BlackRock Inc. Makes New $9.07 Million Investment in Kodiak AI, Inc. $KDK

Key Points

• BlackRock acquired 1.79 million Kodiak AI shares worth approximately $9.07 million, giving it a 0.97% stake. Institutional investors collectively own 72.95% of the company.
• Analyst sentiment is mixed but leans positive: Kodiak AI has a consensus “Moderate Buy” rating and an average price target of $12, versus a recent share price of $3.82.
• Kodiak AI reported a quarterly loss of $0.50 per share, missing estimates by $0.33, on revenue of $3.50 million. The stock remains near its one-year low of $3.48 and well below its one-year high of $11.44.

BlackRock Inc. acquired a new stake in shares of Kodiak AI, Inc. (NASDAQ:KDK - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,786,046 shares of the company's stock, valued at approximately $9,073,000. BlackRock Inc. owned 0.97% of Kodiak AI at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KDK. JPMorgan Chase & Co. purchased a new position in Kodiak AI during the 3rd quarter valued at about $36,000. Barclays PLC purchased a new stake in Kodiak AI in the third quarter worth about $830,000. UBS Group AG bought a new position in shares of Kodiak AI during the third quarter valued at approximately $1,059,000. Rokos Capital Management US LP bought a new position in shares of Kodiak AI during the third quarter valued at approximately $14,185,000. Finally, AQR Arbitrage LLC bought a new position in shares of Kodiak AI during the third quarter valued at approximately $4,802,000. 72.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on KDK. Weiss Ratings cut Kodiak AI from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday, July 17th. Oppenheimer assumed coverage on Kodiak AI in a research note on Tuesday, August 25th. They set an "outperform" rating and a $9.00 price objective for the company. Wall Street Zen downgraded Kodiak AI from a "sell" rating to a "strong sell" rating in a report on Saturday, August 22nd. Citigroup reissued a "buy" rating on shares of Kodiak AI in a research note on Wednesday, August 19th. Finally, Northland Securities set a $11.00 price target on Kodiak AI in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $12.00.

Kodiak AI Trading Up 3.8%

KDK opened at $3.82 on Friday. The firm's 50 day simple moving average is $4.35 and its two-hundred day simple moving average is $6.55. The company has a market capitalization of $766.37 million, a PE ratio of -0.81 and a beta of 0.42. Kodiak AI, Inc. has a 1-year low of $3.48 and a 1-year high of $11.44.

Kodiak AI (NASDAQ:KDK - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.33). The firm had revenue of $3.50 million for the quarter. Equities analysts forecast that Kodiak AI, Inc. will post -0.63 earnings per share for the current fiscal year.

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.

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