Franklin Resources Inc. Buys 21,860 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Franklin Resources Inc. increased its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 24.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 111,928 shares of the company’s stock after buying an additional 21,860 shares during the quarter. Franklin Resources Inc.’s holdings in Kyndryl were worth $3,873,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. O Shaughnessy Asset Management LLC acquired a new position in Kyndryl during the fourth quarter worth $325,000. CIBC Private Wealth Group LLC increased its position in shares of Kyndryl by 5.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 24,891 shares of the company’s stock worth $939,000 after purchasing an additional 1,221 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Kyndryl by 123.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,683,060 shares of the company’s stock valued at $127,434,000 after purchasing an additional 2,033,549 shares during the last quarter. Brown Brothers Harriman & Co. boosted its position in Kyndryl by 19.6% in the fourth quarter. Brown Brothers Harriman & Co. now owns 2,259 shares of the company’s stock valued at $78,000 after buying an additional 370 shares in the last quarter. Finally, Orion Portfolio Solutions LLC acquired a new position in Kyndryl in the fourth quarter valued at about $217,000. Institutional investors own 71.53% of the company’s stock.

Insider Activity at Kyndryl

In other Kyndryl news, SVP Vineet Khurana sold 55,465 shares of the company’s 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 transaction, the senior vice president now directly owns 43,877 shares in the company, valued at approximately $1,878,374.37. This represents a 55.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Edward Sebold sold 27,500 shares of Kyndryl stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $42.83, for a total transaction of $1,177,825.00. Following the sale, the general counsel now owns 132,818 shares of the company’s stock, 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. 1.04% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

Kyndryl Trading Up 1.1 %

Shares of NYSE KD opened at $29.42 on Friday. Kyndryl Holdings, Inc. has a 1-year low of $19.24 and a 1-year high of $43.61. The company has a 50-day moving average of $35.63 and a two-hundred day moving average of $32.86. The company has a market cap of $6.85 billion, a PE ratio of 53.49, a P/E/G ratio of 10.84 and a beta of 1.91. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.55.

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.