HighTower Advisors LLC Raises Stock Position in Kyndryl Holdings, Inc. (NYSE:KD)

HighTower Advisors LLC boosted its holdings in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 4.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,109 shares of the company’s stock after purchasing an additional 1,432 shares during the period. HighTower Advisors LLC’s holdings in Kyndryl were worth $1,076,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. FMR LLC increased its stake in shares of Kyndryl by 35.1% in the 3rd quarter. FMR LLC now owns 6,036,908 shares of the company’s stock valued at $138,728,000 after purchasing an additional 1,569,260 shares in the last quarter. Cinctive Capital Management LP purchased a new position in Kyndryl during the third quarter valued at $20,213,000. Mediolanum International Funds Ltd acquired a new stake in shares of Kyndryl in the fourth quarter valued at about $16,856,000. Raymond James Financial Inc. purchased a new stake in shares of Kyndryl during the fourth quarter worth about $11,359,000. Finally, Wexford Capital LP acquired a new position in shares of Kyndryl during the 3rd quarter worth about $6,371,000. 71.53% of the stock is owned by hedge funds and other institutional investors.

Kyndryl Trading Down 2.7 %

Shares of KD stock opened at $34.01 on Thursday. 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 $7.91 billion, a PE ratio of 61.83, a price-to-earnings-growth ratio of 10.84 and a beta of 1.85. The company has a 50-day moving average of $37.93 and a two-hundred day moving average of $32.23. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.09 and a quick ratio of 1.09.

Insider Activity

In related news, General Counsel Edward Sebold sold 27,500 shares of the company’s 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 sale, the general counsel now directly owns 132,818 shares of the company’s stock, valued at $5,688,594.94. This represents a 17.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Vineet Khurana sold 55,465 shares of the firm’s stock in a transaction that occurred 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 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 represents 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.

Wall Street Analyst Weigh In

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

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.