Kodiak AI, Inc. $KDK Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. grew its position in shares of Kodiak AI, Inc. (NASDAQ:KDK) by 27.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 789,471 shares of the company’s stock after buying an additional 171,341 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Kodiak AI were worth $8,621,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in KDK. Rokos Capital Management US LP purchased a new stake in shares of Kodiak AI in the 3rd quarter valued at about $14,185,000. ARK Investment Management LLC acquired a new stake in shares of Kodiak AI in the 3rd quarter valued at about $6,290,000. AQR Arbitrage LLC purchased a new position in Kodiak AI during the 3rd quarter worth approximately $4,802,000. Amova Asset Management Americas Inc. purchased a new position in Kodiak AI during the 3rd quarter worth approximately $4,228,000. Finally, Meteora Capital LLC acquired a new position in Kodiak AI during the third quarter worth approximately $3,924,000. Institutional investors and hedge funds own 72.95% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on KDK shares. TD Cowen reduced their price objective on Kodiak AI from $14.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, March 12th. Chardan Capital restated a “buy” rating and set a $22.00 target price on shares of Kodiak AI in a research report on Wednesday, March 25th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kodiak AI in a report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Kodiak AI has a consensus rating of “Moderate Buy” and a consensus target price of $15.70.

Kodiak AI Stock Up 2.9%

NASDAQ KDK opened at $10.38 on Friday. Kodiak AI, Inc. has a 52-week low of $5.43 and a 52-week high of $11.62. The business’s 50-day moving average price is $8.21 and its 200 day moving average price is $8.40. The firm has a market cap of $1.89 billion, a P/E ratio of -15.73 and a beta of -0.01.

Kodiak AI (NASDAQ:KDK) last posted its quarterly earnings data on Tuesday, March 10th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.06). The business had revenue of $1.05 million during the quarter, compared to analysts’ expectations of $0.52 million.

Kodiak AI Company Profile

We are a blank check company incorporated as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer to as our initial business combination. Our only activities since inception have been organizational activities and those necessary to prepare for this offering. We have not selected any business combination target and we have not, nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any business combination target.