Summit Investment Advisors Inc. Sells 912 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Summit Investment Advisors Inc. cut its holdings in Kyndryl Holdings, Inc. (NYSE:KD) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,523 shares of the company’s stock after selling 912 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Kyndryl were worth $1,610,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. FMR LLC increased its stake in shares of Kyndryl by 105.5% during the fourth quarter. FMR LLC now owns 12,408,449 shares of the company’s stock valued at $429,332,000 after buying an additional 6,371,541 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Kyndryl by 123.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,683,060 shares of the company’s stock valued at $127,434,000 after acquiring an additional 2,033,549 shares in the last quarter. Invesco Ltd. raised its holdings in Kyndryl by 39.9% in the 4th quarter. Invesco Ltd. now owns 2,346,142 shares of the company’s stock worth $81,177,000 after purchasing an additional 669,097 shares in the last quarter. Mediolanum International Funds Ltd purchased a new stake in shares of Kyndryl in the 4th quarter worth about $16,856,000. Finally, Trexquant Investment LP boosted its stake in shares of Kyndryl by 656.2% during the 4th quarter. Trexquant Investment LP now owns 547,462 shares of the company’s stock valued at $18,942,000 after purchasing an additional 475,063 shares in the last quarter. Hedge funds and other institutional investors own 71.53% of the company’s stock.

Kyndryl Trading Up 1.4 %

Shares of NYSE KD opened at $30.27 on Wednesday. Kyndryl Holdings, Inc. has a 1 year low of $19.24 and a 1 year high of $43.61. 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 firm has a 50-day moving average of $35.11 and a 200 day moving average of $32.96. The stock has a market cap of $7.04 billion, a P/E ratio of 55.03, a price-to-earnings-growth ratio of 10.84 and a beta of 1.91.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Susquehanna increased their price target on shares of Kyndryl from $40.00 to $46.00 and gave the stock a “positive” rating in a research note on Wednesday, February 5th. Oppenheimer increased their target price on Kyndryl from $37.00 to $43.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 4th.

Insider Buying and Selling at Kyndryl

In other Kyndryl news, SVP Vineet Khurana sold 55,465 shares of Kyndryl stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $42.81, for a total transaction 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 approximately $1,878,374.37. The trade was a 55.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Edward Sebold sold 27,500 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $42.83, for a total value of $1,177,825.00. Following the completion of the sale, the general counsel now directly owns 132,818 shares in the company, valued at approximately $5,688,594.94. This represents a 17.15 % 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 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.