Cinctive Capital Management LP Sells 405,790 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Cinctive Capital Management LP cut its position in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 46.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 473,786 shares of the company’s stock after selling 405,790 shares during the period. Kyndryl comprises about 0.8% of Cinctive Capital Management LP’s investment portfolio, making the stock its 21st largest position. Cinctive Capital Management LP owned about 0.20% of Kyndryl worth $16,393,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in Kyndryl by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 27,873,819 shares of the company’s stock worth $964,434,000 after purchasing an additional 79,575 shares during the period. FMR LLC raised its holdings in shares of Kyndryl by 35.1% in the 3rd quarter. FMR LLC now owns 6,036,908 shares of the company’s stock worth $138,728,000 after buying an additional 1,569,260 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Kyndryl by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,867,873 shares of the company’s stock worth $88,908,000 after buying an additional 63,997 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Kyndryl by 123.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,683,060 shares of the company’s stock valued at $127,434,000 after buying an additional 2,033,549 shares in the last quarter. Finally, Zimmer Partners LP grew its position in Kyndryl by 1.9% in the third quarter. Zimmer Partners LP now owns 2,723,895 shares of the company’s stock valued at $62,595,000 after acquiring an additional 49,738 shares during the period. 71.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on KD shares. Susquehanna lifted their price objective on 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 shares of Kyndryl from $37.00 to $43.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 4th.

Insider Activity

In other Kyndryl news, General Counsel Edward Sebold sold 27,500 shares of the company’s stock in a transaction on 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 transaction, the general counsel now owns 132,818 shares of the company’s stock, valued at approximately $5,688,594.94. This represents a 17.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Vineet Khurana sold 55,465 shares of the stock in a transaction on 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 transaction, the senior vice president now owns 43,877 shares in the company, valued at $1,878,374.37. The trade was a 55.83 % 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 corporate insiders.

Kyndryl Trading Up 2.4 %

KD stock opened at $32.16 on Wednesday. The business has a fifty day moving average price of $37.40 and a 200 day moving average price of $32.55. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.09 and a quick ratio of 1.09. Kyndryl Holdings, Inc. has a fifty-two week low of $19.24 and a fifty-two week high of $43.61. The stock has a market capitalization of $7.48 billion, a price-to-earnings ratio of 58.47, a P/E/G ratio of 10.84 and a beta of 1.85.

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.