Banque Cantonale Vaudoise purchased a new stake in shares of C3.ai, Inc. (NYSE:AI - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 18,546 shares of the company's stock, valued at approximately $390,000.
Several other large investors have also added to or reduced their stakes in AI. Russell Investments Group Ltd. raised 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 acquiring an additional 456 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of C3.ai by 0.4% in the fourth 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 during the period. CIBC Private Wealth Group LLC increased its holdings in C3.ai by 35.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,128 shares of the company's stock worth $71,000 after purchasing an additional 560 shares during the period. Optimum Investment Advisors increased its holdings in C3.ai by 35.6% during the 1st quarter. Optimum Investment Advisors now owns 2,668 shares of the company's stock worth $56,000 after purchasing an additional 700 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in C3.ai by 2.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,460 shares of the company's stock valued at $773,000 after buying an additional 708 shares during the period. Hedge funds and other institutional investors own 38.96% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on AI. Canaccord Genuity Group cut their price objective on shares of C3.ai from $30.00 to $28.00 and set a "hold" rating on the stock in a report on Thursday, May 29th. Wall Street Zen raised shares of C3.ai from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Morgan Stanley increased their target price on shares of C3.ai from $20.00 to $22.00 and gave the company an "underweight" rating in a research report on Thursday, May 29th. UBS Group 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 research report on Thursday, June 26th. Finally, Oppenheimer decreased their target price on shares of C3.ai from $56.00 to $45.00 and set an "outperform" rating for the company in a research report on Thursday, May 29th. Four analysts have rated the stock with a sell rating, seven have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, C3.ai currently has a consensus rating of "Hold" and a consensus target price of $29.79.
Check Out Our Latest Stock Report on C3.ai
Insiders Place Their Bets
In other news, CFO Hitesh Lath sold 17,689 shares of the business's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $24.96, for a total value of $441,517.44. Following the completion of the sale, the chief financial officer directly owned 166,218 shares in the company, valued at $4,148,801.28. The trade was a 9.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard C. Levin sold 6,000 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $26.31, for a total value of $157,860.00. Following the completion of the sale, the director owned 161,664 shares of the company's stock, valued at $4,253,379.84. This trade represents a 3.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,962,892 shares of company stock worth $50,778,088. Corporate insiders own 33.54% of the company's stock.
C3.ai Trading Down 4.8%
AI opened at $22.42 on Friday. C3.ai, Inc. has a 12-month low of $17.03 and a 12-month high of $45.08. The firm has a market capitalization of $3.01 billion, a PE ratio of -10.01 and a beta of 1.99. The firm has a 50 day moving average of $25.46 and a two-hundred day moving average of $25.16.
C3.ai (NYSE:AI - Get Free Report) last posted its quarterly 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 company had revenue of $108.72 million during the quarter, compared to analyst estimates of $107.85 million. During the same period last year, the firm posted ($0.11) EPS. C3.ai's revenue for the quarter was up 25.5% compared to the same quarter last year. As a group, analysts predict that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.
C3.ai Company Profile
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Free Report)
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.
See Also
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