Ieq Capital LLC Buys Shares of 101,238 Kyndryl Holdings, Inc. (NYSE:KD)

Ieq Capital LLC purchased a new position in shares of Kyndryl Holdings, Inc. (NYSE:KD) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 101,238 shares of the company’s stock, valued at approximately $3,503,000.

Other large investors have also modified their holdings of the company. New York State Common Retirement Fund increased its stake in Kyndryl by 0.6% in the 4th quarter. New York State Common Retirement Fund now owns 532,560 shares of the company’s stock valued at $18,427,000 after buying an additional 2,999 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of Kyndryl in the fourth quarter valued at about $200,000. Truist Financial Corp increased its stake in shares of Kyndryl by 8.9% during the fourth quarter. Truist Financial Corp now owns 19,766 shares of the company’s stock worth $684,000 after acquiring an additional 1,613 shares during the period. CIBC Asset Management Inc purchased a new position in Kyndryl during the fourth quarter worth about $244,000. Finally, Allworth Financial LP lifted its position in Kyndryl by 57.1% in the fourth quarter. Allworth Financial LP now owns 9,592 shares of the company’s stock valued at $332,000 after purchasing an additional 3,486 shares during the period. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Insider Buying and Selling

In related news, SVP Vineet Khurana sold 55,465 shares of Kyndryl stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $42.81, for a total transaction of $2,374,456.65. Following the completion of the transaction, the senior vice president now directly owns 43,877 shares in the company, valued at $1,878,374.37. The trade was a 55.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Edward Sebold sold 27,500 shares of the company’s 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 completion of the sale, the general counsel now directly owns 132,818 shares in the company, valued at approximately $5,688,594.94. The trade was a 17.15 % decrease in their position. The disclosure for this sale can be found here. 1.04% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

Kyndryl Price Performance

KD stock opened at $38.39 on Friday. The company has a market cap of $8.93 billion, a price-to-earnings ratio of 69.80, a PEG 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. The firm has a 50 day moving average of $38.05 and a 200-day moving average of $30.22. Kyndryl Holdings, Inc. has a 12-month low of $19.24 and a 12-month high of $43.61.

Kyndryl Company Profile

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.