Kyndryl (NYSE:KD) Stock Price Down 1.6% – Time to Sell?

Kyndryl Holdings, Inc. (NYSE:KD) was down 1.6% on Wednesday . The company traded as low as $40.95 and last traded at $41.20. Approximately 459,353 shares were traded during trading, a decline of 81% from the average daily volume of 2,383,648 shares. The stock had previously closed at $41.87.

Wall Street Analysts Forecast Growth

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

Kyndryl Stock Down 1.8 %

The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.55. The stock has a fifty day moving average price of $37.67 and a two-hundred day moving average price of $29.78. The company has a market cap of $9.56 billion, a price-to-earnings ratio of 74.79, a P/E/G ratio of 12.29 and a beta of 1.86.

Insider Transactions at Kyndryl

In related news, SVP Vineet Khurana sold 55,465 shares of the firm’s stock in a transaction on 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 owns 43,877 shares in the company, valued at approximately $1,878,374.37. This trade 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 accessible through this link. Also, General Counsel Edward Sebold sold 27,500 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $42.83, for a total value 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. This trade represents a 17.15 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.04% of the company’s stock.

Institutional Trading of Kyndryl

Institutional investors and hedge funds have recently made changes to their positions in the company. Westfield Capital Management Co. LP lifted its holdings in shares of Kyndryl by 62.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 3,259,082 shares of the company’s stock worth $74,894,000 after acquiring an additional 1,254,208 shares during the period. Tidal Investments LLC lifted its holdings in shares of Kyndryl by 45.9% during the 3rd quarter. Tidal Investments LLC now owns 102,270 shares of the company’s stock worth $2,350,000 after acquiring an additional 32,173 shares during the period. Fifth Third Wealth Advisors LLC bought a new stake in shares of Kyndryl during the 4th quarter worth approximately $255,000. National Bank of Canada FI lifted its holdings in shares of Kyndryl by 33.7% during the 3rd quarter. National Bank of Canada FI now owns 656,901 shares of the company’s stock worth $15,096,000 after acquiring an additional 165,481 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Kyndryl by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,968,175 shares of the company’s stock worth $45,229,000 after acquiring an additional 76,670 shares during the period. Institutional investors own 71.53% 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.