Avantax Advisory Services Inc. Takes Position in Kyndryl Holdings, Inc. (NYSE:KD)

Avantax Advisory Services Inc. purchased a new position in shares of Kyndryl Holdings, Inc. (NYSE:KD) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 8,110 shares of the company’s stock, valued at approximately $281,000.

Several other large investors also recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in shares of Kyndryl by 35.1% in the third quarter. FMR LLC now owns 6,036,908 shares of the company’s stock worth $138,728,000 after acquiring an additional 1,569,260 shares during the period. Cinctive Capital Management LP bought a new position in Kyndryl in the 3rd quarter worth about $20,213,000. Mediolanum International Funds Ltd purchased a new position in Kyndryl during the 4th quarter valued at about $16,856,000. Raymond James Financial Inc. bought a new stake in shares of Kyndryl during the fourth quarter valued at about $11,359,000. Finally, Wexford Capital LP bought a new stake in shares of Kyndryl during the third quarter valued at about $6,371,000. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Insider Buying and Selling at Kyndryl

In other Kyndryl news, SVP Vineet Khurana sold 55,465 shares of Kyndryl stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $42.81, for a total transaction of $2,374,456.65. Following the completion of the sale, the senior vice president now owns 43,877 shares of the company’s stock, valued at $1,878,374.37. The trade was a 55.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Edward Sebold sold 27,500 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $42.83, for a total value of $1,177,825.00. Following the transaction, the general counsel now owns 132,818 shares in the company, 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.

Analysts Set New Price Targets

Several brokerages recently commented on KD. Oppenheimer boosted their price objective 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 raised their price target on shares of Kyndryl from $40.00 to $46.00 and gave the company a “positive” rating in a report on Wednesday, February 5th.

Kyndryl Stock Performance

Shares of KD opened at $34.94 on Wednesday. Kyndryl Holdings, Inc. has a 12-month low of $19.24 and a 12-month high of $43.61. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.55. The company has a market cap of $8.13 billion, a PE ratio of 63.53, a price-to-earnings-growth ratio of 10.84 and a beta of 1.85. The stock has a 50-day moving average price of $38.02 and a 200-day moving average price of $32.22.

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.