Kyndryl (NYSE:KD) Shares Gap Down – Here’s Why

Shares of Kyndryl Holdings, Inc. (NYSE:KD) gapped down before the market opened on Thursday . The stock had previously closed at $34.06, but opened at $30.88. Kyndryl shares last traded at $30.46, with a volume of 2,177,572 shares traded.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Oppenheimer raised their price target on Kyndryl from $37.00 to $43.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 4th. Susquehanna boosted their target price on shares of Kyndryl from $40.00 to $46.00 and gave the stock a “positive” rating in a research report on Wednesday, February 5th.

Kyndryl Stock Down 3.0 %

The firm has a 50 day moving average of $37.67 and a 200-day moving average of $32.29. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market capitalization of $7.30 billion, a P/E ratio of 57.01, a price-to-earnings-growth ratio of 10.84 and a beta of 1.85.

Insider Buying and Selling

In other Kyndryl news, SVP Vineet Khurana sold 55,465 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $42.81, for a total value of $2,374,456.65. Following the transaction, the senior vice president now directly owns 43,877 shares in the company, valued at $1,878,374.37. The trade was a 55.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Edward Sebold sold 27,500 shares of the firm’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $42.83, for a total value of $1,177,825.00. Following the sale, the general counsel now directly owns 132,818 shares of the company’s stock, valued at $5,688,594.94. This represents a 17.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.04% of the company’s stock.

Institutional Trading of Kyndryl

Large investors have recently made changes to their positions in the business. True Wealth Design LLC increased its position in Kyndryl by 150.6% in the 4th quarter. True Wealth Design LLC now owns 872 shares of the company’s stock valued at $30,000 after acquiring an additional 524 shares in the last quarter. Marshall & Sterling Wealth Advisors Inc. bought a new stake in Kyndryl during the 4th quarter worth about $30,000. Millstone Evans Group LLC acquired a new position in Kyndryl during the 4th quarter valued at about $35,000. Picton Mahoney Asset Management bought a new position in shares of Kyndryl in the 4th quarter valued at about $38,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Kyndryl by 35.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,124 shares of the company’s stock worth $39,000 after buying an additional 297 shares during the period. Institutional investors own 71.53% 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.