Jag Capital Management LLC Sells 1,123 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Jag Capital Management LLC lessened its holdings in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 11.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,461 shares of the company’s stock after selling 1,123 shares during the quarter. Jag Capital Management LLC’s holdings in Kyndryl were worth $293,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Westover Capital Advisors LLC raised its stake in Kyndryl by 2.0% during the 4th quarter. Westover Capital Advisors LLC now owns 61,783 shares of the company’s stock valued at $2,138,000 after purchasing an additional 1,235 shares during the period. Quintet Private Bank Europe S.A. bought a new stake in Kyndryl in the 4th quarter worth approximately $1,421,000. SBI Securities Co. Ltd. bought a new stake in Kyndryl in the 4th quarter worth approximately $379,000. Jones Financial Companies Lllp increased its stake in Kyndryl by 26.2% in the 4th quarter. Jones Financial Companies Lllp now owns 5,134 shares of the company’s stock worth $178,000 after acquiring an additional 1,065 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in Kyndryl in the 4th quarter worth approximately $515,000. Institutional investors own 71.53% of the company’s stock.

Insider Activity

In related news, 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 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 $1,878,374.37. The trade was a 55.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Edward Sebold sold 27,500 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were 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 position. The disclosure for this sale can be found here. Corporate insiders own 1.04% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Bank of America assumed coverage on Kyndryl in a research note on Friday, November 22nd. They issued a “buy” rating and a $40.00 price objective on the stock. Susquehanna lifted their price objective on Kyndryl from $40.00 to $46.00 and gave the stock a “positive” rating in a research note on Wednesday, February 5th. Finally, Oppenheimer boosted their target price on Kyndryl from $37.00 to $43.00 and gave the company an “outperform” rating in a research report on Tuesday, February 4th.

Kyndryl Stock Performance

NYSE KD opened at $37.43 on Tuesday. The company has a market cap of $8.71 billion, a P/E ratio of 68.05, a P/E/G ratio of 10.84 and a beta of 1.86. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.09 and a current ratio of 1.09. The business’s 50 day moving average price is $38.34 and its 200-day moving average price is $30.81. Kyndryl Holdings, Inc. has a fifty-two week low of $19.24 and a fifty-two week high of $43.61.

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.