Arrowstreet Capital Limited Partnership Acquires 2,033,549 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Arrowstreet Capital Limited Partnership grew its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 123.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,683,060 shares of the company’s stock after purchasing an additional 2,033,549 shares during the period. Arrowstreet Capital Limited Partnership owned about 1.59% of Kyndryl worth $127,434,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its position in Kyndryl by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,968,175 shares of the company’s stock valued at $45,229,000 after buying an additional 76,670 shares during the last quarter. Cerity Partners LLC raised its holdings in shares of Kyndryl by 151.3% in the third quarter. Cerity Partners LLC now owns 32,187 shares of the company’s stock valued at $740,000 after purchasing an additional 19,377 shares during the last quarter. 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 valued at $138,728,000 after purchasing an additional 1,569,260 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Kyndryl by 2.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,167 shares of the company’s stock worth $1,199,000 after purchasing an additional 1,078 shares during the last quarter. Finally, Captrust Financial Advisors grew its position in Kyndryl by 8.4% in the 3rd quarter. Captrust Financial Advisors now owns 14,123 shares of the company’s stock worth $325,000 after purchasing an additional 1,092 shares in the last quarter. 71.53% of the stock is owned by hedge funds and other institutional investors.

Kyndryl Trading Down 3.0 %

Shares of KD stock opened at $31.36 on Monday. 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 firm has a market cap of $7.30 billion, a P/E ratio of 57.01, a PEG ratio of 10.84 and a beta of 1.85. The company has a 50 day moving average of $37.67 and a 200-day moving average of $32.42. Kyndryl Holdings, Inc. has a 12-month low of $19.24 and a 12-month high of $43.61.

Insiders Place Their Bets

In related 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 transaction, the senior vice president now directly owns 43,877 shares in the company, valued at approximately $1,878,374.37. The trade was a 55.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Edward Sebold sold 27,500 shares of the stock in a transaction 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 owns 132,818 shares in the company, valued at approximately $5,688,594.94. This 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.

Analyst Upgrades and Downgrades

KD has been the topic of a number of research analyst reports. Susquehanna boosted their target price on Kyndryl from $40.00 to $46.00 and gave the stock a “positive” rating in a research note on Wednesday, February 5th. Oppenheimer upped their price objective on Kyndryl from $37.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday, February 4th.

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.