Wells Fargo & Company MN Sells 70,992 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Wells Fargo & Company MN lowered its stake in shares of Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 23.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 225,705 shares of the company's stock after selling 70,992 shares during the quarter. Wells Fargo & Company MN owned about 0.10% of Kyndryl worth $7,809,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Millstone Evans Group LLC bought a new stake in shares of Kyndryl during the 4th quarter worth $35,000. Picton Mahoney Asset Management bought a new stake in Kyndryl during the fourth quarter valued at about $38,000. EverSource Wealth Advisors LLC grew its position in shares of Kyndryl by 35.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company's stock valued at $39,000 after purchasing an additional 297 shares during the last quarter. Sandy Spring Bank grew its position in shares of Kyndryl by 41.2% in the fourth quarter. Sandy Spring Bank now owns 1,514 shares of the company's stock valued at $52,000 after purchasing an additional 442 shares during the last quarter. Finally, Lee Danner & Bass Inc. bought a new position in shares of Kyndryl in the fourth quarter worth about $60,000. Institutional investors and hedge funds own 71.53% of the company's stock.

Kyndryl Stock Performance

KD stock traded up $1.97 during midday trading on Wednesday, hitting $31.80. The stock had a trading volume of 310,862 shares, compared to its average volume of 2,482,694. Kyndryl Holdings, Inc. has a 52 week low of $19.24 and a 52 week high of $43.61. The firm has a market capitalization of $7.40 billion, a price-to-earnings ratio of 57.82, a P/E/G ratio of 10.84 and a beta of 1.91. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.55. The stock has a 50-day simple moving average of $33.94 and a 200 day simple moving average of $33.18.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Susquehanna dropped their price target on Kyndryl from $46.00 to $43.00 and set a "positive" rating on the stock in a research report on Wednesday. Oppenheimer upped their target price on shares of Kyndryl from $37.00 to $43.00 and gave the company an "outperform" rating in a research note on Tuesday, February 4th.

Insiders Place Their Bets

In other news, SVP Vineet Khurana sold 55,465 shares of the company's stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 43,877 shares in the company, valued at approximately $1,878,374.37. This represents a 55.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Edward Sebold sold 27,500 shares of the firm's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $42.83, for a total transaction of $1,177,825.00. Following the completion of the sale, the general counsel now directly owns 132,818 shares of the company's stock, valued at approximately $5,688,594.94. This represents a 17.15 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.04% of the company's stock.

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.