Kyndryl (NYSE:KD) Shares Down 1.6% – Time to Sell?

Kyndryl Holdings, Inc. (NYSE:KD)’s stock price was down 1.6% during mid-day trading on Wednesday . The company traded as low as $40.95 and last traded at $41.20. Approximately 459,353 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 2,383,648 shares. The stock had previously closed at $41.87.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Susquehanna raised their price target on shares of Kyndryl from $40.00 to $46.00 and gave the stock a “positive” rating in a research note on Wednesday, February 5th. Bank of America assumed coverage on shares of Kyndryl in a research note on Friday, November 22nd. They issued a “buy” rating and a $40.00 target price for the company. Finally, Oppenheimer boosted 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.

Kyndryl Stock Performance

The company has a market cap of $8.93 billion, a price-to-earnings ratio of 69.80, a P/E/G ratio of 12.01 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 stock’s 50 day moving average price is $38.05 and its 200 day moving average price is $30.16.

Insider Activity at Kyndryl

In other Kyndryl news, General Counsel Edward Sebold sold 27,500 shares of the company’s stock in a transaction dated 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 sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Vineet Khurana sold 55,465 shares of Kyndryl stock in a transaction dated 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 completion of the transaction, the senior vice president now directly owns 43,877 shares in the company, valued at $1,878,374.37. This represents a 55.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.04% of the stock is owned by insiders.

Hedge Funds Weigh In On Kyndryl

A number of hedge funds have recently made changes to their positions in the business. Bessemer Group Inc. increased its holdings in Kyndryl by 9.4% in the 4th quarter. Bessemer Group Inc. now owns 2,881 shares of the company’s stock valued at $99,000 after purchasing an additional 247 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Kyndryl by 35.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock worth $39,000 after buying an additional 297 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Kyndryl by 1.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 29,972 shares of the company’s stock valued at $1,037,000 after buying an additional 312 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Kyndryl by 0.7% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 51,298 shares of the company’s stock valued at $1,775,000 after buying an additional 332 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its position in Kyndryl by 19.6% during the 4th quarter. Brown Brothers Harriman & Co. now owns 2,259 shares of the company’s stock worth $78,000 after acquiring an additional 370 shares in the last quarter. Hedge funds and other institutional investors own 71.53% of the company’s stock.

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.