Oak Thistle LLC Takes Position in Kyndryl Holdings, Inc. (NYSE:KD)

Key Points

• Oak Thistle LLC has acquired a new stake in Kyndryl Holdings, Inc., purchasing 6,933 shares valued at approximately $218,000.
• Several institutional investors, including FMR LLC, Arrowstreet Capital, and Deutsche Bank AG, have significantly increased their holdings in Kyndryl during the fourth quarter.
• Kyndryl recently reported a quarterly revenue of $3.80 billion, aligning with analyst estimates, but noted a 1.3% decline compared to the same period last year.

Oak Thistle LLC purchased a new stake in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 6,933 shares of the company's stock, valued at approximately $218,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Opal Wealth Advisors LLC acquired a new stake in shares of Kyndryl during the 1st quarter worth approximately $27,000. Hollencrest Capital Management increased its stake in Kyndryl by 637.7% during the first quarter. Hollencrest Capital Management now owns 900 shares of the company's stock worth $28,000 after acquiring an additional 778 shares during the last quarter. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Kyndryl during the fourth quarter worth $30,000. True Wealth Design LLC increased its stake in Kyndryl by 150.6% during the fourth quarter. True Wealth Design LLC now owns 872 shares of the company's stock worth $30,000 after acquiring an additional 524 shares during the last quarter. Finally, Private Trust Co. NA increased its stake in Kyndryl by 107.9% during the first quarter. Private Trust Co. NA now owns 1,021 shares of the company's stock worth $32,000 after acquiring an additional 530 shares during the last quarter. Institutional investors and hedge funds own 71.53% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on KD shares. Oppenheimer boosted their price objective on shares of Kyndryl from $47.00 to $55.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Wall Street Zen cut shares of Kyndryl from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. Finally, Susquehanna dropped their price target on shares of Kyndryl from $46.00 to $43.00 and set a "positive" rating for the company in a research report on Wednesday, April 23rd.

Insider Activity at Kyndryl

In other Kyndryl news, SVP Vineet Khurana sold 26,451 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $39.14, for a total transaction of $1,035,292.14. Following the completion of the transaction, the senior vice president owned 73,278 shares in the company, valued at $2,868,100.92. The trade was a 26.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.90% of the company's stock.

Kyndryl Trading Down 2.3%

Shares of NYSE KD traded down $0.92 during trading on Tuesday, reaching $38.55. The stock had a trading volume of 379,479 shares, compared to its average volume of 2,155,042. The company has a market cap of $8.92 billion, a P/E ratio of 37.44, a PEG ratio of 0.85 and a beta of 1.93. The company has a debt-to-equity ratio of 2.29, a quick ratio of 1.07 and a current ratio of 1.07. The business's 50-day moving average price is $40.22 and its 200-day moving average price is $37.24. Kyndryl Holdings, Inc. has a fifty-two week low of $21.34 and a fifty-two week high of $44.20.

Kyndryl (NYSE:KD - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.52 earnings per share for the quarter, meeting the consensus estimate 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 the consensus estimate of $3.77 billion. During the same period in the previous year, the company posted ($0.01) EPS. Kyndryl's revenue was down 1.3% compared to the same quarter last year. On average, equities research analysts predict that Kyndryl Holdings, Inc. will post 0.73 EPS for the current fiscal year.

Kyndryl Company 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.