Saturday, June 25, 2022

A company insider recently sold 380,000 shares of Kyndryl Holdings Inc. [KD]. Should You Sale?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Kyndryl Holdings Inc. shares valued at $4,636,000 were sold by GOLDMAN SACHS GROUP INC on May 24. At $12.20 per share, GOLDMAN SACHS GROUP INC sold 380,000 shares. The insider’s holdings dropped to 22,307,055 shares worth approximately $206.34 million following the completion of this transaction.

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Also, INTERNATIONAL BUSINESS MACHINE sold 22,301,536 shares, netting a total of over 311,106,427 in proceeds. Following the sale of shares at $13.95 each, the insider now holds 22,301,536 shares.

Before that, Keinan Elly had added 26,000 shares to its account. In a trade valued at $296,351, the Group President bought Kyndryl Holdings Inc. shares for $11.40 each. Upon closing the transaction, the insider’s holdings increased to 26,000 shares, worth approximately $3.86 million.

As published in their initiating research note from Evercore ISI on November 15, 2021, Kyndryl Holdings Inc. [KD] has been an In-line and the price target has been revised to $22. This represents a 57.95% premium over Wednesday’s closing price.

Analyzing KD’s Price Performance

On Wednesday, Kyndryl Holdings Inc. [NYSE: KD] rose 0.54% to $9.25. The stock’s lowest price that day was $9.10, but it reached a high of $9.67 in the same session. During the last five days, there has been a drop of approximately -4.84%. Over the course of the year, Kyndryl Holdings Inc. shares have dropped approximately -48.90%. Nevertheless, trading volume fell to 3.11 million shares from 3.98 million shares the previous day.

Support And Resistance Levels for Kyndryl Holdings Inc. (KD)

According to the 24-hour chart, there is a support level at 9.01, which, if violated, would cause prices to drop to 8.77. In the upper region, resistance lies at 9.58. The next price resistance is at 9.91. RSI (Relative Strength Index) is 34.64 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.01, which suggests the price will decrease in the coming days. Percent R is at 96.11%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Kyndryl Holdings Inc. subject to short interest?

Stocks of Kyndryl Holdings Inc. saw a sharp steep in short interest on Apr 28, 2022 dropping by -0.99 million shares to 10.94 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2022 was 11.93 million shares. A decline of -9.05% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 7.46 of the overall float, the days-to-cover ratio (short ratio) decline to 7.46.

Which companies own the most shares of Kyndryl Holdings Inc. (KD)?

According to Goldman Sachs & Co. LLC filings, the company currently owns 22,948,257 shares, which is about 10.22% of the total KD shares outstanding. The investor’s shares have appreciated by 22,517,504 from its previous 13-F filing of 430753.0 shares. With the completion of the sale, The Vanguard Group, Inc.’s stake is now worth $210,206,322. BlackRock Fund Advisors reduced a -2.50% interest valued at $162.41 million while SSgA Funds Management, Inc. sold a -304,663 stake. A total of 1,399,954 shares of Kyndryl Holdings Inc. were sold by Neuberger Berman Investment Advis during the quarter, and -227,236 were sold by JPMorgan Investment Management, I. In its current portfolio, Greenlight Capital, Inc. holds 2,420,400 shares valued at $29.87 million.

In terms of Kyndryl Holdings Inc. share price expectations, FactSet research, analysts set an average price target of $18.00 in the next 12 months, up nearly 95.65% from the previous closing price of $9.20. Analysts anticipate Kyndryl Holdings Inc. stock to reach $18.00 by 2022, with the lowest price target being $18.00. In spite of this, 1 analysts ranked Kyndryl Holdings Inc. stock as a Hold at the end of 2022.

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