Kyndryl (NYSE:KD) Trading 3.8% Higher

Kyndryl Holdings, Inc. (NYSE:KDGet Rating)’s share price traded up 3.8% on Wednesday . The stock traded as high as $10.58 and last traded at $10.54. 43,964 shares traded hands during trading, a decline of 98% from the average session volume of 2,309,852 shares. The stock had previously closed at $10.15.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. assumed coverage on shares of Kyndryl in a report on Tuesday, August 2nd. They set a “neutral” rating and a $12.00 target price for the company.

Kyndryl Stock Down 3.6 %

The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.17 and a current ratio of 1.17. The business’s 50 day simple moving average is $10.68 and its two-hundred day simple moving average is $11.30.

Insider Buying and Selling at Kyndryl

In other Kyndryl news, Director Howard I. Ungerleider acquired 20,000 shares of the business’s stock in a transaction dated Friday, August 5th. The stock was purchased at an average price of $10.59 per share, with a total value of $211,800.00. Following the transaction, the director now directly owns 50,389 shares in the company, valued at approximately $533,619.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Denis Machuel bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The stock was bought at an average price of $11.59 per share, with a total value of $57,950.00. Following the acquisition, the director now owns 35,389 shares of the company’s stock, valued at approximately $410,158.51. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Howard I. Ungerleider bought 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 5th. The stock was purchased at an average cost of $10.59 per share, with a total value of $211,800.00. Following the acquisition, the director now directly owns 50,389 shares in the company, valued at approximately $533,619.51. The disclosure for this purchase can be found here. Company insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of KD. Goldman Sachs Group Inc. boosted its holdings in Kyndryl by 3,628.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 17,387,317 shares of the company’s stock worth $170,048,000 after buying an additional 16,920,997 shares during the period. State Street Corp purchased a new stake in Kyndryl in the 4th quarter worth about $125,742,000. Bank of Nova Scotia bought a new position in Kyndryl in the 2nd quarter worth about $50,044,000. National Bank of Canada FI grew its stake in Kyndryl by 4,594.5% in the 2nd quarter. National Bank of Canada FI now owns 3,120,770 shares of the company’s stock worth $30,521,000 after acquiring an additional 3,054,293 shares in the last quarter. Finally, Greenlight Capital Inc. grew its stake in Kyndryl by 122.0% in the 2nd quarter. Greenlight Capital Inc. now owns 5,373,400 shares of the company’s stock worth $52,552,000 after acquiring an additional 2,953,000 shares in the last quarter. Institutional investors own 61.92% of the company’s stock.

Kyndryl Company Profile

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Kyndryl Holdings, Inc operates as a technology services company and IT infrastructure services provider worldwide. The company offers cloud services; core enterprise and cloud services; application, data, and artificial intelligence services; digital workplace services; security and resiliency services; and network services and edge services.

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