Kyndryl (NYSE:KD) Shares Gap Down – Time to Sell?

Kyndryl Holdings, Inc. (NYSE:KD)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $34.06, but opened at $30.88. Kyndryl shares last traded at $30.46, with a volume of 2,177,572 shares changing hands.

Analyst Upgrades and Downgrades

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

Kyndryl Price Performance

The stock has a market capitalization of $7.30 billion, a price-to-earnings ratio of 57.01, a P/E/G ratio of 10.84 and a beta of 1.85. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.09 and a quick ratio of 1.09. The company’s 50-day simple moving average is $37.67 and its 200-day simple moving average is $32.29.

Insider Activity at Kyndryl

In other news, SVP Vineet Khurana sold 55,465 shares of the firm’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 value of $2,374,456.65. Following the transaction, the senior vice president now owns 43,877 shares in the company, valued at $1,878,374.37. This trade represents a 55.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Edward Sebold sold 27,500 shares of the firm’s stock in a transaction on 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 sale, 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 disclosure for this sale can be found here. 1.04% of the stock is currently owned by insiders.

Institutional Trading of Kyndryl

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in Kyndryl by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 27,873,819 shares of the company’s stock worth $964,434,000 after purchasing an additional 79,575 shares during the period. FMR LLC grew its stake in shares of 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 acquiring an additional 6,371,541 shares during the period. Geode Capital Management LLC boosted its stake in shares of Kyndryl by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 3,867,873 shares of the company’s stock worth $88,908,000 after buying an additional 63,997 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Kyndryl by 123.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,683,060 shares of the company’s stock valued at $127,434,000 after purchasing an additional 2,033,549 shares during the last quarter. Finally, GMT Capital Corp raised its position in Kyndryl by 16.4% in the fourth quarter. GMT Capital Corp now owns 2,973,560 shares of the company’s stock worth $102,885,000 after acquiring an additional 418,900 shares during the period. Institutional investors own 71.53% of the company’s stock.

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.