C3.ai, Inc. $AI Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. lifted its position in shares of C3.ai, Inc. (NYSE:AI) by 3.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,407,490 shares of the company’s stock after buying an additional 471,521 shares during the period. Vanguard Group Inc. owned approximately 10.10% of C3.ai worth $282,228,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Russell Investments Group Ltd. increased its holdings in shares of C3.ai by 100.7% during the 4th quarter. Russell Investments Group Ltd. now owns 909 shares of the company’s stock worth $31,000 after buying an additional 456 shares during the last quarter. Orion Capital Management LLC acquired a new stake in C3.ai in the 4th quarter valued at $34,000. Raiffeisen Bank International AG acquired a new stake in C3.ai in the 4th quarter valued at $36,000. Garde Capital Inc. acquired a new stake in C3.ai in the 1st quarter valued at $29,000. Finally, CX Institutional acquired a new stake in C3.ai in the 1st quarter valued at $34,000. 38.96% of the stock is currently owned by institutional investors and hedge funds.

C3.ai Stock Performance

Shares of AI stock opened at $17.86 on Monday. C3.ai, Inc. has a one year low of $14.70 and a one year high of $45.08. The company’s 50-day simple moving average is $24.46 and its 200-day simple moving average is $24.21. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of -7.97 and a beta of 1.98.

C3.ai (NYSE:AI) last issued its quarterly earnings results on Wednesday, May 28th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.04. C3.ai had a negative net margin of 74.21% and a negative return on equity of 33.51%. The business had revenue of $108.72 million for the quarter, compared to analysts’ expectations of $107.85 million. During the same quarter last year, the company posted ($0.11) earnings per share. The company’s quarterly revenue was up 25.5% compared to the same quarter last year. As a group, research analysts forecast that C3.ai, Inc. will post -2.44 EPS for the current year.

Insider Buying and Selling at C3.ai

In other C3.ai news, Director Stephen M. Ward, Jr. sold 42,382 shares of the firm’s stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $26.32, for a total value of $1,115,494.24. Following the transaction, the director owned 546,495 shares of the company’s stock, valued at $14,383,748.40. This trade represents a 7.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John E. Hyten sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $23.75, for a total transaction of $237,500.00. Following the completion of the transaction, the director directly owned 63,942 shares in the company, valued at $1,518,622.50. This represents a 13.52% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,257,074 shares of company stock valued at $53,260,950. Corporate insiders own 33.54% of the company’s stock.

Analyst Ratings Changes

AI has been the subject of several recent research reports. DA Davidson reiterated an “underperform” rating and issued a $13.00 price target (down from $25.00) on shares of C3.ai in a report on Monday, August 11th. Piper Sandler lowered their price target on C3.ai from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Thursday, May 29th. Northland Capmk downgraded C3.ai from a “strong-buy” rating to a “hold” rating in a report on Monday, August 11th. Morgan Stanley increased their price target on C3.ai from $20.00 to $22.00 and gave the company an “underweight” rating in a report on Thursday, May 29th. Finally, Wall Street Zen downgraded C3.ai from a “hold” rating to a “sell” rating in a report on Saturday. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $27.43.

About C3.ai

C3.ai, Inc operates as an enterprise artificial intelligence (AI) software company in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company provides C3 AI platform, an application development and runtime environment that enables customers to design, develop, and deploy enterprise AI applications; C3 AI Ex Machina for analysis-ready data; C3 AI CRM, an industry specific customer relationship management solution; and C3 Generative AI Product Suite that enables to locate, retrieve, and present information.