Kyndryl Holdings, Inc. (NYSE:KD) Stock Holdings Lowered by AdvisorNet Financial Inc

AdvisorNet Financial Inc trimmed its holdings in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 8.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,897 shares of the company’s stock after selling 510 shares during the period. AdvisorNet Financial Inc’s holdings in Kyndryl were worth $155,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC acquired a new position in Kyndryl in the 1st quarter worth approximately $26,000. ORG Partners LLC lifted its stake in Kyndryl by 622.4% in the 1st quarter. ORG Partners LLC now owns 1,416 shares of the company’s stock worth $31,000 after acquiring an additional 1,220 shares in the last quarter. Fortis Group Advisors LLC boosted its position in Kyndryl by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 1,600 shares of the company’s stock worth $33,000 after acquiring an additional 800 shares during the period. Atlas Capital Advisors LLC purchased a new position in Kyndryl during the 1st quarter valued at about $33,000. Finally, Pingora Partners LLC purchased a new stake in shares of Kyndryl in the fourth quarter worth approximately $50,000. Institutional investors and hedge funds own 71.53% of the company’s stock.

Insider Transactions at Kyndryl

In related news, SVP Vineet Khurana sold 30,430 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $26.36, for a total value of $802,134.80. Following the completion of the transaction, the senior vice president now directly owns 78,722 shares in the company, valued at $2,075,111.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.04% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Susquehanna boosted their price objective on shares of Kyndryl from $27.00 to $33.00 and gave the company a “positive” rating in a research report on Thursday, May 9th. Oppenheimer assumed coverage on shares of Kyndryl in a report on Thursday, June 27th. They issued an “outperform” rating and a $33.00 price objective for the company. Finally, Scotiabank raised their target price on Kyndryl from $28.00 to $30.00 and gave the company a “sector outperform” rating in a report on Monday, May 13th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $29.40.

Kyndryl Stock Performance

Shares of Kyndryl stock traded up $0.51 during midday trading on Thursday, hitting $23.67. The company had a trading volume of 667,434 shares, compared to its average volume of 1,751,315. Kyndryl Holdings, Inc. has a 1-year low of $13.87 and a 1-year high of $28.60. The business’s 50 day simple moving average is $25.59 and its two-hundred day simple moving average is $23.60. The stock has a market cap of $5.46 billion, a PE ratio of -15.55, a P/E/G ratio of 4.71 and a beta of 1.67. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.03 and a quick ratio of 1.03.

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.