Arrowstreet Capital Limited Partnership Purchases 2,033,549 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Arrowstreet Capital Limited Partnership lifted its position in Kyndryl Holdings, Inc. (NYSE:KD) by 123.3% during the 4th quarter, HoldingsChannel reports. The firm owned 3,683,060 shares of the company’s stock after buying an additional 2,033,549 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Kyndryl were worth $127,434,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake 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 worth $45,229,000 after acquiring an additional 76,670 shares during the last quarter. Cerity Partners LLC grew its holdings in shares of Kyndryl by 151.3% during the third quarter. Cerity Partners LLC now owns 32,187 shares of the company’s stock worth $740,000 after purchasing an additional 19,377 shares in the last quarter. FMR LLC increased its position in shares of 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Kyndryl by 2.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,167 shares of the company’s stock valued at $1,199,000 after purchasing an additional 1,078 shares in the last quarter. Finally, Captrust Financial Advisors lifted its position in Kyndryl by 8.4% during the third quarter. Captrust Financial Advisors now owns 14,123 shares of the company’s stock valued at $325,000 after purchasing an additional 1,092 shares during the last quarter. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Kyndryl Trading Down 3.0 %

Shares of KD opened at $31.36 on Monday. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.09 and a current ratio of 1.09. Kyndryl Holdings, Inc. has a fifty-two week low of $19.24 and a fifty-two week high of $43.61. The firm has a 50 day moving average price of $37.67 and a 200-day moving average price of $32.42. The firm has a market cap of $7.30 billion, a price-to-earnings ratio of 57.01, a PEG ratio of 10.84 and a beta of 1.85.

Wall Street Analyst Weigh In

KD has been the topic of several research reports. Oppenheimer raised their price objective on shares of Kyndryl from $37.00 to $43.00 and gave the company an “outperform” rating in a research report on Tuesday, February 4th. Susquehanna raised their price target on Kyndryl from $40.00 to $46.00 and gave the company a “positive” rating in a research report on Wednesday, February 5th.

Insider Buying and Selling at Kyndryl

In other Kyndryl news, SVP Vineet Khurana sold 55,465 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the senior vice president now owns 43,877 shares in the company, valued at approximately $1,878,374.37. The trade was 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 firm’s stock in a transaction that occurred 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 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.

About Kyndryl

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.