302,722 Shares in Kyndryl Holdings, Inc. (NYSE:KD) Acquired by Bastion Asset Management Inc.

Bastion Asset Management Inc. bought a new stake in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 302,722 shares of the company's stock, valued at approximately $10,474,000. Kyndryl accounts for about 6.9% of Bastion Asset Management Inc.'s portfolio, making the stock its 2nd largest holding. Bastion Asset Management Inc. owned about 0.13% of Kyndryl as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in KD. Tidal Investments LLC grew its position in Kyndryl by 45.9% in the third quarter. Tidal Investments LLC now owns 102,270 shares of the company's stock valued at $2,350,000 after acquiring an additional 32,173 shares in the last quarter. Fifth Third Wealth Advisors LLC acquired a new stake in Kyndryl during the 4th quarter valued at $255,000. Dakota Wealth Management purchased a new stake in Kyndryl during the 4th quarter worth $1,221,000. Harbor Capital Advisors Inc. acquired a new position in Kyndryl in the 4th quarter worth $2,775,000. Finally, Sky Investment Group LLC boosted its position in Kyndryl by 11.7% in the 4th quarter. Sky Investment Group LLC now owns 88,335 shares of the company's stock valued at $3,056,000 after buying an additional 9,240 shares during the last quarter. Hedge funds and other institutional investors own 71.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on KD. Oppenheimer lifted their target price on Kyndryl from $37.00 to $43.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 4th. Susquehanna dropped their price objective on Kyndryl from $46.00 to $43.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd.

Insider Buying and Selling

In other Kyndryl news, SVP Vineet Khurana sold 55,465 shares of the business's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $42.81, for a total transaction of $2,374,456.65. Following the completion of the sale, the senior vice president now owns 43,877 shares in the company, valued at $1,878,374.37. The trade was a 55.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Edward Sebold sold 27,500 shares of the firm's 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 completion of the transaction, the general counsel now owns 132,818 shares in the company, valued at approximately $5,688,594.94. The trade was a 17.15 % 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 Down 0.6 %

KD stock traded down $0.19 during mid-day trading on Wednesday, hitting $33.08. 2,778,292 shares of the company were exchanged, compared to its average volume of 2,051,212. The company has a market capitalization of $7.70 billion, a PE ratio of 60.15, a price-to-earnings-growth ratio of 10.84 and a beta of 1.91. The firm has a fifty day simple moving average of $32.52 and a 200 day simple moving average of $33.72. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.55. Kyndryl Holdings, Inc. has a twelve month low of $21.34 and a twelve month high of $43.61.

Kyndryl Profile

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.