Kyndryl (NYSE:KD) Trading Down 4.2% – Here’s Why

Kyndryl Holdings, Inc. (NYSE:KD) shares fell 4.2% during mid-day trading on Thursday . The company traded as low as $38.92 and last traded at $39.11. 694,638 shares were traded during trading, a decline of 71% from the average session volume of 2,375,774 shares. The stock had previously closed at $40.84.

Analyst Ratings Changes

A number of research firms have recently issued reports on KD. Oppenheimer lifted their price objective on shares of Kyndryl from $37.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday, February 4th. Bank of America began coverage on shares of Kyndryl in a research note on Friday, November 22nd. They set a “buy” rating and a $40.00 price objective on the stock. Finally, Susquehanna lifted their price objective 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.

Kyndryl Trading Down 3.4 %

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’s 50 day moving average is $38.05 and its 200-day moving average is $30.16. The firm has a market cap of $8.93 billion, a P/E ratio of 69.80, a price-to-earnings-growth ratio of 10.84 and a beta of 1.86.

Insiders Place Their Bets

In related news, General Counsel Edward Sebold sold 27,500 shares of Kyndryl stock in a transaction dated 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 sale, the general counsel now directly owns 132,818 shares in the company, valued at $5,688,594.94. The trade was a 17.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Vineet Khurana sold 55,465 shares of Kyndryl 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 sale, the senior vice president now owns 43,877 shares in the company, 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 currently owned by corporate insiders.

Institutional Investors Weigh In On Kyndryl

A number of hedge funds and other institutional investors have recently modified their holdings of KD. Creative Planning raised its position in Kyndryl by 3.3% in the third quarter. Creative Planning now owns 42,999 shares of the company’s stock worth $988,000 after acquiring an additional 1,384 shares in the last quarter. Blue Trust Inc. raised its position in Kyndryl by 34.9% in the third quarter. Blue Trust Inc. now owns 4,334 shares of the company’s stock worth $100,000 after acquiring an additional 1,122 shares in the last quarter. International Assets Investment Management LLC raised its position in Kyndryl by 2,035.3% in the third quarter. International Assets Investment Management LLC now owns 40,100 shares of the company’s stock worth $921,000 after acquiring an additional 38,222 shares in the last quarter. Highland Capital Management LLC bought a new stake in Kyndryl in the third quarter worth about $203,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in Kyndryl by 19.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 29,660 shares of the company’s stock worth $682,000 after acquiring an additional 4,750 shares in the last quarter. 71.53% of the stock is currently owned by institutional investors.

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.