C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Invests $200,000 in Kyndryl Holdings, Inc. (NYSE:KD)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Kyndryl Holdings, Inc. (NYSE:KD) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 5,794 shares of the company’s stock, valued at approximately $200,000.

Other institutional investors have also modified their holdings of the company. FMR LLC raised its holdings in 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 buying an additional 1,569,260 shares during the period. Westfield Capital Management Co. LP raised its holdings in 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 buying an additional 1,254,208 shares during the period. Cinctive Capital Management LP purchased a new stake in Kyndryl in the 3rd quarter valued at about $20,213,000. Cortland Associates Inc. MO raised its holdings in Kyndryl by 35.7% in the 3rd quarter. Cortland Associates Inc. MO now owns 2,150,614 shares of the company’s stock valued at $49,421,000 after buying an additional 565,263 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Kyndryl by 166.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 839,178 shares of the company’s stock valued at $19,284,000 after buying an additional 524,168 shares during the period. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Insider Buying and Selling at Kyndryl

In other news, General Counsel Edward Sebold sold 27,500 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $5,688,594.94. The trade was a 17.15 % decrease in their ownership of the stock. The sale was disclosed in a filing 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 value of $2,374,456.65. Following the transaction, the senior vice president now directly owns 43,877 shares of the company’s stock, valued at approximately $1,878,374.37. This represents 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 corporate insiders.

Analyst Upgrades and Downgrades

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

Kyndryl Stock Performance

NYSE KD opened at $39.76 on Friday. The company has a market cap of $9.25 billion, a P/E ratio of 72.29, a P/E/G ratio of 12.31 and a beta of 1.86. 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 stock has a 50-day moving average of $37.99 and a two-hundred day moving average of $30.06. Kyndryl Holdings, Inc. has a 1-year low of $19.24 and a 1-year high of $43.61.

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.