C3.ai, Inc. $AI Position Raised by Deutsche Bank AG

Deutsche Bank AG increased its position in shares of C3.ai, Inc. (NYSE:AI) by 6.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 178,142 shares of the company’s stock after purchasing an additional 10,611 shares during the period. Deutsche Bank AG owned 0.13% of C3.ai worth $3,750,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AI. Russell Investments Group Ltd. boosted its position 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 valued at $31,000 after purchasing an additional 456 shares in the last quarter. Invesco Ltd. boosted its position in shares of C3.ai by 9.2% during the 4th quarter. Invesco Ltd. now owns 331,767 shares of the company’s stock valued at $11,423,000 after purchasing an additional 28,071 shares in the last quarter. Legal & General Group Plc boosted its position in shares of C3.ai by 0.4% during the 4th quarter. Legal & General Group Plc now owns 119,144 shares of the company’s stock valued at $4,102,000 after purchasing an additional 517 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of C3.ai during the 4th quarter valued at about $3,942,000. Finally, Mariner LLC boosted its position in shares of C3.ai by 5.6% during the 4th quarter. Mariner LLC now owns 23,717 shares of the company’s stock valued at $817,000 after purchasing an additional 1,262 shares in the last quarter. Institutional investors own 38.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on AI shares. KeyCorp reiterated a “mixed” rating on shares of C3.ai in a report on Thursday, May 29th. Northland Securities cut shares of C3.ai from an “outperform” rating to a “market perform” rating and set a $17.00 target price for the company. in a report on Tuesday, August 12th. DA Davidson reiterated an “underperform” rating and issued a $13.00 target price (down from $25.00) on shares of C3.ai in a report on Monday, August 11th. Piper Sandler decreased their target price on shares of C3.ai from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Thursday, May 29th. Finally, Westpark Capital upgraded shares of C3.ai to a “strong-buy” rating and set a $40.00 target price for the company in a report on Wednesday, July 9th. Six investment 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 company. According to data from MarketBeat.com, C3.ai presently has a consensus rating of “Hold” and an average price target of $27.43.

C3.ai Trading Up 2.0%

Shares of AI stock opened at $18.21 on Tuesday. C3.ai, Inc. has a 1 year low of $14.70 and a 1 year high of $45.08. The firm’s fifty day simple moving average is $24.31 and its 200 day simple moving average is $24.12. The firm has a market capitalization of $2.45 billion, a P/E ratio of -8.13 and a beta of 1.98.

C3.ai (NYSE:AI) last announced its earnings results on Wednesday, May 28th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $107.85 million. During the same quarter in the previous year, the firm posted ($0.11) earnings per share. C3.ai’s revenue was up 25.5% compared to the same quarter last year. Equities research analysts anticipate that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Insider Buying and Selling at C3.ai

In other news, CEO Thomas M. Siebel sold 577,678 shares of the business’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $16.78, for a total value of $9,693,436.84. Following the sale, the chief executive officer owned 2,973,572 shares in the company, valued at approximately $49,896,538.16. The trade was a 16.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John E. Hyten sold 10,000 shares of the business’s stock in a transaction on Friday, June 13th. The shares were sold at an average price of $23.75, for a total transaction of $237,500.00. Following the completion of the sale, the director 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. Insiders have sold 2,257,074 shares of company stock worth $53,260,950 over the last three months. 33.54% of the stock is currently owned by corporate insiders.

C3.ai Profile

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.