Corient Private Wealth LLC Acquires 5,908 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Corient Private Wealth LLC grew its holdings in Kyndryl Holdings, Inc. (NYSE:KD) by 15.8% in the 4th quarter, Holdings Channel reports. The fund owned 43,260 shares of the company’s stock after purchasing an additional 5,908 shares during the quarter. Corient Private Wealth LLC’s holdings in Kyndryl were worth $1,497,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. FMR LLC raised its holdings in Kyndryl by 35.1% in 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. Cinctive Capital Management LP acquired a new position in shares of Kyndryl in the third quarter valued at $20,213,000. Mediolanum International Funds Ltd bought a new position in Kyndryl in the fourth quarter worth $16,856,000. Raymond James Financial Inc. acquired a new stake in Kyndryl during the fourth quarter worth $11,359,000. Finally, Wexford Capital LP bought a new stake in Kyndryl in the 3rd quarter valued at $6,371,000. Institutional investors and hedge funds own 71.53% of the company’s stock.

Insider Transactions at Kyndryl

In related news, General Counsel Edward Sebold sold 27,500 shares of Kyndryl stock in a transaction dated Thursday, February 6th. The stock was 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 of the company’s stock, valued at $5,688,594.94. The trade was a 17.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Vineet Khurana sold 55,465 shares of the company’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 transaction, the senior vice president now owns 43,877 shares in the company, valued at approximately $1,878,374.37. This trade represents a 55.83 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.04% of the company’s stock.

Kyndryl Trading Down 1.1 %

Shares of KD stock opened at $34.94 on Wednesday. The company has a market capitalization of $8.13 billion, a P/E ratio of 63.53, a P/E/G ratio of 10.84 and a beta of 1.85. Kyndryl Holdings, Inc. has a 12-month low of $19.24 and a 12-month high of $43.61. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.55. The firm has a 50-day moving average price of $38.02 and a 200 day moving average price of $32.22.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on KD. Oppenheimer raised their price objective on shares of Kyndryl from $37.00 to $43.00 and gave the stock an “outperform” rating in a report on Tuesday, February 4th. Susquehanna upped their price objective on Kyndryl from $40.00 to $46.00 and gave the company a “positive” rating in a research note on Wednesday, February 5th.

About Kyndryl

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.