AXQ Capital LP Trims Stake in Kyndryl Holdings, Inc. (NYSE:KD)

AXQ Capital LP lowered its stake in Kyndryl Holdings, Inc. (NYSE:KD) by 73.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,343 shares of the company’s stock after selling 31,793 shares during the quarter. AXQ Capital LP’s holdings in Kyndryl were worth $392,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KD. Millstone Evans Group LLC purchased a new position in shares of Kyndryl during the 4th quarter worth $35,000. Picton Mahoney Asset Management purchased a new position in shares of Kyndryl during the 4th quarter worth $38,000. EverSource Wealth Advisors LLC lifted its stake in shares of Kyndryl by 35.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock worth $39,000 after purchasing an additional 297 shares during the period. Sandy Spring Bank lifted its stake in shares of Kyndryl by 41.2% during the 4th quarter. Sandy Spring Bank now owns 1,514 shares of the company’s stock worth $52,000 after purchasing an additional 442 shares during the period. Finally, Lee Danner & Bass Inc. purchased a new position in shares of Kyndryl during the 4th quarter worth $60,000. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Insider Activity at Kyndryl

In related news, 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 completion of the sale, the general counsel now directly owns 132,818 shares in the company, valued at approximately $5,688,594.94. This represents a 17.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Vineet Khurana sold 55,465 shares of the stock in a transaction 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 owns 43,877 shares of the company’s stock, valued at approximately $1,878,374.37. This represents a 55.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.04% of the stock is owned by insiders.

Analysts Set New Price Targets

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

Kyndryl Trading Up 1.0 %

KD stock opened at $34.57 on Monday. The company has a market cap of $8.04 billion, a price-to-earnings ratio of 62.85, a PEG ratio of 10.84 and a beta of 1.85. 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 business has a fifty day simple moving average of $38.10 and a 200-day simple moving average of $32.04. Kyndryl Holdings, Inc. has a 52 week low of $19.24 and a 52 week high of $43.61.

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.