Kyndryl Holdings, Inc. (NYSE:KD) Short Interest Down 19.0% in January

Kyndryl Holdings, Inc. (NYSE:KD) was the recipient of a significant decline in short interest in January. As of January 31st, there was short interest totalling 7,070,000 shares, a decline of 19.0% from the January 15th total of 8,730,000 shares. Based on an average daily trading volume, of 2,470,000 shares, the short-interest ratio is currently 2.9 days. Currently, 3.1% of the shares of the stock are sold short.

Insider Buying and Selling

In related news, General Counsel Edward Sebold sold 27,500 shares of Kyndryl stock in a transaction that occurred 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 completion of the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 sale, the senior vice president now owns 43,877 shares in the company, valued at approximately $1,878,374.37. This trade represents a 55.83 % decrease in their position. The disclosure for this sale can be found here. 1.04% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Westfield Capital Management Co. LP grew its position in Kyndryl by 62.6% during 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 acquiring an additional 1,254,208 shares during the period. Tidal Investments LLC lifted its stake in shares of Kyndryl by 45.9% in the 3rd quarter. Tidal Investments LLC now owns 102,270 shares of the company’s stock valued at $2,350,000 after purchasing an additional 32,173 shares in the last quarter. Fifth Third Wealth Advisors LLC purchased a new stake in shares of Kyndryl during the 4th quarter worth about $255,000. National Bank of Canada FI increased its position in Kyndryl by 33.7% during the 3rd quarter. National Bank of Canada FI now owns 656,901 shares of the company’s stock worth $15,096,000 after purchasing an additional 165,481 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Kyndryl by 4.1% in 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 during the period. Institutional investors and hedge funds own 71.53% of the company’s stock.

Kyndryl Trading Up 0.4 %

Shares of NYSE:KD traded up $0.17 during midday trading on Monday, reaching $41.71. The company’s stock had a trading volume of 1,139,994 shares, compared to its average volume of 2,351,687. The firm has a market cap of $9.69 billion, a price-to-earnings ratio of 75.84, a price-to-earnings-growth ratio of 12.64 and a beta of 1.86. The business has a 50 day moving average price of $37.67 and a 200 day moving average price of $29.78. Kyndryl has a 1 year low of $19.24 and a 1 year high of $43.61. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.65.

Analyst Upgrades and Downgrades

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