Rhumbline Advisers Reduces Stock Position in Kyndryl Holdings, Inc. (NYSE:KD)

Rhumbline Advisers cut its holdings in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 1.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 620,917 shares of the company’s stock after selling 11,581 shares during the quarter. Rhumbline Advisers’ holdings in Kyndryl were worth $21,484,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of KD. New Mexico Educational Retirement Board grew its position in shares of Kyndryl by 13.9% in the 4th quarter. New Mexico Educational Retirement Board now owns 47,589 shares of the company’s stock worth $1,647,000 after acquiring an additional 5,800 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Kyndryl in the 4th quarter worth approximately $200,000. Louisiana State Employees Retirement System grew its position in shares of Kyndryl by 0.6% in the 4th quarter. Louisiana State Employees Retirement System now owns 64,500 shares of the company’s stock worth $2,232,000 after acquiring an additional 400 shares in the last quarter. Savant Capital LLC acquired a new position in shares of Kyndryl in the 4th quarter worth approximately $595,000. Finally, Stephens Inc. AR acquired a new position in shares of Kyndryl in the 4th quarter worth approximately $1,097,000. 71.53% of the stock is currently owned by hedge funds and other institutional investors.

Kyndryl Trading Down 2.7 %

NYSE:KD opened at $39.76 on Friday. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.09 and a quick ratio of 1.09. Kyndryl Holdings, Inc. has a 12-month low of $19.24 and a 12-month high of $43.61. The business has a 50 day simple moving average of $37.99 and a 200 day simple moving average of $30.06. The firm has a market capitalization of $9.25 billion, a P/E ratio of 72.29, a P/E/G ratio of 12.31 and a beta of 1.86.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Bank of America started coverage on Kyndryl in a research report on Friday, November 22nd. They issued a “buy” rating and a $40.00 target price for the company. Oppenheimer boosted their price objective on Kyndryl from $37.00 to $43.00 and gave the company an “outperform” rating in a research report on Tuesday, February 4th. Finally, Susquehanna boosted 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.

Insiders Place Their Bets

In other Kyndryl news, General Counsel Edward Sebold sold 27,500 shares of the business’s stock in a transaction 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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Vineet Khurana sold 55,465 shares of the business’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $42.81, for a total value of $2,374,456.65. Following the transaction, the senior vice president now owns 43,877 shares of the company’s stock, valued at $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 currently owned by 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.