Commerce Bank Decreases Holdings in Kyndryl Holdings, Inc. (NYSE:KD)

Commerce Bank lowered its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,047 shares of the company’s stock after selling 347 shares during the period. Commerce Bank’s holdings in Kyndryl were worth $1,870,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Tidal Investments LLC lifted its holdings in Kyndryl by 45.9% in the 3rd quarter. Tidal Investments LLC now owns 102,270 shares of the company’s stock valued at $2,350,000 after purchasing an additional 32,173 shares in the last quarter. Fifth Third Wealth Advisors LLC acquired a new position in Kyndryl during the fourth quarter worth about $255,000. Dakota Wealth Management purchased a new stake in Kyndryl during the 4th quarter valued at about $1,221,000. Harbor Capital Advisors Inc. acquired a new stake in Kyndryl in the 4th quarter valued at about $2,775,000. Finally, Sky Investment Group LLC lifted its stake in Kyndryl by 11.7% in the 4th quarter. Sky Investment Group LLC now owns 88,335 shares of the company’s stock worth $3,056,000 after purchasing an additional 9,240 shares in the last quarter. Institutional investors and hedge funds own 71.53% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, General Counsel Edward Sebold sold 27,500 shares of the business’s stock in a transaction that occurred on 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 sale, the general counsel now directly owns 132,818 shares of the company’s stock, valued at approximately $5,688,594.94. The trade was a 17.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Vineet Khurana sold 55,465 shares of Kyndryl stock in a transaction that occurred on Thursday, February 6th. The shares were 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. This trade represents a 55.83 % decrease in their position. The disclosure for this sale can be found here. 1.04% of the stock is currently owned by company insiders.

Kyndryl Stock Down 1.3 %

Shares of NYSE KD opened at $28.85 on Tuesday. The company has a market capitalization of $6.71 billion, a P/E ratio of 52.45, a P/E/G ratio of 10.84 and a beta of 1.91. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.09 and a quick ratio of 1.09. The company has a 50 day simple moving average of $34.17 and a 200-day simple moving average of $33.20. Kyndryl Holdings, Inc. has a 1 year low of $19.24 and a 1 year high of $43.61.

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.