its stake in Kyndryl by 27.5% during the 4th quarter. Fifth Third Bancorp now owns 2,299 shares of the company’s stock valued at $80,000 after purchasing an additional 496 shares during the last quarter. 71.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on KD shares. Oppenheimer boosted their price target on Kyndryl from $37.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday, February 4th. Susquehanna boosted their price target on Kyndryl from $40.00 to $46.00 and gave the company a “positive” rating in a research note on Wednesday, February 5th.

Kyndryl Stock Up 1.0 %

Shares of KD opened at $34.57 on Friday. Kyndryl Holdings, Inc. has a 52 week low of $19.24 and a 52 week high of $43.61. 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 company has a market capitalization of $8.04 billion, a price-to-earnings ratio of 62.85, a PEG ratio of 10.84 and a beta of 1.85. The stock’s 50-day moving average price is $38.10 and its 200-day moving average price is $31.98.

Insider Transactions at Kyndryl

In other Kyndryl news, SVP Vineet Khurana sold 55,465 shares of the stock in a transaction that occurred on 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 owns 43,877 shares in the company, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Edward Sebold sold 27,500 shares of the stock in a transaction that occurred on 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 transaction, the general counsel now owns 132,818 shares in the company, valued at $5,688,594.94. This represents a 17.15 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.04% of the company’s stock.

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.