Deutsche Bank AG Boosts Stake in C3.ai, Inc. (NYSE:AI)

Deutsche Bank AG grew its holdings in C3.ai, Inc. (NYSE:AI - Free Report) by 42.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 167,531 shares of the company's stock after purchasing an additional 49,690 shares during the period. Deutsche Bank AG owned about 0.13% of C3.ai worth $5,768,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Brown Lisle Cummings Inc. boosted its stake in shares of C3.ai by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company's stock worth $28,000 after buying an additional 400 shares during the last quarter. R Squared Ltd purchased a new position in shares of C3.ai in the 4th quarter worth $29,000. Russell Investments Group Ltd. boosted its stake in shares of C3.ai by 100.7% in the 4th quarter. Russell Investments Group Ltd. now owns 909 shares of the company's stock worth $31,000 after buying an additional 456 shares during the last quarter. WealthTrak Capital Management LLC purchased a new position in shares of C3.ai in the 4th quarter worth $33,000. Finally, CENTRAL TRUST Co purchased a new position in shares of C3.ai in the 4th quarter worth $34,000. Institutional investors own 38.96% of the company's stock.

C3.ai Stock Up 4.1%

NYSE:AI traded up $0.89 on Thursday, reaching $22.76. 5,134,463 shares of the company's stock traded hands, compared to its average volume of 5,134,860. The stock has a 50-day simple moving average of $21.65 and a 200-day simple moving average of $28.43. The firm has a market cap of $3.02 billion, a PE ratio of -10.30 and a beta of 1.99. C3.ai, Inc. has a 12 month low of $17.03 and a 12 month high of $45.08.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. KeyCorp dropped their price target on C3.ai from $21.00 to $17.00 and set an "underweight" rating on the stock in a research note on Thursday, April 17th. Morgan Stanley dropped their price target on C3.ai from $30.00 to $20.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 16th. Canaccord Genuity Group dropped their price target on C3.ai from $40.00 to $30.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. DA Davidson dropped their price target on C3.ai from $25.00 to $18.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Finally, Piper Sandler lowered their target price on C3.ai from $42.00 to $28.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $29.58.

Insider Buying and Selling at C3.ai

In other C3.ai news, CEO Thomas M. Siebel sold 13,567 shares of the firm's stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $19.47, for a total transaction of $264,149.49. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Thomas M. Siebel sold 341,698 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $24.00, for a total value of $8,200,752.00. Following the sale, the chief executive officer now directly owns 4,674,643 shares in the company, valued at approximately $112,191,432. This represents a 6.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,529,051 shares of company stock valued at $34,028,030 over the last ninety days. 33.54% of the stock is currently owned by company insiders.

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.