Ieq Capital LLC Makes New $3.50 Million Investment in Kyndryl Holdings, Inc. (NYSE:KD)

Ieq Capital LLC acquired a new stake in Kyndryl Holdings, Inc. (NYSE:KD) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 101,238 shares of the company’s stock, valued at approximately $3,503,000.

Several other institutional investors and hedge funds have also modified their holdings of KD. FMR LLC grew its stake in Kyndryl by 35.1% in the 3rd quarter. FMR LLC now owns 6,036,908 shares of the company’s stock worth $138,728,000 after acquiring an additional 1,569,260 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Kyndryl by 1.7% during the third quarter. Geode Capital Management LLC now owns 3,867,873 shares of the company’s stock worth $88,908,000 after purchasing an additional 63,997 shares during the last quarter. Westfield Capital Management Co. LP grew its position in shares of Kyndryl by 62.6% in the third quarter. Westfield Capital Management Co. LP now owns 3,259,082 shares of the company’s stock valued at $74,894,000 after purchasing an additional 1,254,208 shares during the period. Zimmer Partners LP increased its stake in Kyndryl by 1.9% in the third quarter. Zimmer Partners LP now owns 2,723,895 shares of the company’s stock valued at $62,595,000 after purchasing an additional 49,738 shares during the last quarter. Finally, Royce & Associates LP lifted its position in Kyndryl by 9.6% during the third quarter. Royce & Associates LP now owns 2,643,328 shares of the company’s stock worth $60,744,000 after buying an additional 232,583 shares during the period. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Wall Street Analysts Forecast Growth

KD has been the subject of several recent analyst reports. Oppenheimer lifted their price target on Kyndryl from $37.00 to $43.00 and gave the company an “outperform” rating in a report on Tuesday, February 4th. Bank of America assumed coverage on shares of Kyndryl in a research report on Friday, November 22nd. They issued a “buy” rating and a $40.00 target price on the stock. Finally, Susquehanna upped their price target on shares of Kyndryl from $40.00 to $46.00 and gave the stock a “positive” rating in a research report on Wednesday, February 5th.

Kyndryl Price Performance

KD stock opened at $38.39 on Friday. The stock has a 50-day moving average price of $38.05 and a two-hundred day moving average price of $30.22. The company has a market cap of $8.93 billion, a PE ratio of 69.80, a price-to-earnings-growth ratio of 10.84 and a beta of 1.86. 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 Holdings, Inc. has a 12-month low of $19.24 and a 12-month high of $43.61.

Insider Activity

In other news, SVP Vineet Khurana sold 55,465 shares of the firm’s 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 transaction, the senior vice president now owns 43,877 shares of the company’s stock, valued at approximately $1,878,374.37. This trade represents a 55.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Edward Sebold sold 27,500 shares of the company’s stock in a transaction 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 directly owns 132,818 shares of the company’s stock, valued at approximately $5,688,594.94. This trade represents a 17.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.04% of the company’s stock.

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.