Nuveen Asset Management LLC Boosts Stake in C3.ai, Inc. (NYSE:AI)

Nuveen Asset Management LLC grew its stake in shares of C3.ai, Inc. (NYSE:AI - Free Report) by 24.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 280,688 shares of the company's stock after purchasing an additional 54,490 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.22% of C3.ai worth $9,664,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in C3.ai by 10.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 933,139 shares of the company's stock worth $32,128,000 after acquiring an additional 88,750 shares during the period. SBI Securities Co. Ltd. purchased a new stake in C3.ai in the fourth quarter worth about $3,996,000. Susquehanna Fundamental Investments LLC purchased a new stake in C3.ai in the fourth quarter worth about $3,159,000. Vanguard Group Inc. lifted its stake in C3.ai by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 12,935,969 shares of the company's stock worth $445,385,000 after acquiring an additional 446,529 shares during the period. Finally, Janney Montgomery Scott LLC lifted its stake in C3.ai by 70.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 55,339 shares of the company's stock worth $1,905,000 after acquiring an additional 22,949 shares during the period. 38.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Thomas M. Siebel sold 216,974 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $21.88, for a total value of $4,747,391.12. Following the completion of the transaction, the chief executive officer now directly owns 726,177 shares of the company's stock, valued at approximately $15,888,752.76. This represents a 23.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $264,149.49. The disclosure for this sale can be found here. Insiders have sold 1,529,519 shares of company stock worth $34,038,096 in the last quarter. Corporate insiders own 33.54% of the company's stock.

C3.ai Stock Performance

NYSE AI traded up $4.75 during trading hours on Thursday, reaching $27.77. The stock had a trading volume of 54,919,494 shares, compared to its average volume of 5,355,764. C3.ai, Inc. has a 52-week low of $17.03 and a 52-week high of $45.08. The stock has a market cap of $3.69 billion, a P/E ratio of -12.56 and a beta of 1.99. The stock has a fifty day moving average of $21.72 and a 200 day moving average of $28.30.

C3.ai (NYSE:AI - Get Free Report) last announced its earnings results on Wednesday, May 28th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.20) by $0.04. C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. The firm had revenue of $108.72 million for the quarter, compared to analyst estimates of $107.85 million. During the same quarter last year, the firm posted ($0.11) EPS. The business's revenue was up 25.5% on a year-over-year basis. On average, equities research analysts forecast that C3.ai, Inc. will post -2.44 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Morgan Stanley upped their price objective on shares of C3.ai from $20.00 to $22.00 and gave the stock an "underweight" rating in a research note on Thursday. Needham & Company LLC reaffirmed a "hold" rating on shares of C3.ai in a research note on Thursday. KeyCorp reiterated a "mixed" rating on shares of C3.ai in a report on Thursday. DA Davidson reduced their target price on shares of C3.ai from $25.00 to $18.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Finally, Canaccord Genuity Group reduced their target price on shares of C3.ai from $30.00 to $28.00 and set a "hold" rating for the company in a report on Thursday. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $29.46.

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.