Waterfront Wealth Inc. Sells 16,745 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Waterfront Wealth Inc. cut its position in shares of Kyndryl Holdings, Inc. (NYSE:KD) by 23.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 54,530 shares of the company’s stock after selling 16,745 shares during the period. Waterfront Wealth Inc.’s holdings in Kyndryl were worth $1,887,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in Kyndryl by 35.1% during the third quarter. FMR LLC now owns 6,036,908 shares of the company’s stock valued at $138,728,000 after buying an additional 1,569,260 shares during the last quarter. Geode Capital Management LLC boosted its stake in Kyndryl by 1.7% during the third quarter. Geode Capital Management LLC now owns 3,867,873 shares of the company’s stock valued at $88,908,000 after buying an additional 63,997 shares during the last quarter. Westfield Capital Management Co. LP boosted its stake in Kyndryl by 62.6% during the third quarter. Westfield Capital Management Co. LP now owns 3,259,082 shares of the company’s stock valued at $74,894,000 after buying an additional 1,254,208 shares during the last quarter. Zimmer Partners LP boosted its stake in Kyndryl by 1.9% during the third quarter. Zimmer Partners LP now owns 2,723,895 shares of the company’s stock valued at $62,595,000 after buying an additional 49,738 shares during the last quarter. Finally, Royce & Associates LP boosted its stake in Kyndryl by 9.6% during the third quarter. Royce & Associates LP now owns 2,643,328 shares of the company’s stock valued at $60,744,000 after buying an additional 232,583 shares during the last quarter. 71.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Susquehanna increased their price target on Kyndryl from $40.00 to $46.00 and gave the company a “positive” rating in a research note on Wednesday, February 5th. Bank of America initiated coverage on Kyndryl in a research note on Friday, November 22nd. They issued a “buy” rating and a $40.00 price objective for the company. Finally, Oppenheimer raised their price objective on Kyndryl from $37.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday, February 4th.

Insider Activity

In other news, SVP Vineet Khurana sold 55,465 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $42.81, for a total value of $2,374,456.65. Following the sale, 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 filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Edward Sebold sold 27,500 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $42.83, for a total value of $1,177,825.00. Following the completion of the sale, 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. Corporate insiders own 1.04% of the company’s stock.

Kyndryl Price Performance

NYSE:KD opened at $39.76 on Friday. The firm has a market capitalization of $9.25 billion, a price-to-earnings ratio of 72.29, a PEG ratio of 12.01 and a beta of 1.86. Kyndryl Holdings, Inc. has a 1 year low of $19.24 and a 1 year high of $43.61. The business has a 50 day simple moving average of $37.99 and a 200-day simple moving average of $30.06. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.09 and a quick ratio of 1.09.

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.