State of Alaska Department of Revenue Sells 305 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

State of Alaska Department of Revenue lessened its position in Kyndryl Holdings, Inc. (NYSE:KD) by 1.1% during the fourth quarter, Holdings Channel reports. The fund owned 26,482 shares of the company’s stock after selling 305 shares during the period. State of Alaska Department of Revenue’s holdings in Kyndryl were worth $916,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. UMB Bank n.a. boosted its position in Kyndryl by 27.1% during the fourth quarter. UMB Bank n.a. now owns 1,916 shares of the company’s stock valued at $66,000 after buying an additional 408 shares during the period. Fifth Third Bancorp boosted its position in Kyndryl by 27.5% during the fourth quarter. Fifth Third Bancorp now owns 2,299 shares of the company’s stock valued at $80,000 after buying an additional 496 shares during the period. Trust Co. of Vermont boosted its position in Kyndryl by 15.2% during the third quarter. Trust Co. of Vermont now owns 3,513 shares of the company’s stock valued at $81,000 after buying an additional 464 shares during the period. Blue Trust Inc. boosted its position in Kyndryl by 34.9% during the third quarter. Blue Trust Inc. now owns 4,334 shares of the company’s stock valued at $100,000 after buying an additional 1,122 shares during the period. Finally, GAMMA Investing LLC boosted its position in Kyndryl by 24.0% during the fourth quarter. GAMMA Investing LLC now owns 2,999 shares of the company’s stock valued at $104,000 after buying an additional 580 shares during the period. Institutional investors own 71.53% of the company’s stock.

Insiders Place Their Bets

In other Kyndryl news, SVP Vineet Khurana sold 55,465 shares of the firm’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 completion of 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Edward Sebold sold 27,500 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $42.83, for a total transaction of $1,177,825.00. Following the completion of the sale, the general counsel now owns 132,818 shares of the company’s stock, valued at $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 currently owned by company insiders.

Analyst Ratings Changes

Several research firms have issued reports on KD. Bank of America began coverage on shares of Kyndryl in a research report on Friday, November 22nd. They set a “buy” rating and a $40.00 price target for the company. Susquehanna increased their target price on shares of Kyndryl from $40.00 to $46.00 and gave the stock a “positive” rating in a report on Wednesday, February 5th. Finally, Oppenheimer increased their target price on shares of Kyndryl from $37.00 to $43.00 and gave the stock an “outperform” rating in a report on Tuesday, February 4th.

Kyndryl Stock Performance

Kyndryl stock opened at $41.54 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.65. The firm has a 50-day moving average of $37.24 and a 200-day moving average of $29.43. The firm has a market cap of $9.65 billion, a P/E ratio of 75.53, a P/E/G ratio of 12.64 and a beta of 1.86. Kyndryl Holdings, Inc. has a 1-year low of $19.24 and a 1-year 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.