KLP Kapitalforvaltning AS Acquires Shares of 46,800 Kyndryl Holdings, Inc. (NYSE:KD)

KLP Kapitalforvaltning AS bought a new position in Kyndryl Holdings, Inc. (NYSE:KD) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 46,800 shares of the company’s stock, valued at approximately $1,619,000.

Several other institutional investors have also made changes to their positions in the company. Tidal Investments LLC boosted its stake in Kyndryl by 45.9% in the 3rd quarter. Tidal Investments LLC now owns 102,270 shares of the company’s stock worth $2,350,000 after purchasing an additional 32,173 shares during the period. Fifth Third Wealth Advisors LLC purchased a new stake in shares of Kyndryl in the fourth quarter valued at $255,000. National Bank of Canada FI boosted its position in shares of Kyndryl by 33.7% in the third quarter. National Bank of Canada FI now owns 656,901 shares of the company’s stock worth $15,096,000 after buying an additional 165,481 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Kyndryl by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,968,175 shares of the company’s stock valued at $45,229,000 after buying an additional 76,670 shares in the last quarter. Finally, FMR LLC raised its position in Kyndryl by 35.1% during the third quarter. FMR LLC now owns 6,036,908 shares of the company’s stock valued at $138,728,000 after buying an additional 1,569,260 shares during the period. 71.53% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Vineet Khurana sold 55,465 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was 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 directly owns 43,877 shares in the company, valued at approximately $1,878,374.37. The trade was a 55.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Edward Sebold sold 27,500 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $42.83, for a total value of $1,177,825.00. Following the transaction, the general counsel now owns 132,818 shares in the company, valued at approximately $5,688,594.94. This trade represents a 17.15 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.04% of the company’s stock.

Kyndryl Trading Down 3.0 %

NYSE:KD opened at $31.36 on Friday. The company has a market capitalization of $7.30 billion, a P/E ratio of 57.01, a P/E/G ratio of 10.84 and a beta of 1.85. The stock’s 50 day moving average price is $37.67 and its 200 day moving average price is $32.29. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.09 and a current ratio of 1.09. Kyndryl Holdings, Inc. has a 52 week low of $19.24 and a 52 week high of $43.61.

Analyst Ratings Changes

Several research firms have weighed in on KD. Susquehanna lifted their target price on 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 target price 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.

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.