Bastion Asset Management Inc. Sells 173,713 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Key Points

• Bastion Asset Management Inc. has reduced its stake in Kyndryl Holdings, Inc. by 57.4%, leaving it with 129,009 shares, constituting approximately 2.3% of its investment portfolio.
• Recent analyst reports show varied opinions on Kyndryl, with Oppenheimer increasing their target price to $55.00 while Susquehanna lowered theirs from $46.00 to $43.00.
• Kyndryl's stock market performance has shown a one-year range of $21.34 to $44.20, with a market capitalization of $9.05 billion.

Bastion Asset Management Inc. decreased its position in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 57.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 129,009 shares of the company's stock after selling 173,713 shares during the quarter. Kyndryl accounts for approximately 2.3% of Bastion Asset Management Inc.'s holdings, making the stock its 20th biggest holding. Bastion Asset Management Inc. owned approximately 0.06% of Kyndryl worth $4,213,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new position in shares of Kyndryl in the first quarter worth about $27,000. True Wealth Design LLC raised its position in Kyndryl by 150.6% in the 4th quarter. True Wealth Design LLC now owns 872 shares of the company's stock worth $30,000 after purchasing an additional 524 shares during the last quarter. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Kyndryl during the 4th quarter worth $30,000. Hollencrest Capital Management boosted its position in Kyndryl by 637.7% in the 1st quarter. Hollencrest Capital Management now owns 900 shares of the company's stock valued at $28,000 after buying an additional 778 shares during the last quarter. Finally, Private Trust Co. NA increased its stake in shares of Kyndryl by 107.9% in the 1st quarter. Private Trust Co. NA now owns 1,021 shares of the company's stock valued at $32,000 after buying an additional 530 shares during the period. 71.53% of the stock is owned by institutional investors.

Kyndryl Trading Up 0.9%

Kyndryl stock traded up $0.35 during midday trading on Monday, hitting $39.47. 1,540,020 shares of the stock were exchanged, compared to its average volume of 1,775,257. The stock has a market capitalization of $9.13 billion, a PE ratio of 50.15, a P/E/G ratio of 0.85 and a beta of 1.93. The company has a fifty day simple moving average of $40.23 and a two-hundred day simple moving average of $37.22. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 2.29. Kyndryl Holdings, Inc. has a 52 week low of $21.34 and a 52 week high of $44.20.

Kyndryl (NYSE:KD - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.52 EPS for the quarter, hitting the consensus estimate of $0.52. Kyndryl had a return on equity of 15.97% and a net margin of 1.67%. The business had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter last year, the business posted ($0.01) EPS. The firm's revenue was down 1.3% compared to the same quarter last year. Equities research analysts anticipate that Kyndryl Holdings, Inc. will post 0.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on KD. Oppenheimer lifted their price objective on Kyndryl from $47.00 to $55.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Susquehanna cut their price objective on shares of Kyndryl from $46.00 to $43.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd. Finally, Wall Street Zen lowered shares of Kyndryl from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th.

Insider Activity

In related news, SVP Vineet Khurana sold 26,451 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $39.14, for a total value of $1,035,292.14. Following the completion of the transaction, the senior vice president directly owned 73,278 shares of the company's stock, valued at approximately $2,868,100.92. This represents a 26.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.90% of the stock is owned by corporate insiders.

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.