32,873 Shares in Kyndryl Holdings, Inc. (NYSE:KD) Purchased by Friedenthal Financial

Friedenthal Financial bought a new stake in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The fund bought 32,873 shares of the company's stock, valued at approximately $1,032,000.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Kyndryl by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 27,873,819 shares of the company's stock worth $964,434,000 after buying an additional 79,575 shares in the last quarter. FMR LLC lifted its holdings in shares of Kyndryl by 105.5% during the fourth quarter. FMR LLC now owns 12,408,449 shares of the company's stock valued at $429,332,000 after acquiring an additional 6,371,541 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Kyndryl by 123.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,683,060 shares of the company's stock valued at $127,434,000 after acquiring an additional 2,033,549 shares during the period. GMT Capital Corp lifted its holdings in shares of Kyndryl by 16.4% during the fourth quarter. GMT Capital Corp now owns 2,973,560 shares of the company's stock valued at $102,885,000 after acquiring an additional 418,900 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Kyndryl by 39.9% during the fourth quarter. Invesco Ltd. now owns 2,346,142 shares of the company's stock valued at $81,177,000 after acquiring an additional 669,097 shares during the period. 71.53% of the stock is currently owned by institutional investors and hedge funds.

Kyndryl Price Performance

Shares of NYSE:KD traded down $1.69 during midday trading on Friday, reaching $38.52. The company's stock had a trading volume of 3,047,561 shares, compared to its average volume of 1,994,465. Kyndryl Holdings, Inc. has a fifty-two week low of $21.34 and a fifty-two week high of $43.61. The company has a market capitalization of $8.92 billion, a P/E ratio of 37.40, a P/E/G ratio of 0.87 and a beta of 1.95. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.07 and a quick ratio of 1.07. The business's fifty day simple moving average is $36.65 and its 200-day simple moving average is $36.29.

Kyndryl (NYSE:KD - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.52 earnings per share for the quarter, meeting analysts' consensus estimates of $0.52. Kyndryl had a return on equity of 15.97% and a net margin of 1.67%. The company had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same period last year, the company posted ($0.01) earnings per share. The firm's quarterly revenue was down 1.3% compared to the same quarter last year. As a group, equities research analysts expect that Kyndryl Holdings, Inc. will post 0.73 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Oppenheimer lifted their price objective on Kyndryl from $43.00 to $47.00 and gave the company an "outperform" rating in a report on Tuesday, May 13th. Wall Street Zen raised Kyndryl from a "buy" rating to a "strong-buy" rating in a report on Saturday. Finally, Susquehanna cut their price objective on Kyndryl from $46.00 to $43.00 and set a "positive" rating for the company in a report on Wednesday, April 23rd.

Insider Activity

In related news, SVP Vineet Khurana sold 26,451 shares of Kyndryl stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $39.14, for a total value of $1,035,292.14. Following the completion of the sale, the senior vice president now directly owns 73,278 shares in the company, valued at $2,868,100.92. This trade represents a 26.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.04% of the stock is currently 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.