TIAA Trust National Association Invests $231,000 in Kyndryl Holdings, Inc. (NYSE:KD)

TIAA Trust National Association acquired a new stake in Kyndryl Holdings, Inc. (NYSE:KD) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,675 shares of the company’s stock, valued at approximately $231,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Prudential Financial Inc. boosted its stake in Kyndryl by 77.8% during the fourth quarter. Prudential Financial Inc. now owns 515,413 shares of the company’s stock worth $17,833,000 after buying an additional 225,463 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Kyndryl by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 27,873,819 shares of the company’s stock worth $964,434,000 after acquiring an additional 79,575 shares during the last quarter. LPL Financial LLC boosted its position in shares of Kyndryl by 22.4% during the 4th quarter. LPL Financial LLC now owns 99,506 shares of the company’s stock worth $3,443,000 after purchasing an additional 18,198 shares during the period. Fox Run Management L.L.C. acquired a new stake in Kyndryl in the 4th quarter valued at approximately $203,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in Kyndryl in the fourth quarter valued at approximately $1,619,000. 71.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Kyndryl

In other news, SVP Vineet Khurana sold 55,465 shares of the firm’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $42.81, for a total value of $2,374,456.65. Following the sale, the senior vice president now directly owns 43,877 shares in the company, valued at approximately $1,878,374.37. This trade represents a 55.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Edward Sebold sold 27,500 shares of the business’s stock in a transaction 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 transaction, the general counsel now owns 132,818 shares of the company’s stock, valued at approximately $5,688,594.94. The trade was a 17.15 % decrease in their position. The disclosure for this sale can be found here. 1.04% of the stock is owned by corporate insiders.

Kyndryl Stock Down 3.0 %

Shares of NYSE KD opened at $31.36 on Friday. The stock has a market cap of $7.30 billion, a P/E ratio of 57.01, a PEG ratio of 10.84 and a beta of 1.85. The business’s fifty day simple moving average is $37.67 and its 200-day simple moving average is $32.29. Kyndryl Holdings, Inc. has a 12-month low of $19.24 and a 12-month high of $43.61. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.55.

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.