Gabelli Funds LLC Cuts Position in Kyndryl Holdings, Inc. (NYSE:KD)

Gabelli Funds LLC cut its holdings in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 16.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 65,284 shares of the company’s stock after selling 12,405 shares during the quarter. Gabelli Funds LLC’s holdings in Kyndryl were worth $2,259,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. HighTower Advisors LLC raised its stake in shares of Kyndryl by 4.5% in the third quarter. HighTower Advisors LLC now owns 29,677 shares of the company’s stock valued at $666,000 after buying an additional 1,268 shares during the period. Stifel Financial Corp lifted its holdings in Kyndryl by 126.3% during the third quarter. Stifel Financial Corp now owns 91,598 shares of the company’s stock valued at $2,105,000 after purchasing an additional 51,117 shares during the last quarter. Barclays PLC boosted its position in Kyndryl by 49.2% during the third quarter. Barclays PLC now owns 255,958 shares of the company’s stock worth $5,882,000 after purchasing an additional 84,347 shares during the period. Geode Capital Management LLC increased its stake in shares of Kyndryl by 1.7% in the third quarter. Geode Capital Management LLC now owns 3,867,873 shares of the company’s stock worth $88,908,000 after purchasing an additional 63,997 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in shares of Kyndryl in the third quarter valued at approximately $237,000. Institutional investors own 71.53% of the company’s stock.

Analyst Ratings Changes

KD has been the subject of a number of recent research reports. Oppenheimer lifted their price objective on shares of Kyndryl from $37.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday, February 4th. Susquehanna boosted their price objective on Kyndryl from $40.00 to $46.00 and gave the company a “positive” rating in a research note on Wednesday, February 5th.

Kyndryl Trading Down 2.2 %

Kyndryl stock opened at $29.20 on Friday. The stock has a market cap of $6.79 billion, a P/E ratio of 53.08, a PEG ratio of 10.84 and a beta of 1.91. Kyndryl Holdings, Inc. has a fifty-two week low of $19.24 and a fifty-two week high of $43.61. The firm’s fifty day moving average price is $34.42 and its 200-day moving average price is $33.03. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.09 and a current ratio of 1.09.

Insider Buying and Selling at Kyndryl

In other Kyndryl news, General Counsel Edward Sebold sold 27,500 shares of the firm’s stock in a transaction dated 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 sale, the general counsel now owns 132,818 shares in the company, valued at $5,688,594.94. This trade represents a 17.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Vineet Khurana sold 55,465 shares of the company’s stock in a transaction dated 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 transaction, 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 disclosure for this sale can be found here. Insiders own 1.04% of the company’s stock.

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.