Securian Asset Management Inc. Reduces Position in Kyndryl Holdings, Inc. (NYSE:KD)

Securian Asset Management Inc. cut its holdings in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 2.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,559 shares of the company’s stock after selling 419 shares during the quarter. Securian Asset Management Inc.’s holdings in Kyndryl were worth $608,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in KD. FMR LLC lifted its holdings in Kyndryl by 35.1% during the third quarter. FMR LLC now owns 6,036,908 shares of the company’s stock valued at $138,728,000 after purchasing an additional 1,569,260 shares during the last quarter. Westfield Capital Management Co. LP lifted its holdings in shares of Kyndryl by 62.6% in the third quarter. Westfield Capital Management Co. LP now owns 3,259,082 shares of the company’s stock worth $74,894,000 after buying an additional 1,254,208 shares in the last quarter. Cinctive Capital Management LP purchased a new stake in shares of Kyndryl in the third quarter worth about $20,213,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in Kyndryl by 166.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 839,178 shares of the company’s stock valued at $19,284,000 after purchasing an additional 524,168 shares during the last quarter. Finally, Mediolanum International Funds Ltd bought a new stake in Kyndryl during the fourth quarter valued at approximately $16,856,000. 71.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Kyndryl

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 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. The trade was a 17.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Vineet Khurana sold 55,465 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were 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 directly owns 43,877 shares in the company, valued at approximately $1,878,374.37. The trade was a 55.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.04% of the company’s stock.

Analysts Set New Price Targets

KD has been the subject of several research analyst reports. Susquehanna lifted their target price 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 lifted their price target on shares of Kyndryl from $37.00 to $43.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 4th. Finally, Bank of America began coverage on shares of Kyndryl in a research note on Friday, November 22nd. They set a “buy” rating and a $40.00 price target on the stock.

Kyndryl Stock Up 4.5 %

Shares of NYSE KD opened at $35.26 on Monday. 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 52 week low of $19.24 and a 52 week high of $43.61. The firm’s fifty day moving average is $38.39 and its 200 day moving average is $31.64. The company has a market cap of $8.20 billion, a price-to-earnings ratio of 64.10, a PEG ratio of 10.84 and a beta of 1.85.

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.