JPMorgan Chase & Co. Grows Position in Kyndryl Holdings, Inc. (NYSE:KD)

JPMorgan Chase & Co. boosted its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 17.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 533,265 shares of the company’s stock after acquiring an additional 81,148 shares during the period. JPMorgan Chase & Co.’s holdings in Kyndryl were worth $18,451,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Kyndryl by 545.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 23,113 shares of the company’s stock worth $861,000 after buying an additional 19,531 shares during the period. Financial Counselors Inc. purchased a new stake in Kyndryl during the fourth quarter valued at about $324,000. TIAA Trust National Association purchased a new position in shares of Kyndryl in the 4th quarter worth about $231,000. Prudential Financial Inc. raised its holdings in shares of Kyndryl by 77.8% in the 4th quarter. Prudential Financial Inc. now owns 515,413 shares of the company’s stock worth $17,833,000 after purchasing an additional 225,463 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Kyndryl by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 27,873,819 shares of the company’s stock valued at $964,434,000 after purchasing an additional 79,575 shares in the last quarter. Institutional investors and hedge funds own 71.53% of the company’s stock.

Kyndryl Stock Performance

Kyndryl stock opened at $29.42 on Friday. The firm has a market capitalization of $6.85 billion, a PE ratio of 53.49, a price-to-earnings-growth ratio of 10.84 and a beta of 1.91. Kyndryl Holdings, Inc. has a one year low of $19.24 and a one year high of $43.61. The stock’s 50 day moving average price is $35.63 and its 200 day moving average price is $32.86. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.09 and a current ratio of 1.09.

Analyst Upgrades and Downgrades

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

Insider Activity

In other 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 sale, the senior vice president now directly owns 43,877 shares of the company’s stock, valued at approximately $1,878,374.37. The trade was a 55.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders own 1.04% of the company’s stock.

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.