Wells Fargo & Company MN Sells 70,992 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Wells Fargo & Company MN lessened its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 23.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 225,705 shares of the company’s stock after selling 70,992 shares during the period. Wells Fargo & Company MN owned approximately 0.10% of Kyndryl worth $7,809,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KD. Arrowstreet Capital Limited Partnership grew its stake in shares of Kyndryl by 123.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,683,060 shares of the company’s stock worth $127,434,000 after acquiring an additional 2,033,549 shares during the last quarter. Mediolanum International Funds Ltd bought a new position in Kyndryl in the 4th quarter worth about $16,856,000. Trexquant Investment LP grew its position in Kyndryl by 656.2% during the 4th quarter. Trexquant Investment LP now owns 547,462 shares of the company’s stock valued at $18,942,000 after purchasing an additional 475,063 shares during the last quarter. Norges Bank bought a new stake in Kyndryl during the 4th quarter valued at about $14,323,000. Finally, Loomis Sayles & Co. L P purchased a new position in Kyndryl in the fourth quarter worth about $13,133,000. Institutional investors own 71.53% of the company’s stock.

Kyndryl Price Performance

KD opened at $29.20 on Friday. The company’s 50-day simple moving average is $34.63 and its two-hundred day simple moving average is $32.98. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market capitalization of $6.79 billion, a P/E ratio of 53.08, a P/E/G ratio of 10.84 and a beta of 1.91. Kyndryl Holdings, Inc. has a 52-week low of $19.24 and a 52-week high of $43.61.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Susquehanna increased 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. Oppenheimer increased their target price on Kyndryl from $37.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday, February 4th.

Insider Activity

In related news, SVP Vineet Khurana sold 55,465 shares of Kyndryl stock in a transaction 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 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 legal filing with the SEC, which is available at this link. 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 in the company, valued at approximately $5,688,594.94. This represents a 17.15 % decrease in their position. The disclosure for this sale can be found here. 1.04% of the stock is owned by corporate insiders.

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.