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

KLP Kapitalforvaltning AS 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 & Exchange Commission. The institutional investor purchased 46,800 shares of the company’s stock, valued at approximately $1,619,000.

Other large investors have also modified their holdings of the company. Tidal Investments LLC grew its position 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 last quarter. Fifth Third Wealth Advisors LLC bought a new position in Kyndryl in the 4th quarter worth approximately $255,000. National Bank of Canada FI grew its holdings in Kyndryl by 33.7% in the 3rd 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 in the last quarter. Charles Schwab Investment Management Inc. increased its position in Kyndryl by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,968,175 shares of the company’s stock valued at $45,229,000 after acquiring an additional 76,670 shares during the period. Finally, FMR LLC raised its stake in Kyndryl by 35.1% during the 3rd quarter. FMR LLC now owns 6,036,908 shares of the company’s stock valued at $138,728,000 after acquiring an additional 1,569,260 shares in the last quarter. Institutional investors and hedge funds own 71.53% of the company’s stock.

Kyndryl Stock Down 3.0 %

Shares of KD stock opened at $31.36 on Friday. Kyndryl Holdings, Inc. has a 1 year low of $19.24 and a 1 year high of $43.61. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.09 and a current ratio of 1.09. The business’s fifty day moving average is $37.67 and its 200-day moving average is $32.29. The stock has a market cap of $7.30 billion, a PE ratio of 57.01, a price-to-earnings-growth ratio of 10.84 and a beta of 1.85.

Analysts Set New Price Targets

A number of brokerages have recently commented on KD. Oppenheimer raised 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. Susquehanna raised their target price 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.

Insider Buying and Selling

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

Kyndryl 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.