State of New Jersey Common Pension Fund D lifted its stake in Kyndryl Holdings, Inc. (NYSE:KD – Get Rating) by 10.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 168,930 shares of the company’s stock after purchasing an additional 15,537 shares during the period. State of New Jersey Common Pension Fund D owned 0.08% of Kyndryl worth $2,216,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Duncker Streett & Co. Inc. bought a new position in Kyndryl in the 4th quarter worth $27,000. JFS Wealth Advisors LLC bought a new position in Kyndryl in the 4th quarter worth $28,000. Edmond DE Rothschild Holding S.A. bought a new position in Kyndryl in the 4th quarter worth $34,000. TFC Financial Management bought a new position in Kyndryl in the 4th quarter worth $35,000. Finally, SRS Capital Advisors Inc. bought a new position in Kyndryl in the 4th quarter worth $36,000. 44.48% of the stock is currently owned by hedge funds and other institutional investors.
Kyndryl Stock Performance
KD opened at $10.37 on Thursday. The firm has a 50-day simple moving average of $10.37 and a two-hundred day simple moving average of $12.49. Kyndryl Holdings, Inc. has a 52 week low of $9.10 and a 52 week high of $52.00. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.27 and a quick ratio of 1.27.
Analyst Upgrades and Downgrades
Separately, JPMorgan Chase & Co. began coverage on shares of Kyndryl in a report on Tuesday. They issued a “neutral” rating and a $12.00 target price for the company.
Insider Buying and Selling at Kyndryl
In other news, major shareholder Business Machine International sold 22,301,536 shares of the company’s stock in a transaction dated Thursday, May 19th. The shares were sold at an average price of $13.95, for a total transaction of $311,106,427.20. Following the sale, the insider now directly owns 22,301,536 shares in the company, valued at approximately $311,106,427.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Kyndryl news, CEO Martin J. Schroeter bought 83,700 shares of the firm’s stock in a transaction dated Friday, May 13th. The shares were purchased at an average cost of $11.35 per share, for a total transaction of $949,995.00. Following the transaction, the chief executive officer now owns 828,040 shares of the company’s stock, valued at $9,398,254. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Business Machine International sold 22,301,536 shares of the company’s stock in a transaction dated Thursday, May 19th. The shares were sold at an average price of $13.95, for a total transaction of $311,106,427.20. Following the sale, the insider now owns 22,301,536 shares in the company, valued at $311,106,427.20. The disclosure for this sale can be found here. Insiders purchased 133,780 shares of company stock valued at $1,498,513 in the last 90 days. Insiders own 0.23% of the company’s stock.
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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