Lecap Asset Management Ltd. Acquires New Stake in Kyndryl Holdings, Inc. (NYSE:KD)

Lecap Asset Management Ltd. bought a new position in Kyndryl Holdings, Inc. (NYSE:KD) during the 4th quarter, Holdings Channel reports. The institutional investor bought 39,296 shares of the company’s stock, valued at approximately $1,360,000.

Several other hedge funds have also added to or reduced their stakes in KD. Westfield Capital Management Co. LP raised its holdings in Kyndryl by 62.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 3,259,082 shares of the company’s stock worth $74,894,000 after acquiring an additional 1,254,208 shares during the last quarter. Tidal Investments LLC increased its holdings in shares of Kyndryl by 45.9% in the 3rd quarter. Tidal Investments LLC now owns 102,270 shares of the company’s stock worth $2,350,000 after purchasing an additional 32,173 shares in the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in shares of Kyndryl in the fourth quarter worth $255,000. National Bank of Canada FI lifted its holdings in shares of Kyndryl by 33.7% during the third quarter. National Bank of Canada FI now owns 656,901 shares of the company’s stock valued at $15,096,000 after purchasing an additional 165,481 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Kyndryl by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,968,175 shares of the company’s stock valued at $45,229,000 after buying an additional 76,670 shares during the last quarter. 71.53% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, General Counsel Edward Sebold sold 27,500 shares of the firm’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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Vineet Khurana sold 55,465 shares of Kyndryl stock in a transaction on Thursday, February 6th. The shares were 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 in the company, 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. 1.04% of the stock is currently owned by insiders.

Kyndryl Trading Down 2.7 %

Kyndryl stock opened at $41.78 on Friday. Kyndryl Holdings, Inc. has a 52-week low of $19.24 and a 52-week high of $43.61. The company has a market cap of $9.70 billion, a P/E ratio of -107.12, a P/E/G ratio of 11.00 and a beta of 1.86. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.65. The business has a 50-day simple moving average of $36.73 and a two-hundred day simple moving average of $29.03.

Analysts Set New Price Targets

A number of brokerages have weighed in on KD. Oppenheimer boosted their target price on Kyndryl from $37.00 to $43.00 and gave the stock an “outperform” rating in a research report on Tuesday. Susquehanna boosted their price objective on shares of Kyndryl from $40.00 to $46.00 and gave the company a “positive” rating in a report on Wednesday. Finally, Bank of America started coverage on shares of Kyndryl in a report on Friday, November 22nd. They issued a “buy” rating and a $40.00 target price on the stock.

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.