Edgestream Partners L.P. Sells 75,577 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Edgestream Partners L.P. reduced its position in Kyndryl Holdings, Inc. (NYSE:KD) by 36.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 131,440 shares of the company’s stock after selling 75,577 shares during the period. Edgestream Partners L.P. owned 0.06% of Kyndryl worth $3,458,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new stake in Kyndryl in the 1st quarter valued at about $26,000. ORG Partners LLC raised its stake in Kyndryl by 622.4% in the 1st quarter. ORG Partners LLC now owns 1,416 shares of the company’s stock valued at $31,000 after acquiring an additional 1,220 shares during the period. Fortis Group Advisors LLC raised its stake in Kyndryl by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 1,600 shares of the company’s stock valued at $33,000 after acquiring an additional 800 shares during the period. Atlas Capital Advisors LLC bought a new stake in Kyndryl in the 1st quarter valued at about $33,000. Finally, Headlands Technologies LLC raised its stake in Kyndryl by 60.2% in the 2nd quarter. Headlands Technologies LLC now owns 1,475 shares of the company’s stock valued at $39,000 after acquiring an additional 554 shares during the period. 71.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Oppenheimer began coverage on Kyndryl in a research note on Thursday, June 27th. They issued an “outperform” rating and a $33.00 price objective on the stock. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Kyndryl currently has an average rating of “Buy” and a consensus price target of $29.40.

Kyndryl Stock Down 0.8 %

Shares of NYSE KD opened at $22.95 on Wednesday. Kyndryl Holdings, Inc. has a 12 month low of $13.87 and a 12 month high of $28.60. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.82. The firm has a market capitalization of $5.29 billion, a price-to-earnings ratio of -15.40, a PEG ratio of 4.77 and a beta of 1.64. The business has a 50-day moving average of $24.33 and a 200-day moving average of $23.95.

Kyndryl (NYSE:KD) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.02 by $0.03. The company had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.78 billion. Kyndryl had a negative return on equity of 3.28% and a negative net margin of 1.21%. Sell-side analysts expect that Kyndryl Holdings, Inc. will post 0.95 earnings per share for the current fiscal year.

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.