Sumitomo Mitsui Trust Group Inc. Has $11.64 Million Stock Position in Kodiak AI, Inc. $KDK

Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Kodiak AI, Inc. (NASDAQ:KDK) by 112.5% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 1,677,951 shares of the company’s stock after acquiring an additional 888,480 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Kodiak AI were worth $11,645,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of KDK. JPMorgan Chase & Co. acquired a new stake in shares of Kodiak AI during the 3rd quarter valued at $36,000. Parkside Financial Bank & Trust bought a new stake in Kodiak AI during the 4th quarter worth $44,000. Farther Finance Advisors LLC acquired a new position in Kodiak AI in the 4th quarter worth about $78,000. Cannon Global Investment Management LLC bought a new position in Kodiak AI in the first quarter valued at about $119,000. Finally, Ieq Capital LLC bought a new position in Kodiak AI in the fourth quarter valued at about $186,000. 72.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on KDK shares. Citigroup reduced their price target on Kodiak AI from $13.50 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. Wall Street Zen lowered shares of Kodiak AI from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Chardan Capital cut their target price on shares of Kodiak AI from $22.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Weiss Ratings raised shares of Kodiak AI from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 2nd. Finally, Northland Securities set a $11.00 price target on shares of Kodiak AI in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $12.50.

Kodiak AI Trading Down 2.8%

NASDAQ KDK opened at $4.53 on Wednesday. The business’s 50-day moving average price is $6.50 and its two-hundred day moving average price is $7.99. Kodiak AI, Inc. has a 12 month low of $4.42 and a 12 month high of $11.48. The firm has a market capitalization of $832.84 million, a PE ratio of -4.98 and a beta of 0.40.

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.