abrdn plc Sells 43,680 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

abrdn plc reduced its position in shares of Kyndryl Holdings, Inc. (NYSE:KDGet Rating) by 77.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,398 shares of the company’s stock after selling 43,680 shares during the period. abrdn plc’s holdings in Kyndryl were worth $165,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of KD. Duncker Streett & Co. Inc. acquired a new position in shares of Kyndryl during the fourth quarter worth about $27,000. JFS Wealth Advisors LLC acquired a new position in shares of Kyndryl during the fourth quarter worth about $28,000. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Kyndryl during the fourth quarter worth about $34,000. TFC Financial Management acquired a new position in shares of Kyndryl during the fourth quarter worth about $35,000. Finally, SRS Capital Advisors Inc. acquired a new position in shares of Kyndryl during the fourth quarter worth about $36,000. 44.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. initiated coverage on Kyndryl in a research report on Tuesday. They set a “neutral” rating and a $12.00 price target for the company.

Kyndryl Stock Up 2.0 %

Shares of NYSE KD opened at $10.37 on Thursday. Kyndryl Holdings, Inc. has a 52 week low of $9.10 and a 52 week high of $52.00. The stock has a 50 day moving average price of $10.37 and a 200 day moving average price of $12.49. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.27 and a quick ratio of 1.27.

Kyndryl (NYSE:KDGet Rating) last released its quarterly earnings data on Wednesday, May 4th. The company reported ($0.18) earnings per share (EPS) for the quarter. The firm had revenue of $4.43 billion during the quarter. Equities analysts forecast that Kyndryl Holdings, Inc. will post 0.05 earnings per share for the current year.

Insider Activity

In other news, major shareholder Business Machine International sold 22,301,536 shares of the firm’s stock in a transaction that occurred on Thursday, May 19th. The stock was sold at an average price of $13.95, for a total value of $311,106,427.20. Following the completion of the sale, the insider now directly owns 22,301,536 shares of the company’s stock, valued at $311,106,427.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, major shareholder Business Machine International sold 22,301,536 shares of the stock in a transaction that occurred on Thursday, May 19th. The stock was sold at an average price of $13.95, for a total transaction of $311,106,427.20. Following the transaction, the insider now owns 22,301,536 shares in the company, valued at $311,106,427.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Martin J. Schroeter bought 83,700 shares of the stock in a transaction dated Friday, May 13th. The shares were purchased at an average price of $11.35 per share, for a total transaction of $949,995.00. Following the purchase, the chief executive officer now owns 828,040 shares of the company’s stock, valued at approximately $9,398,254. The disclosure for this purchase can be found here. Insiders acquired a total of 133,780 shares of company stock valued at $1,498,513 over the last three months. Insiders own 0.23% of the company’s stock.

Kyndryl Profile

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Kyndryl Holdings, Inc operates as a technology services company and IT infrastructure services provider worldwide. The company offers cloud services; core enterprise and cloud services; application, data, and artificial intelligence services; digital workplace services; security and resiliency services; and network services and edge services.

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Institutional Ownership by Quarter for Kyndryl (NYSE:KD)

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