Kyndryl Sees Unusually Large Options Volume (NYSE:KD)

Kyndryl Holdings, Inc. (NYSE:KD) was the recipient of unusually large options trading on Monday. Traders bought 12,165 put options on the company. This is an increase of 411% compared to the typical volume of 2,381 put options.

Kyndryl Stock Down 1.1 %

KD opened at $34.94 on Wednesday. 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 business’s fifty day simple moving average is $38.02 and its 200 day simple moving average is $32.22. Kyndryl has a 52 week low of $19.24 and a 52 week high of $43.61. The stock has a market cap of $8.13 billion, a PE ratio of 63.53, a P/E/G ratio of 10.84 and a beta of 1.85.

Analysts Set New Price Targets

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

Insider Transactions at Kyndryl

In other news, General Counsel Edward Sebold sold 27,500 shares of the firm’s stock in a transaction that occurred on 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 directly owns 132,818 shares in the company, valued at approximately $5,688,594.94. This trade represents a 17.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Vineet Khurana sold 55,465 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $42.81, 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 trade represents a 55.83 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.04% of the company’s stock.

Hedge Funds Weigh In On Kyndryl

Institutional investors have recently modified their holdings of the company. FMR LLC boosted its stake in Kyndryl by 105.5% in the fourth quarter. FMR LLC now owns 12,408,449 shares of the company’s stock worth $429,332,000 after buying an additional 6,371,541 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings 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 acquiring an additional 2,033,549 shares during the last quarter. Westfield Capital Management Co. LP boosted its stake in shares of Kyndryl by 62.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 3,259,082 shares of the company’s stock valued at $74,894,000 after purchasing an additional 1,254,208 shares in the last quarter. Deutsche Bank AG raised its position in Kyndryl by 95.9% in the 4th quarter. Deutsche Bank AG now owns 2,147,009 shares of the company’s stock worth $74,287,000 after purchasing an additional 1,050,856 shares during the period. Finally, Cinctive Capital Management LP bought a new stake in Kyndryl in the third quarter worth $20,213,000. 71.53% of the stock is currently owned by institutional investors.

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.