Truist Financial Corp Boosts Stock Position in Kyndryl Holdings, Inc. (NYSE:KD)

Truist Financial Corp grew its stake in Kyndryl Holdings, Inc. (NYSE:KDGet Rating) by 9.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,051 shares of the company’s stock after acquiring an additional 3,970 shares during the quarter. Truist Financial Corp’s holdings in Kyndryl were worth $373,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Goldman Sachs Group Inc. grew its holdings in shares of Kyndryl by 3,628.6% during the second quarter. Goldman Sachs Group Inc. now owns 17,387,317 shares of the company’s stock valued at $170,048,000 after buying an additional 16,920,997 shares during the last quarter. Bank of Nova Scotia purchased a new stake in Kyndryl during the 2nd quarter valued at $50,044,000. National Bank of Canada FI increased its holdings in shares of Kyndryl by 4,594.5% in the 2nd quarter. National Bank of Canada FI now owns 3,120,770 shares of the company’s stock worth $30,521,000 after purchasing an additional 3,054,293 shares in the last quarter. Greenlight Capital Inc. raised its stake in shares of Kyndryl by 122.0% in the second quarter. Greenlight Capital Inc. now owns 5,373,400 shares of the company’s stock worth $52,552,000 after purchasing an additional 2,953,000 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its holdings in shares of Kyndryl by 110.6% during the first quarter. Neuberger Berman Group LLC now owns 2,666,297 shares of the company’s stock valued at $34,984,000 after purchasing an additional 1,399,954 shares in the last quarter. 62.96% of the stock is owned by hedge funds and other institutional investors.

Kyndryl Stock Performance

KD stock opened at $12.80 on Wednesday. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.08 and a quick ratio of 1.08. Kyndryl Holdings, Inc. has a 1 year low of $7.93 and a 1 year high of $17.08. The company has a market cap of $2.90 billion, a P/E ratio of -1.92 and a beta of 1.59. The stock’s fifty day moving average price is $11.40 and its 200-day moving average price is $10.49.

Kyndryl (NYSE:KDGet Rating) last posted its earnings results on Wednesday, November 2nd. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.02). Kyndryl had a negative net margin of 8.59% and a negative return on equity of 51.01%. The firm had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.06 billion. On average, equities analysts forecast that Kyndryl Holdings, Inc. will post -3.25 earnings per share for the current year.

Insider Activity at Kyndryl

In other Kyndryl news, insider Elly Keinan acquired 23,800 shares of the business’s stock in a transaction dated Wednesday, November 9th. The stock was purchased at an average price of $9.19 per share, with a total value of $218,722.00. Following the transaction, the insider now directly owns 651,309 shares in the company, valued at approximately $5,985,529.71. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CFO David B. Wyshner bought 20,000 shares of Kyndryl stock in a transaction that occurred on Monday, November 7th. The stock was bought at an average cost of $9.13 per share, with a total value of $182,600.00. Following the acquisition, the chief financial officer now owns 476,406 shares of the company’s stock, valued at approximately $4,349,586.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Elly Keinan purchased 23,800 shares of the company’s stock in a transaction on Wednesday, November 9th. The stock was purchased at an average price of $9.19 per share, with a total value of $218,722.00. Following the completion of the transaction, the insider now owns 651,309 shares of the company’s stock, valued at $5,985,529.71. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 152,800 shares of company stock worth $1,456,442. 0.23% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

KD has been the subject of several research analyst reports. Susquehanna initiated coverage on Kyndryl in a report on Thursday, January 12th. They issued a “neutral” rating and a $14.00 price objective for the company. JPMorgan Chase & Co. lifted their price target on shares of Kyndryl from $11.00 to $13.00 in a research note on Thursday, December 15th.

Kyndryl Profile

(Get Rating)

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.

Further Reading

Institutional Ownership by Quarter for Kyndryl (NYSE:KD)

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