Canada Pension Plan Investment Board Increases Stock Position in C3.ai, Inc. (NYSE:AI)

Canada Pension Plan Investment Board lifted its stake in C3.ai, Inc. (NYSE:AI - Free Report) by 191.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 30,300 shares of the company's stock after purchasing an additional 19,900 shares during the quarter. Canada Pension Plan Investment Board's holdings in C3.ai were worth $1,043,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its stake in shares of C3.ai by 1,242.5% in the 4th quarter. Renaissance Technologies LLC now owns 718,231 shares of the company's stock valued at $24,729,000 after buying an additional 664,731 shares during the period. Vanguard Group Inc. lifted its stake in shares of C3.ai by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 12,935,969 shares of the company's stock valued at $445,385,000 after purchasing an additional 446,529 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of C3.ai by 14.1% during the 4th quarter. Geode Capital Management LLC now owns 2,529,991 shares of the company's stock worth $87,128,000 after purchasing an additional 313,066 shares during the period. Norges Bank acquired a new stake in shares of C3.ai during the 4th quarter worth about $9,271,000. Finally, Rockefeller Capital Management L.P. raised its holdings in C3.ai by 712.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 201,823 shares of the company's stock valued at $6,949,000 after buying an additional 176,982 shares during the period. Hedge funds and other institutional investors own 38.96% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Morgan Stanley lowered their target price on shares of C3.ai from $30.00 to $20.00 and set an "underweight" rating for the company in a research note on Wednesday, April 16th. Canaccord Genuity Group lowered their price objective on shares of C3.ai from $40.00 to $30.00 and set a "hold" rating for the company in a research report on Thursday, February 27th. KeyCorp cut their target price on C3.ai from $21.00 to $17.00 and set an "underweight" rating on the stock in a research report on Thursday, April 17th. Needham & Company LLC restated a "hold" rating on shares of C3.ai in a research report on Thursday, February 27th. Finally, Piper Sandler cut their price objective on C3.ai from $42.00 to $28.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, C3.ai has a consensus rating of "Hold" and an average target price of $29.58.

C3.ai Stock Down 2.2 %

NYSE AI traded down $0.51 on Monday, hitting $22.08. 736,593 shares of the stock were exchanged, compared to its average volume of 5,167,042. C3.ai, Inc. has a fifty-two week low of $17.03 and a fifty-two week high of $45.08. The company has a 50-day moving average price of $22.08 and a 200-day moving average price of $28.83. The company has a market cap of $2.93 billion, a PE ratio of -9.98 and a beta of 2.01.

C3.ai (NYSE:AI - Get Free Report) last posted its earnings results on Wednesday, February 26th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.37). C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. The business had revenue of $98.78 million during the quarter, compared to analysts' expectations of $98.12 million. As a group, equities research analysts predict that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Insider Activity at C3.ai

In other news, Director Richard C. Levin sold 12,000 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $29.84, for a total transaction of $358,080.00. Following the completion of the sale, the director now owns 161,664 shares in the company, valued at approximately $4,824,053.76. The trade was a 6.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas M. Siebel sold 13,567 shares of the stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $19.47, for a total transaction of $264,149.49. The disclosure for this sale can be found here. Insiders sold 1,446,967 shares of company stock valued at $37,175,326 over the last three months. 33.54% of the stock is 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.