GeoWealth Management LLC Acquires New Holdings in Kyndryl Holdings, Inc. (NYSE:KD)

GeoWealth Management LLC purchased a new stake in Kyndryl Holdings, Inc. (NYSE:KD) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 2,439 shares of the company’s stock, valued at approximately $84,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in Kyndryl by 105.5% in the fourth quarter. FMR LLC now owns 12,408,449 shares of the company’s stock valued at $429,332,000 after acquiring an additional 6,371,541 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Kyndryl by 123.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,683,060 shares of the company’s stock worth $127,434,000 after purchasing an additional 2,033,549 shares during the period. Invesco Ltd. boosted its stake in shares of Kyndryl by 39.9% in the 4th quarter. Invesco Ltd. now owns 2,346,142 shares of the company’s stock valued at $81,177,000 after purchasing an additional 669,097 shares during the last quarter. Mediolanum International Funds Ltd bought a new stake in shares of Kyndryl in the 4th quarter valued at $16,856,000. Finally, Trexquant Investment LP increased its position in shares of Kyndryl by 656.2% during the fourth quarter. Trexquant Investment LP now owns 547,462 shares of the company’s stock worth $18,942,000 after buying an additional 475,063 shares during the period. 71.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, General Counsel Edward Sebold sold 27,500 shares of the company’s stock in a transaction that occurred 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 transaction, the general counsel now directly owns 132,818 shares of the company’s stock, valued at $5,688,594.94. This represents a 17.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Vineet Khurana sold 55,465 shares of the 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 completion of the transaction, the senior vice president now owns 43,877 shares in the company, valued at approximately $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. Corporate insiders own 1.04% of the company’s stock.

Analysts Set New Price Targets

KD has been the topic of several recent analyst reports. Oppenheimer boosted their target price on shares of Kyndryl from $37.00 to $43.00 and gave the company an “outperform” rating in a report on Tuesday, February 4th. Susquehanna dropped their price objective on Kyndryl from $46.00 to $43.00 and set a “positive” rating on the stock in a research note on Wednesday.

Kyndryl Stock Performance

NYSE:KD opened at $32.02 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.55. Kyndryl Holdings, Inc. has a twelve month low of $19.24 and a twelve month high of $43.61. The company has a fifty day moving average of $33.52 and a 200-day moving average of $33.22. The firm has a market capitalization of $7.45 billion, a P/E ratio of 58.22, a P/E/G ratio of 10.84 and a beta of 1.91.

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.