Allianz Asset Management GmbH Acquires 38,291 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Allianz Asset Management GmbH boosted its holdings in Kyndryl Holdings, Inc. (NYSE:KD) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 719,402 shares of the company’s stock after purchasing an additional 38,291 shares during the quarter. Allianz Asset Management GmbH’s holdings in Kyndryl were worth $24,891,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Handelsbanken Fonder AB increased its holdings in Kyndryl by 5.1% in the fourth quarter. Handelsbanken Fonder AB now owns 59,500 shares of the company’s stock worth $2,059,000 after purchasing an additional 2,900 shares in the last quarter. Ieq Capital LLC bought a new stake in Kyndryl in the fourth quarter worth approximately $3,503,000. New York State Common Retirement Fund increased its holdings in shares of Kyndryl by 0.6% during the fourth quarter. New York State Common Retirement Fund now owns 532,560 shares of the company’s stock valued at $18,427,000 after acquiring an additional 2,999 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Kyndryl during the fourth quarter valued at approximately $200,000. Finally, Truist Financial Corp increased its holdings in shares of Kyndryl by 8.9% during the fourth quarter. Truist Financial Corp now owns 19,766 shares of the company’s stock valued at $684,000 after acquiring an additional 1,613 shares in the last quarter. 71.53% of the stock is currently owned by institutional investors.

Kyndryl Stock Down 3.4 %

Shares of NYSE:KD opened at $37.12 on Tuesday. The stock has a market cap of $8.64 billion, a price-to-earnings ratio of 67.48, a PEG ratio of 10.84 and a beta of 1.86. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.55. Kyndryl Holdings, Inc. has a 12-month low of $19.24 and a 12-month high of $43.61. The business’s 50 day moving average is $38.08 and its 200 day moving average is $30.38.

Insider Activity at Kyndryl

In other Kyndryl news, General Counsel Edward Sebold sold 27,500 shares of the business’s 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 transaction, the general counsel now 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Vineet Khurana sold 55,465 shares of the business’s stock in a transaction on 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 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. 1.04% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on KD. Oppenheimer boosted their price objective on Kyndryl from $37.00 to $43.00 and gave the company an “outperform” rating in a report 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 report on Wednesday, February 5th. Finally, Bank of America began coverage on Kyndryl in a report on Friday, November 22nd. They set a “buy” rating and a $40.00 price objective for the company.

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.