Kyndryl (NYSE:KD) Trading Down 4.2% – Here’s Why

Kyndryl Holdings, Inc. (NYSE:KD) was down 4.2% during mid-day trading on Thursday . The stock traded as low as $38.92 and last traded at $39.11. Approximately 694,638 shares changed hands during trading, a decline of 71% from the average daily volume of 2,375,774 shares. The stock had previously closed at $40.84.

Analyst Ratings Changes

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

Kyndryl Trading Down 3.4 %

The firm has a market cap of $8.93 billion, a P/E ratio of 69.80, a PEG ratio of 10.84 and a beta of 1.86. The company has a 50 day moving average of $38.05 and a 200 day moving average of $30.16. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.09 and a current ratio of 1.09.

Insider Activity at Kyndryl

In other Kyndryl news, SVP Vineet Khurana sold 55,465 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $42.81, for a total transaction of $2,374,456.65. Following the completion of the sale, the senior vice president now owns 43,877 shares of the company’s stock, valued at $1,878,374.37. This represents a 55.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Edward Sebold sold 27,500 shares of the company’s stock in a transaction that occurred 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 sale, 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 position. The disclosure for this sale can be found here. 1.04% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Kyndryl by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 27,873,819 shares of the company’s stock worth $964,434,000 after buying an additional 79,575 shares during the last quarter. FMR LLC raised its stake in shares of Kyndryl by 105.5% in the fourth quarter. FMR LLC now owns 12,408,449 shares of the company’s stock valued at $429,332,000 after purchasing an additional 6,371,541 shares in the last quarter. Geode Capital Management LLC lifted its position in Kyndryl by 1.7% in the third quarter. Geode Capital Management LLC now owns 3,867,873 shares of the company’s stock worth $88,908,000 after purchasing an additional 63,997 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in Kyndryl by 123.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,683,060 shares of the company’s stock worth $127,434,000 after purchasing an additional 2,033,549 shares during the period. Finally, Westfield Capital Management Co. LP lifted its position in Kyndryl by 62.6% in the third quarter. Westfield Capital Management Co. LP now owns 3,259,082 shares of the company’s stock worth $74,894,000 after purchasing an additional 1,254,208 shares during the period. 71.53% of the stock is currently owned by institutional investors and hedge funds.

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.