Sumitomo Mitsui Trust Group Inc. Grows Position in Kodiak AI, Inc. $KDK

Sumitomo Mitsui Trust Group Inc. boosted its position in Kodiak AI, Inc. (NASDAQ:KDK) by 27.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 789,471 shares of the company’s stock after acquiring an additional 171,341 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.44% of Kodiak AI worth $8,621,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in KDK. JPMorgan Chase & Co. purchased a new position in Kodiak AI in the third quarter worth approximately $36,000. ARK Investment Management LLC purchased a new stake in shares of Kodiak AI in the 3rd quarter valued at approximately $6,290,000. Amova Asset Management Americas Inc. purchased a new stake in shares of Kodiak AI in the 3rd quarter valued at approximately $4,228,000. Barclays PLC acquired a new stake in shares of Kodiak AI in the 3rd quarter valued at $830,000. Finally, UBS Group AG acquired a new stake in shares of Kodiak AI in the 3rd quarter valued at $1,059,000. Hedge funds and other institutional investors own 72.95% of the company’s stock.

Kodiak AI Stock Up 2.9%

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

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

Analyst Upgrades and Downgrades

KDK has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kodiak AI in a research report on Friday, March 27th. Chardan Capital reissued a “buy” rating and issued a $22.00 target price on shares of Kodiak AI in a report on Wednesday, March 25th. Finally, TD Cowen cut their price target on Kodiak AI from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $15.70.

About Kodiak AI

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.