Mitsubishi UFJ Asset Management Co. Ltd. Acquires New Shares in Kodiak AI, Inc. $KDK

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Kodiak AI, Inc. (NASDAQ:KDK) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 251,254 shares of the company’s stock, valued at approximately $1,276,000.

Several other hedge funds have also recently bought and sold shares of KDK. JPMorgan Chase & Co. bought a new position in Kodiak AI during the third quarter valued at about $36,000. Parkside Financial Bank & Trust bought a new stake in shares of Kodiak AI during the 4th quarter worth about $44,000. Farther Finance Advisors LLC bought a new stake in shares of Kodiak AI during the 4th quarter worth about $78,000. Cannon Global Investment Management LLC acquired a new position in shares of Kodiak AI during the 1st quarter valued at about $119,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Kodiak AI during the 1st quarter valued at about $125,000. 72.95% of the stock is owned by institutional investors and hedge funds.

Kodiak AI Stock Performance

Kodiak AI stock opened at $3.94 on Friday. Kodiak AI, Inc. has a 52 week low of $3.78 and a 52 week high of $11.44. The firm has a market capitalization of $790.44 million, a PE ratio of -0.84 and a beta of 0.45. The business’s 50-day simple moving average is $4.75 and its 200-day simple moving average is $6.91.

Kodiak AI (NASDAQ:KDK) last announced its earnings results on Thursday, August 6th. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.33). The company had revenue of $3.50 million during the quarter. Research analysts forecast that Kodiak AI, Inc. will post -0.63 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on KDK. Chardan Capital cut their price objective on Kodiak AI from $22.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Craig Hallum started coverage on Kodiak AI in a report on Monday, June 15th. They set a “buy” rating and a $12.00 price target on the stock. Citigroup reissued a “buy” rating on shares of Kodiak AI in a research report on Wednesday. Northland Securities set a $11.00 price objective on shares of Kodiak AI in a research note on Monday, May 11th. Finally, Wall Street Zen cut shares of Kodiak AI from a “sell” rating to a “strong sell” rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $12.50.

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.