Vontobel Holding Ltd. raised its holdings in C3.ai, Inc. (NYSE:AI – Free Report) by 8.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,895 shares of the company’s stock after buying an additional 1,545 shares during the quarter. Vontobel Holding Ltd.’s holdings in C3.ai were worth $464,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of AI. Garde Capital Inc. bought a new stake in C3.ai in the 1st quarter valued at $29,000. CX Institutional bought a new stake in C3.ai in the 1st quarter valued at $34,000. NewEdge Advisors LLC increased its holdings in C3.ai by 48.7% in the 1st quarter. NewEdge Advisors LLC now owns 2,442 shares of the company’s stock valued at $51,000 after buying an additional 800 shares during the period. Optimum Investment Advisors increased its holdings in C3.ai by 35.6% in the 1st quarter. Optimum Investment Advisors now owns 2,668 shares of the company’s stock valued at $56,000 after buying an additional 700 shares during the period. Finally, Family Legacy Financial Solutions LLC bought a new stake in C3.ai in the 2nd quarter valued at $103,000. Institutional investors own 38.96% of the company’s stock.
C3.ai Stock Down 2.2%
Shares of NYSE:AI opened at $18.95 on Wednesday. C3.ai, Inc. has a 12 month low of $14.70 and a 12 month high of $45.08. The company’s 50-day moving average price is $17.79 and its two-hundred day moving average price is $21.60. The firm has a market cap of $2.61 billion, a P/E ratio of -7.29 and a beta of 1.96.
Insiders Place Their Bets
In other C3.ai news, CFO Hitesh Lath sold 46,881 shares of the company’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $16.99, for a total transaction of $796,508.19. Following the transaction, the chief financial officer directly owned 209,154 shares in the company, valued at approximately $3,553,526.46. This represents a 18.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Robert David Schilling sold 470,420 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $17.29, for a total transaction of $8,133,561.80. Following the transaction, the executive vice president owned 1,011,327 shares in the company, valued at approximately $17,485,843.83. The trade was a 31.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,695,772 shares of company stock valued at $54,661,544 in the last 90 days. 26.50% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
AI has been the topic of several analyst reports. DA Davidson reissued an “underperform” rating and issued a $13.00 price target (down previously from $25.00) on shares of C3.ai in a report on Monday, August 11th. UBS Group upped their target price on shares of C3.ai from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Friday, September 12th. Oppenheimer reissued a “market perform” rating on shares of C3.ai in a report on Tuesday, August 12th. Wall Street Zen cut shares of C3.ai from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of C3.ai in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, seven have given a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $22.09.
View Our Latest Stock Analysis on C3.ai
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.
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