Kyndryl (NYSE:KD) Trading Down 4.2% – What’s Next?

Shares of Kyndryl Holdings, Inc. (NYSE:KD) fell 4.2% during mid-day trading on Thursday . The stock traded as low as $38.92 and last traded at $39.11. 694,638 shares changed hands during trading, a decline of 71% from the average session volume of 2,375,774 shares. The stock had previously closed at $40.84.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on KD shares. Oppenheimer boosted their price objective on shares of Kyndryl from $37.00 to $43.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 4th. Bank of America started coverage on Kyndryl in a research report on Friday, November 22nd. They issued a “buy” rating and a $40.00 price target on the stock. Finally, Susquehanna raised 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.

Kyndryl Stock Performance

The stock has a market capitalization of $9.21 billion, a P/E ratio of 71.96, a price-to-earnings-growth ratio of 12.31 and a beta of 1.86. 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 company has a 50-day moving average price of $37.91 and a two-hundred day moving average price of $29.99.

Insider Buying and Selling at Kyndryl

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

Institutional Investors Weigh In On Kyndryl

A number of hedge funds have recently modified their holdings of KD. Castlekeep Investment Advisors LLC purchased a new stake in Kyndryl in the fourth quarter worth $249,000. Neo Ivy Capital Management purchased a new stake in Kyndryl during the fourth quarter valued at about $3,087,000. Gordian Capital Singapore Pte Ltd bought a new position in Kyndryl during the fourth quarter worth about $345,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Kyndryl by 17.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 721,891 shares of the company’s stock valued at $24,977,000 after buying an additional 108,198 shares in the last quarter. Finally, Vident Advisory LLC boosted its holdings in Kyndryl by 26.5% in the 4th quarter. Vident Advisory LLC now owns 165,693 shares of the company’s stock worth $5,733,000 after buying an additional 34,680 shares during the period. Institutional investors own 71.53% 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.