Kyndryl Holdings, Inc. (NYSE:KD) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its holdings in Kyndryl Holdings, Inc. (NYSE:KD) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 532,278 shares of the company’s stock after selling 3,066 shares during the quarter. Principal Financial Group Inc. owned 0.23% of Kyndryl worth $18,417,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of KD. FMR LLC grew its holdings in shares of Kyndryl by 35.1% in the 3rd quarter. FMR LLC now owns 6,036,908 shares of the company’s stock worth $138,728,000 after acquiring an additional 1,569,260 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Kyndryl by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 3,867,873 shares of the company’s stock valued at $88,908,000 after purchasing an additional 63,997 shares during the period. Westfield Capital Management Co. LP boosted its position in shares of Kyndryl by 62.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 3,259,082 shares of the company’s stock valued at $74,894,000 after purchasing an additional 1,254,208 shares during the period. Zimmer Partners LP increased its stake in Kyndryl by 1.9% in the 3rd quarter. Zimmer Partners LP now owns 2,723,895 shares of the company’s stock worth $62,595,000 after purchasing an additional 49,738 shares in the last quarter. Finally, Royce & Associates LP raised its holdings in Kyndryl by 9.6% during the 3rd quarter. Royce & Associates LP now owns 2,643,328 shares of the company’s stock worth $60,744,000 after buying an additional 232,583 shares during the period. Institutional investors own 71.53% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on KD shares. Bank of America initiated coverage on shares of Kyndryl in a report on Friday, November 22nd. They issued a “buy” rating and a $40.00 target price for the company. Oppenheimer lifted their price objective on shares of Kyndryl from $37.00 to $43.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 4th. Finally, Susquehanna boosted their target price on shares of Kyndryl from $40.00 to $46.00 and gave the company a “positive” rating in a research note on Wednesday, February 5th.

Kyndryl Price Performance

NYSE KD opened at $37.12 on Tuesday. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market capitalization of $8.64 billion, a price-to-earnings ratio of 67.48, a price-to-earnings-growth ratio of 10.84 and a beta of 1.86. The company has a 50 day simple moving average of $38.08 and a 200-day simple moving average of $30.38. Kyndryl Holdings, Inc. has a 52-week low of $19.24 and a 52-week high of $43.61.

Insider Buying and Selling at Kyndryl

In other news, SVP Vineet Khurana sold 55,465 shares of the business’s stock in a transaction on 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 directly owns 43,877 shares in the company, valued at $1,878,374.37. The trade was a 55.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Edward Sebold sold 27,500 shares of the company’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 completion of the transaction, the general counsel now directly owns 132,818 shares in the company, valued at $5,688,594.94. This trade represents a 17.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.04% 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.