Allspring Global Investments Holdings LLC trimmed its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD – Free Report) by 7.2% during the first quarter, Holdings Channel reports. The institutional investor owned 3,272,242 shares of the company’s stock after selling 252,483 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Kyndryl were worth $71,204,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. SummerHaven Investment Management LLC grew its stake in shares of Kyndryl by 1.1% in the 4th quarter. SummerHaven Investment Management LLC now owns 56,484 shares of the company’s stock worth $1,174,000 after purchasing an additional 594 shares during the last quarter. Alpha Omega Wealth Management LLC grew its stake in shares of Kyndryl by 0.8% in the 1st quarter. Alpha Omega Wealth Management LLC now owns 95,307 shares of the company’s stock worth $2,074,000 after purchasing an additional 730 shares during the last quarter. Fortis Group Advisors LLC grew its stake in shares of Kyndryl by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 1,600 shares of the company’s stock worth $33,000 after purchasing an additional 800 shares during the last quarter. Treasurer of the State of North Carolina grew its stake in shares of Kyndryl by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 100,713 shares of the company’s stock worth $2,093,000 after purchasing an additional 990 shares during the last quarter. Finally, AdvisorNet Financial Inc grew its stake in shares of Kyndryl by 19.7% in the 1st quarter. AdvisorNet Financial Inc now owns 6,407 shares of the company’s stock worth $139,000 after purchasing an additional 1,054 shares during the last quarter. 71.53% of the stock is currently owned by institutional investors.
Kyndryl Stock Up 0.1 %
Kyndryl stock opened at $26.79 on Wednesday. The firm’s 50 day simple moving average is $25.23 and its 200-day simple moving average is $22.56. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.03 and a quick ratio of 1.03. Kyndryl Holdings, Inc. has a fifty-two week low of $11.92 and a fifty-two week high of $28.60.
Analysts Set New Price Targets
KD has been the topic of several recent research reports. Susquehanna lifted their price objective on shares of Kyndryl from $27.00 to $33.00 and gave the stock a “positive” rating in a research note on Thursday, May 9th. Oppenheimer began coverage on shares of Kyndryl in a research note on Thursday, June 27th. They issued an “outperform” rating and a $33.00 price objective on the stock. Finally, Scotiabank lifted their target price on shares of Kyndryl from $28.00 to $30.00 and gave the stock a “sector outperform” rating in a research report on Monday, May 13th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $29.40.
Get Our Latest Stock Report on KD
Insider Activity at Kyndryl
In related news, SVP Vineet Khurana sold 30,430 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $26.36, for a total transaction of $802,134.80. Following the transaction, the senior vice president now directly owns 78,722 shares of the company’s stock, valued at $2,075,111.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.04% of the stock is currently owned by insiders.
About Kyndryl
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.
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