Edgestream Partners L.P. Sells 75,421 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Edgestream Partners L.P. lessened its stake in Kyndryl Holdings, Inc. (NYSE:KD) by 70.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,327 shares of the company’s stock after selling 75,421 shares during the period. Edgestream Partners L.P.’s holdings in Kyndryl were worth $1,084,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC lifted its position in Kyndryl by 35.1% during the third quarter. FMR LLC now owns 6,036,908 shares of the company’s stock valued at $138,728,000 after acquiring an additional 1,569,260 shares during the last quarter. 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 valued at $74,894,000 after purchasing an additional 1,254,208 shares during the last quarter. Cinctive Capital Management LP acquired a new stake in shares of Kyndryl in the 3rd quarter worth $20,213,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in Kyndryl by 166.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 839,178 shares of the company’s stock worth $19,284,000 after buying an additional 524,168 shares during the last quarter. Finally, Mediolanum International Funds Ltd acquired a new position in Kyndryl during the 4th quarter valued at about $16,856,000. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Insider Buying and Selling

In other news, General Counsel Edward Sebold sold 27,500 shares of the company’s stock in a transaction 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 completion of the sale, the general counsel now owns 132,818 shares of the company’s stock, valued at $5,688,594.94. This represents a 17.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Vineet Khurana sold 55,465 shares of the stock in a transaction dated 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 sale, the senior vice president now owns 43,877 shares of the company’s stock, valued at $1,878,374.37. This trade represents a 55.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.04% of the company’s stock.

Kyndryl Stock Performance

NYSE:KD opened at $34.30 on Wednesday. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market capitalization of $7.98 billion, a PE ratio of 62.35, a P/E/G ratio of 10.84 and a beta of 1.85. Kyndryl Holdings, Inc. has a fifty-two week low of $19.24 and a fifty-two week high of $43.61. The company has a fifty day moving average of $38.48 and a two-hundred day moving average of $31.41.

Wall Street Analyst Weigh In

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

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.