Millstone Evans Group LLC Makes New Investment in Kyndryl Holdings, Inc. (NYSE:KD)

Millstone Evans Group LLC purchased a new position in Kyndryl Holdings, Inc. (NYSE:KD) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,021 shares of the company’s stock, valued at approximately $35,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC lifted its position in shares of Kyndryl by 35.1% during the third 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 in the last quarter. Cinctive Capital Management LP purchased a new position in Kyndryl in the 3rd quarter worth approximately $20,213,000. Mediolanum International Funds Ltd bought a new position in Kyndryl in the fourth quarter valued at $16,856,000. Raymond James Financial Inc. bought a new position in Kyndryl during the fourth quarter valued at approximately $11,359,000. Finally, Wexford Capital LP bought a new stake in Kyndryl in the third quarter worth $6,371,000. 71.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Kyndryl Price Performance

Shares of KD opened at $35.38 on Tuesday. Kyndryl Holdings, Inc. has a twelve month low of $19.24 and a twelve month high of $43.61. The company has a market capitalization of $8.23 billion, a P/E ratio of 64.32, a price-to-earnings-growth ratio of 10.84 and a beta of 1.85. The firm has a 50 day moving average of $38.07 and a 200 day moving average of $32.13. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.55.

Insider Buying and Selling at Kyndryl

In other news, SVP Vineet Khurana sold 55,465 shares of Kyndryl stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $42.81, for a total value of $2,374,456.65. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Edward Sebold sold 27,500 shares of the 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 transaction, the general counsel now owns 132,818 shares in the company, valued at approximately $5,688,594.94. This trade represents a 17.15 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.04% of the company’s stock.

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.