Kyndryl (NYSE:KD) Shares Down 4.2% – Should You Sell?

Kyndryl Holdings, Inc. (NYSE:KD) shares were down 4.2% on Thursday . The stock traded as low as $38.92 and last traded at $39.11. Approximately 694,638 shares traded hands during trading, a decline of 71% from the average daily volume of 2,375,774 shares. The stock had previously closed at $40.84.

Wall Street Analyst Weigh In

A number of research firms have recently commented on KD. Bank of America started coverage on shares of Kyndryl in a research report on Friday, November 22nd. They issued a “buy” rating and a $40.00 price objective for the company. Susquehanna raised 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. Finally, Oppenheimer boosted their price target on shares of Kyndryl from $37.00 to $43.00 and gave the company an “outperform” rating in a research report on Tuesday, February 4th.

Kyndryl Stock Down 3.0 %

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 fifty day moving average price of $37.91 and a 200 day moving average price of $29.99. The company has a market cap of $9.21 billion, a PE ratio of 71.96, a price-to-earnings-growth ratio of 12.31 and a beta of 1.86.

Insiders Place Their Bets

In other news, General Counsel Edward Sebold sold 27,500 shares of Kyndryl stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $42.83, for a total transaction of $1,177,825.00. Following the completion of 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 SEC, which is accessible through this link. 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 directly owns 43,877 shares in the company, valued at approximately $1,878,374.37. This represents a 55.83 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.04% of the company’s stock.

Institutional Trading of Kyndryl

Hedge funds have recently bought and sold shares of the company. Creative Planning raised its stake in shares of Kyndryl by 3.3% during the third quarter. Creative Planning now owns 42,999 shares of the company’s stock worth $988,000 after acquiring an additional 1,384 shares in the last quarter. Bleakley Financial Group LLC grew its holdings in shares of Kyndryl by 6.2% during the 3rd quarter. Bleakley Financial Group LLC now owns 16,729 shares of the company’s stock valued at $384,000 after purchasing an additional 971 shares during the last quarter. Blue Trust Inc. raised its position in Kyndryl by 34.9% in the 3rd quarter. Blue Trust Inc. now owns 4,334 shares of the company’s stock worth $100,000 after purchasing an additional 1,122 shares during the period. International Assets Investment Management LLC lifted its stake in Kyndryl by 2,035.3% in the third quarter. International Assets Investment Management LLC now owns 40,100 shares of the company’s stock worth $921,000 after purchasing an additional 38,222 shares during the last quarter. Finally, Highland Capital Management LLC purchased a new stake in Kyndryl during the third quarter valued at about $203,000. Institutional investors own 71.53% of the company’s stock.

About Kyndryl

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.