Kyndryl (NYSE:KD) Shares Gap Down – What’s Next?

Shares of Kyndryl Holdings, Inc. (NYSE:KD) gapped down prior to trading on Thursday . The stock had previously closed at $34.06, but opened at $30.88. Kyndryl shares last traded at $30.46, with a volume of 2,177,572 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have issued reports on KD. Susquehanna raised their price target on shares of Kyndryl from $40.00 to $46.00 and gave the stock a “positive” rating in a report on Wednesday, February 5th. Oppenheimer lifted their target price 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.

Kyndryl Stock Down 12.4 %

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 firm has a 50 day moving average of $37.93 and a 200 day moving average of $32.23. The firm has a market cap of $6.94 billion, a price-to-earnings ratio of 54.25, a PEG ratio of 10.84 and a beta of 1.85.

Insider Activity

In other Kyndryl news, General Counsel Edward Sebold sold 27,500 shares of the business’s stock in a transaction 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 completion of the sale, the general counsel now owns 132,818 shares in the company, valued at approximately $5,688,594.94. The trade was a 17.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Vineet Khurana sold 55,465 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now directly 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 ownership of the stock. The disclosure for this sale can be found here. 1.04% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its holdings in shares of Kyndryl by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,968,175 shares of the company’s stock valued at $45,229,000 after purchasing an additional 76,670 shares during the last quarter. Cerity Partners LLC increased its stake in Kyndryl by 151.3% in the 3rd quarter. Cerity Partners LLC now owns 32,187 shares of the company’s stock valued at $740,000 after buying an additional 19,377 shares during the last quarter. FMR LLC lifted its position in shares of Kyndryl by 35.1% during the 3rd quarter. FMR LLC now owns 6,036,908 shares of the company’s stock worth $138,728,000 after buying an additional 1,569,260 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Kyndryl during the 3rd quarter worth approximately $1,910,000. Finally, Bridgewater Associates LP boosted its stake in shares of Kyndryl by 37.7% in the 3rd quarter. Bridgewater Associates LP now owns 169,066 shares of the company’s stock worth $3,885,000 after buying an additional 46,326 shares during the last quarter. Hedge funds and other institutional investors own 71.53% 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.