Stock Traders Purchase Large Volume of Put Options on Kyndryl (NYSE:KD)

Kyndryl Holdings, Inc. (NYSE:KD) was the recipient of unusually large options trading on Monday. Traders purchased 12,165 put options on the stock. This is an increase of approximately 411% compared to the typical daily volume of 2,381 put options.

Insiders Place Their Bets

In other news, General Counsel Edward Sebold sold 27,500 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $42.83, for a total value of $1,177,825.00. Following the sale, the general counsel now directly owns 132,818 shares of the company’s stock, valued at approximately $5,688,594.94. This represents a 17.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Vineet Khurana sold 55,465 shares of Kyndryl stock in a transaction 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 directly owns 43,877 shares of the company’s stock, valued at approximately $1,878,374.37. This trade represents a 55.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.04% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its position in Kyndryl by 105.5% in the fourth quarter. FMR LLC now owns 12,408,449 shares of the company’s stock valued at $429,332,000 after purchasing an additional 6,371,541 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Kyndryl by 123.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,683,060 shares of the company’s stock valued at $127,434,000 after buying an additional 2,033,549 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake in Kyndryl by 62.6% during the third quarter. Westfield Capital Management Co. LP now owns 3,259,082 shares of the company’s stock worth $74,894,000 after acquiring an additional 1,254,208 shares in the last quarter. Deutsche Bank AG grew its stake in shares of Kyndryl by 95.9% in the 4th quarter. Deutsche Bank AG now owns 2,147,009 shares of the company’s stock worth $74,287,000 after buying an additional 1,050,856 shares during the last quarter. Finally, Cinctive Capital Management LP purchased a new stake in shares of Kyndryl in the third quarter worth $20,213,000. 71.53% of the stock is currently owned by hedge funds and other institutional investors.

Kyndryl Price Performance

NYSE:KD traded up $0.84 during mid-day trading on Monday, hitting $35.41. 1,147,458 shares of the stock traded hands, compared to its average volume of 2,333,522. The business’s 50-day moving average price is $38.10 and its 200 day moving average price is $32.04. 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 cap of $8.24 billion, a PE ratio of 64.44, a price-to-earnings-growth ratio of 10.84 and a beta of 1.85. Kyndryl has a 12-month low of $19.24 and a 12-month high of $43.61.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on KD. Susquehanna upped their price objective on Kyndryl from $40.00 to $46.00 and gave the stock a “positive” rating in a research report on Wednesday, February 5th. Oppenheimer increased their price objective 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.

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.