Picton Mahoney Asset Management Invests $38,000 in Kyndryl Holdings, Inc. (NYSE:KD)

Picton Mahoney Asset Management bought a new position in shares of Kyndryl Holdings, Inc. (NYSE:KD) during the 4th quarter, HoldingsChannel reports. The fund bought 1,105 shares of the company’s stock, valued at approximately $38,000.

Other large investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its holdings in shares of Kyndryl by 35.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock worth $39,000 after purchasing an additional 297 shares in the last quarter. AlphaQuest LLC grew its holdings in shares of Kyndryl by 147.3% during the 4th quarter. AlphaQuest LLC now owns 1,877 shares of the company’s stock worth $65,000 after purchasing an additional 1,118 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Kyndryl by 27.1% during the 4th quarter. UMB Bank n.a. now owns 1,916 shares of the company’s stock worth $66,000 after purchasing an additional 408 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of Kyndryl by 27.5% during the 4th quarter. Fifth Third Bancorp now owns 2,299 shares of the company’s stock worth $80,000 after purchasing an additional 496 shares in the last quarter. Finally, IFP Advisors Inc boosted its stake in Kyndryl by 56.4% in the fourth quarter. IFP Advisors Inc now owns 2,457 shares of the company’s stock valued at $85,000 after buying an additional 886 shares in the last quarter. 71.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, General Counsel Edward Sebold sold 27,500 shares of Kyndryl stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $42.83, for a total transaction of $1,177,825.00. Following the sale, the general counsel now directly owns 132,818 shares of the company’s stock, valued at approximately $5,688,594.94. This trade represents a 17.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Vineet Khurana sold 55,465 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now owns 43,877 shares of the company’s stock, valued at $1,878,374.37. This trade represents a 55.83 % 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 Stock Performance

Shares of KD stock opened at $35.26 on Monday. The business’s 50-day moving average price is $38.39 and its 200-day moving average price is $31.64. Kyndryl Holdings, Inc. has a 12 month low of $19.24 and a 12 month high of $43.61. The firm has a market capitalization of $8.20 billion, a price-to-earnings ratio of 64.10, a PEG ratio of 10.84 and a beta of 1.85. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.55.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on KD. Bank of America began 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. Oppenheimer raised their price objective on Kyndryl from $37.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday, February 4th. Finally, Susquehanna raised their price objective on Kyndryl from $40.00 to $46.00 and gave the company a “positive” rating in a research note on Wednesday, February 5th.

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.