16,504 Shares in C3.ai, Inc. (NYSE:AI) Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas acquired a new stake in C3.ai, Inc. (NYSE:AI - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 16,504 shares of the company's stock, valued at approximately $347,000.

Other large investors have also recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC purchased a new stake in shares of C3.ai in the fourth quarter valued at approximately $3,159,000. Vanguard Group Inc. increased its position in shares of C3.ai by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 12,935,969 shares of the company's stock worth $445,385,000 after purchasing an additional 446,529 shares in the last quarter. GAMMA Investing LLC increased its position in shares of C3.ai by 4,846.5% in the 1st quarter. GAMMA Investing LLC now owns 12,020 shares of the company's stock valued at $253,000 after acquiring an additional 11,777 shares during the period. Geode Capital Management LLC increased its position in shares of C3.ai by 14.1% in the 4th quarter. Geode Capital Management LLC now owns 2,529,991 shares of the company's stock valued at $87,128,000 after acquiring an additional 313,066 shares during the period. Finally, Virtu Financial LLC acquired a new stake in C3.ai during the 4th quarter worth about $2,128,000. 38.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AI shares. Piper Sandler decreased their price target on shares of C3.ai from $28.00 to $27.00 and set a "neutral" rating on the stock in a research note on Thursday, May 29th. KeyCorp reissued a "mixed" rating on shares of C3.ai in a research report on Thursday, May 29th. UBS Group decreased their price objective on shares of C3.ai from $28.00 to $27.00 and set a "neutral" rating for the company in a research report on Thursday, June 26th. Wall Street Zen upgraded shares of C3.ai from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of C3.ai in a research report on Thursday, May 29th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, C3.ai currently has an average rating of "Hold" and an average price target of $30.14.

Insider Activity

In related news, Director John E. Hyten sold 10,000 shares of the company'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 transaction, the director directly owned 63,942 shares of the company's stock, valued at $1,518,622.50. This represents a 13.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Thomas M. Siebel sold 601,498 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $25.02, for a total value of $15,049,479.96. Following the transaction, the chief executive officer directly owned 3,816,802 shares in the company, valued at $95,496,386.04. This represents a 13.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,400,434 shares of company stock worth $34,532,605. 33.54% of the stock is currently owned by corporate insiders.

C3.ai Price Performance

Shares of C3.ai stock traded up $0.34 during trading hours on Friday, hitting $28.70. 8,260,825 shares of the company's stock traded hands, compared to its average volume of 5,372,543. C3.ai, Inc. has a 12-month low of $17.03 and a 12-month high of $45.08. The stock has a market capitalization of $3.86 billion, a price-to-earnings ratio of -12.81 and a beta of 1.99. The company has a fifty day simple moving average of $24.95 and a 200-day simple moving average of $25.66.

C3.ai (NYSE:AI - Get Free Report) last issued its 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. The business had revenue of $108.72 million during the quarter, compared to the consensus estimate of $107.85 million. C3.ai had a negative return on equity of 33.51% and a negative net margin of 74.21%. The firm's revenue was up 25.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.11) EPS. On average, analysts forecast that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

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.