Empowered Funds LLC Makes New $236,000 Investment in Kyndryl Holdings, Inc. (NYSE:KD)

Empowered Funds LLC acquired a new position in Kyndryl Holdings, Inc. (NYSE:KD) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,809 shares of the company’s stock, valued at approximately $236,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. FMR LLC raised its stake 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. Geode Capital Management LLC increased its position in shares of Kyndryl by 1.7% during the third quarter. Geode Capital Management LLC now owns 3,867,873 shares of the company’s stock valued at $88,908,000 after acquiring an additional 63,997 shares during the last quarter. Westfield Capital Management Co. LP increased its position in shares of Kyndryl by 62.6% during the third quarter. Westfield Capital Management Co. LP now owns 3,259,082 shares of the company’s stock valued at $74,894,000 after acquiring an additional 1,254,208 shares during the last quarter. Zimmer Partners LP increased its position in shares of Kyndryl by 1.9% during the third quarter. Zimmer Partners LP now owns 2,723,895 shares of the company’s stock valued at $62,595,000 after acquiring an additional 49,738 shares during the last quarter. Finally, Royce & Associates LP increased its position in shares of Kyndryl by 9.6% during the third quarter. Royce & Associates LP now owns 2,643,328 shares of the company’s stock valued at $60,744,000 after acquiring an additional 232,583 shares during the last quarter. 71.53% of the stock is owned by hedge funds and other institutional investors.

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 stock was sold at an average price of $42.81, for a total value of $2,374,456.65. Following the completion of the transaction, the senior vice president now directly owns 43,877 shares of the company’s stock, valued at $1,878,374.37. This trade represents a 55.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Edward Sebold sold 27,500 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $42.83, for a total value of $1,177,825.00. Following the completion of the transaction, the general counsel now directly owns 132,818 shares of the company’s stock, valued at $5,688,594.94. The trade was a 17.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.04% of the stock is owned by corporate insiders.

Kyndryl Price Performance

Shares of NYSE KD opened at $38.39 on Friday. The stock has a fifty day simple moving average of $38.05 and a two-hundred day simple moving average of $30.16. Kyndryl Holdings, Inc. has a 1-year low of $19.24 and a 1-year high of $43.61. The firm has a market cap of $8.93 billion, a price-to-earnings ratio of 69.80, a price-to-earnings-growth ratio of 12.01 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.

Analysts Set New Price Targets

KD has been the subject of a number of research analyst reports. Oppenheimer increased their price target on Kyndryl from $37.00 to $43.00 and gave the company an “outperform” rating in a research report on Tuesday, February 4th. Susquehanna increased 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. Finally, Bank of America assumed coverage on Kyndryl in a research report on Friday, November 22nd. They set a “buy” rating and a $40.00 price target for the company.

Kyndryl 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.