Allspring Global Investments Holdings LLC Cuts Holdings in Kyndryl Holdings, Inc. (NYSE:KD)

Allspring Global Investments Holdings LLC cut its holdings in Kyndryl Holdings, Inc. (NYSE:KD) by 7.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,561,476 shares of the company’s stock after selling 193,974 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Kyndryl were worth $90,984,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KD. FMR LLC boosted its position in shares of Kyndryl by 35.1% during the 3rd quarter. FMR LLC now owns 6,036,908 shares of the company’s stock worth $138,728,000 after purchasing an additional 1,569,260 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Kyndryl by 1.7% in the third quarter. Geode Capital Management LLC now owns 3,867,873 shares of the company’s stock valued at $88,908,000 after purchasing an additional 63,997 shares during the period. Westfield Capital Management Co. LP boosted its holdings 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 worth $74,894,000 after buying an additional 1,254,208 shares in the last quarter. Zimmer Partners LP grew its position in Kyndryl by 1.9% during the third quarter. Zimmer Partners LP now owns 2,723,895 shares of the company’s stock worth $62,595,000 after buying an additional 49,738 shares during the period. Finally, Royce & Associates LP increased its holdings in Kyndryl by 9.6% in the third quarter. Royce & Associates LP now owns 2,643,328 shares of the company’s stock valued at $60,744,000 after buying an additional 232,583 shares in the last quarter. Institutional investors and hedge funds own 71.53% of the company’s stock.

Insider Activity at Kyndryl

In related news, General Counsel Edward Sebold sold 27,500 shares of the business’s stock in a transaction dated 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 owns 132,818 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Also, SVP Vineet Khurana sold 55,465 shares of the firm’s stock in a transaction dated 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 sale, 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 corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on KD shares. Susquehanna boosted their price target on 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 Kyndryl in a research report on Friday, November 22nd. They set a “buy” rating and a $40.00 target price on the stock. Finally, Oppenheimer raised their price target on Kyndryl from $37.00 to $43.00 and gave the company an “outperform” rating in a research report on Tuesday, February 4th.

Kyndryl Stock Up 2.8 %

KD stock opened at $41.13 on Thursday. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.03 and a quick ratio of 1.03. The company’s 50 day simple moving average is $37.24 and its 200-day simple moving average is $29.43. Kyndryl Holdings, Inc. has a 12 month low of $19.24 and a 12 month high of $43.61. The firm has a market capitalization of $9.57 billion, a PE ratio of 74.78, a P/E/G ratio of 12.64 and a beta of 1.86.

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.