Nucor earnings beat by $0.08, revenue fell short of estimates
Edward Sebold, General Counsel and Secretary at Kyndryl Holdings , Inc. (NYSE:KD), recently sold a significant portion of his shares in the company. According to a Form 4 filing with the Securities and Exchange Commission, Sebold sold a total of 24,500 shares on February 6, 2025. The timing is notable as Kyndryl’s stock has shown remarkable momentum, with a 107% return over the past year and currently trading near its 52-week high of $43.61. The transactions were executed at prices ranging from $42.3475 to $43.1524 per share, amounting to a total sale value of approximately $1.18 million.
Following these transactions, Sebold retains ownership of 132,818 shares in Kyndryl. The sales were conducted over multiple transactions, each with varying prices within the specified range. Such filings are standard practice for corporate insiders and provide transparency to investors regarding insider trading activities.
In other recent news, Kyndryl, the world’s largest IT infrastructure services provider, announced the launch of its new secure access service edge (SASE) services in partnership with Palo Alto Networks (NASDAQ:PANW). These services, powered by Precision AI, aim to enhance network security for businesses by integrating network and security features. This move is in response to the growing need for updated IT infrastructure as highlighted in the Kyndryl Readiness Report.
In another development, Scotiabank (TSX:BNS) analyst Divya Goyal raised Kyndryl’s stock target to $45 from $35, maintaining a Sector Outperform rating. This adjustment follows Kyndryl’s strong quarterly performance, particularly in terms of profitability, and its effective implementation of strategic plans. The company’s 3As initiatives, focusing on automation, artificial intelligence, and analytics, have been instrumental in driving margin expansion and value creation.
Kyndryl also reported mixed third-quarter results, with earnings beating expectations but revenue falling short. The company posted adjusted earnings per share of $0.51, surpassing analyst estimates of $0.43, but revenue was $3.74 billion, below the consensus forecast of $3.83 billion. Despite this, Kyndryl raised its fiscal year 2025 outlook for adjusted earnings and cash flow, indicating a positive financial outlook.
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