Castleark Management LLC Has $7.01 Million Stake in Kyndryl Holdings, Inc. (NYSE:KD)

Castleark Management LLC reduced its holdings in Kyndryl Holdings, Inc. (NYSE:KD) by 40.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 202,550 shares of the company’s stock after selling 135,420 shares during the period. Castleark Management LLC owned approximately 0.09% of Kyndryl worth $7,008,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. True Wealth Design LLC grew its position in shares of Kyndryl by 150.6% during the 4th quarter. True Wealth Design LLC now owns 872 shares of the company’s stock worth $30,000 after buying an additional 524 shares during the period. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Kyndryl in the 4th quarter valued at approximately $30,000. Millstone Evans Group LLC bought a new position in Kyndryl during the 4th quarter worth approximately $35,000. Picton Mahoney Asset Management acquired a new position in Kyndryl during the fourth quarter valued at approximately $38,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Kyndryl by 35.9% during 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 period. 71.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Oppenheimer increased their target price on shares of Kyndryl from $43.00 to $47.00 and gave the stock an “outperform” rating in a report on Tuesday, May 13th. Susquehanna lowered their price objective 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.

Kyndryl Trading Up 0.2%

NYSE:KD opened at $40.04 on Wednesday. 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 business’s 50-day simple moving average is $33.18 and its 200-day simple moving average is $34.77. Kyndryl Holdings, Inc. has a fifty-two week low of $21.34 and a fifty-two week high of $43.61. The stock has a market capitalization of $9.32 billion, a PE ratio of 72.80, a price-to-earnings-growth ratio of 10.84 and a beta of 1.91.

Kyndryl (NYSE:KD) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.52 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.52. The firm had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.77 billion. Kyndryl had a net margin of 0.91% and a return on equity of 7.22%. The business’s revenue was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. Sell-side analysts expect that Kyndryl Holdings, Inc. will post 0.73 earnings per share for the current fiscal year.

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.