Mitsubishi UFJ Trust & Banking Corp Cuts Stake in Kyndryl Holdings, Inc. (NYSE:KD)

Mitsubishi UFJ Trust & Banking Corp cut its holdings in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 21.7% during the 4th quarter, HoldingsChannel reports. The fund owned 102,035 shares of the company’s stock after selling 28,211 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Kyndryl were worth $3,530,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Millstone Evans Group LLC purchased a new stake in Kyndryl during the 4th quarter valued at about $35,000. Picton Mahoney Asset Management purchased a new stake in shares of Kyndryl during the fourth quarter valued at approximately $38,000. EverSource Wealth Advisors LLC grew its holdings in shares of Kyndryl by 35.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock worth $39,000 after purchasing an additional 297 shares during the last quarter. Sandy Spring Bank increased its stake in shares of Kyndryl by 41.2% in the fourth quarter. Sandy Spring Bank now owns 1,514 shares of the company’s stock worth $52,000 after buying an additional 442 shares during the period. Finally, Lee Danner & Bass Inc. bought a new stake in Kyndryl during the 4th quarter valued at $60,000. 71.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, SVP Vineet Khurana sold 55,465 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $42.81, for a total value of $2,374,456.65. Following the sale, the senior vice president now directly owns 43,877 shares of the company’s stock, valued at $1,878,374.37. This represents a 55.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Edward Sebold sold 27,500 shares of Kyndryl stock in a transaction dated Thursday, February 6th. The shares were 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 approximately $5,688,594.94. This trade represents a 17.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.04% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on KD shares. Susquehanna boosted their price objective on shares of Kyndryl from $40.00 to $46.00 and gave the company a “positive” rating in a research report on Wednesday, February 5th. Oppenheimer upped 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 Trading Up 0.2 %

NYSE:KD opened at $31.39 on Tuesday. The company has a 50-day moving average price of $37.54 and a 200-day moving average price of $32.48. The stock has a market cap of $7.31 billion, a price-to-earnings ratio of 57.08, a P/E/G ratio of 10.84 and a beta of 1.85. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.55. Kyndryl Holdings, Inc. has a 12 month low of $19.24 and a 12 month high of $43.61.

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.