Cinctive Capital Management LP Invests $20.21 Million in Kyndryl Holdings, Inc. (NYSE:KD)

Cinctive Capital Management LP acquired a new stake in shares of Kyndryl Holdings, Inc. (NYSE:KD) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 879,576 shares of the company’s stock, valued at approximately $20,213,000. Kyndryl comprises about 1.1% of Cinctive Capital Management LP’s investment portfolio, making the stock its 7th biggest position. Cinctive Capital Management LP owned about 0.38% of Kyndryl at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of KD. Price T Rowe Associates Inc. MD raised its stake in shares of Kyndryl by 5.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 129,703 shares of the company’s stock worth $2,823,000 after purchasing an additional 6,959 shares during the last quarter. Tidal Investments LLC boosted its holdings in shares of Kyndryl by 240.7% during the 1st quarter. Tidal Investments LLC now owns 55,778 shares of the company’s stock valued at $1,214,000 after acquiring an additional 39,408 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Kyndryl by 65.8% in the second quarter. GAMMA Investing LLC now owns 2,490 shares of the company’s stock worth $66,000 after acquiring an additional 988 shares during the period. Fulton Bank N.A. raised its holdings in shares of Kyndryl by 20.7% during the second quarter. Fulton Bank N.A. now owns 21,062 shares of the company’s stock valued at $554,000 after purchasing an additional 3,606 shares during the last quarter. Finally, CWM LLC lifted its position in Kyndryl by 32.2% during the second quarter. CWM LLC now owns 6,329 shares of the company’s stock valued at $167,000 after purchasing an additional 1,543 shares during the period. 71.53% of the stock is currently owned by institutional investors.

Kyndryl Price Performance

Shares of Kyndryl stock opened at $34.71 on Monday. The stock’s fifty day moving average is $26.09 and its 200 day moving average is $25.50. Kyndryl Holdings, Inc. has a one year low of $17.78 and a one year high of $35.23. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market cap of $8.06 billion, a P/E ratio of -89.00, a P/E/G ratio of 8.36 and a beta of 1.63.

Analyst Upgrades and Downgrades

A number of research firms have commented on KD. Susquehanna lifted their target price on shares of Kyndryl from $33.00 to $40.00 and gave the stock a “positive” rating in a research report on Friday, November 22nd. Oppenheimer lifted their price objective on Kyndryl from $33.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Finally, Bank of America started coverage on Kyndryl in a report on Friday, November 22nd. They issued a “buy” rating and a $40.00 target price on the stock. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $33.00.

Kyndryl 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.