Fifth Third Bancorp Sells 1,829 Shares of Kyndryl Holdings, Inc. (NYSE:KD)

Fifth Third Bancorp lowered its stake in Kyndryl Holdings, Inc. (NYSE:KDGet Rating) by 34.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,413 shares of the company’s stock after selling 1,829 shares during the quarter. Fifth Third Bancorp’s holdings in Kyndryl were worth $28,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Ronald Blue Trust Inc. bought a new stake in Kyndryl during the 2nd quarter valued at approximately $26,000. Allworth Financial LP raised its stake in Kyndryl by 47.6% during the 3rd quarter. Allworth Financial LP now owns 3,807 shares of the company’s stock valued at $31,000 after purchasing an additional 1,228 shares during the period. CWM LLC bought a new stake in Kyndryl during the 2nd quarter valued at approximately $39,000. Geneos Wealth Management Inc. bought a new stake in Kyndryl during the 1st quarter valued at approximately $61,000. Finally, Lazard Asset Management LLC raised its stake in Kyndryl by 64.3% during the 2nd quarter. Lazard Asset Management LLC now owns 6,667 shares of the company’s stock valued at $64,000 after purchasing an additional 2,608 shares during the period. Institutional investors own 62.96% of the company’s stock.

Insider Transactions at Kyndryl

In related news, CFO David B. Wyshner bought 20,000 shares of the company’s stock in a transaction dated Monday, November 7th. The stock was purchased at an average price of $9.13 per share, for a total transaction of $182,600.00. Following the acquisition, the chief financial officer now owns 476,406 shares in the company, valued at $4,349,586.78. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Martin J. Schroeter bought 109,000 shares of the company’s stock in a transaction dated Tuesday, November 8th. The stock was purchased at an average price of $9.68 per share, for a total transaction of $1,055,120.00. Following the acquisition, the chief executive officer now owns 1,191,833 shares in the company, valued at $11,536,943.44. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO David B. Wyshner bought 20,000 shares of the company’s stock in a transaction dated Monday, November 7th. The stock was bought at an average price of $9.13 per share, with a total value of $182,600.00. Following the acquisition, the chief financial officer now owns 476,406 shares in the company, valued at approximately $4,349,586.78. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 152,800 shares of company stock worth $1,456,442. 0.23% of the stock is currently owned by company insiders.

Kyndryl Stock Performance

NYSE KD opened at $12.57 on Friday. The stock has a market capitalization of $2.85 billion, a PE ratio of -1.88 and a beta of 1.60. The business has a 50 day simple moving average of $11.06 and a two-hundred day simple moving average of $10.38. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.08 and a quick ratio of 1.08. Kyndryl Holdings, Inc. has a 1-year low of $7.93 and a 1-year high of $18.22.

Kyndryl (NYSE:KDGet Rating) last released its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.02). The firm had revenue of $4.18 billion for the quarter, compared to analysts’ expectations of $4.06 billion. Kyndryl had a negative net margin of 8.59% and a negative return on equity of 51.01%. On average, research analysts predict that Kyndryl Holdings, Inc. will post -3.25 EPS for the current fiscal year.

Wall Street Analyst Weigh In

KD has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on Kyndryl from $11.00 to $13.00 in a research note on Thursday, December 15th. Susquehanna initiated coverage on Kyndryl in a report on Thursday. They set a “neutral” rating and a $14.00 price target for the company.

Kyndryl Profile

(Get Rating)

Kyndryl Holdings, Inc operates as a technology services company and IT infrastructure services provider worldwide. The company offers cloud services; core enterprise and cloud services; application, data, and artificial intelligence services; digital workplace services; security and resiliency services; and network services and edge services.

See Also

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Institutional Ownership by Quarter for Kyndryl (NYSE:KD)

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