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 $57,950 were purchased by Machuel Denis on Aug 11. At $11.59 per share, Machuel Denis acquired 5,000 shares. The insider’s holdings grew to 35,389 shares worth approximately $0.37 million following the completion of this transaction.
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Also, Ungerleider Howard I purchased 20,000 shares, netting a total of over 211,752 in proceeds. Following the buying of shares at $10.59 each, the insider now holds 50,389 shares.
Before that, GOLDMAN SACHS GROUP INC had sold 380,000 shares from its account. In a trade valued at $4,636,000, the 10% Owner traded Kyndryl Holdings Inc. shares for $12.20 each. Upon closing the transaction, the insider’s holdings decreased to 380,000 shares, worth approximately $231.55 million.
As published in their initiating research note from JP Morgan on August 02, 2022, Kyndryl Holdings Inc. [KD] has been a Neutral and the price target has been revised to $12. This represents a 13.5% premium over Wednesday’s closing price. Analysts at Evercore ISI started covering the stock with ‘”an In-line”‘ outlook in a report released in mid November.
Analyzing KD’s Price Performance
On Wednesday, Kyndryl Holdings Inc. [NYSE: KD] rose 2.27% to $10.38. The stock’s lowest price that day was $10.24, but it reached a high of $10.81 in the same session. During the last five days, there has been a drop of approximately -3.80%. Over the course of the year, Kyndryl Holdings Inc. shares have dropped approximately -42.65%. A 50-day SMA is recorded $10.65, while a 200-day SMA reached $13.03. Nevertheless, trading volume fell to 2.97 million shares from 2.92 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 10.14, which, if violated, would cause prices to drop to 9.91. In the upper region, resistance lies at 10.71. The next price resistance is at 11.05. RSI (Relative Strength Index) is 45.04 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.35, which suggests the price will decrease in the coming days. Percent R is at 72.68%, 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 Jul 14, 2022 dropping by -4.08 million shares to 7.22 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 11.3 million shares. A decline of -56.51% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.39 of the overall float, the days-to-cover ratio (short ratio) decline to 2.39.
Which companies own the most shares of Kyndryl Holdings Inc. (KD)?
According to The Vanguard Group, Inc. filings, the company currently owns 20,191,251 shares, which is about 8.90% of the total KD shares outstanding. The investor’s shares have appreciated by 3,156,703 from its previous 13-F filing of 17034548.0 shares. With the completion of the buy transaction, Goldman Sachs & Co. LLC’s stake is now worth $180,576,360. BlackRock Fund Advisors acquire a 5.45% interest valued at $144.62 million while Jupiter Asset Management Ltd. purchased a 4,339,864 stake. A total of -347,029 shares of Kyndryl Holdings Inc. were bought by SSgA Funds Management, Inc. during the quarter, and 2,953,000 were bought by Greenlight Capital, Inc. In its current portfolio, 1832 Asset Management LP holds 5,117,089 shares valued at $53.32 million.
In terms of Kyndryl Holdings Inc. share price expectations, FactSet research, analysts set an average price target of $15.00 in the next 12 months, up nearly 47.78% from the previous closing price of $10.15. Analysts anticipate Kyndryl Holdings Inc. stock to reach $18.00 by 2022, with the lowest price target being $12.00. In spite of this, 2 analysts ranked Kyndryl Holdings Inc. stock as a Hold at the end of 2022.