Vanguard Group Inc. Has $195.06 Million Position in C3.ai, Inc. $AI

Key Points

• Vanguard remains a major C3.ai holder, increasing its stake by 0.8% in the fourth quarter to 14.47 million shares, worth about $195.1 million and roughly 10.3% of the company.
• Insider selling has been notable, with Chairman Thomas M. Siebel and CEO Stephen Bradley Ehikian both selling shares, while insiders have sold 1.62 million shares worth $15.5 million over the past 90 days.
• Wall Street is cautious on C3.ai, with the stock carrying a consensus “Reduce” rating as analysts cut price targets, even as the company reported stronger government-related bookings and announced workforce reductions to save costs.

Vanguard Group Inc. boosted its holdings in C3.ai, Inc. (NYSE:AI - Free Report) by 0.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,469,953 shares of the company's stock after purchasing an additional 108,011 shares during the quarter. Vanguard Group Inc. owned about 10.28% of C3.ai worth $195,055,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. State Street Corp grew its position in C3.ai by 4.3% in the 2nd quarter. State Street Corp now owns 2,826,249 shares of the company's stock valued at $69,441,000 after purchasing an additional 116,611 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in C3.ai by 9.6% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,425,976 shares of the company's stock valued at $42,066,000 after acquiring an additional 211,786 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in C3.ai by 77.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,804,188 shares of the company's stock valued at $31,284,000 after acquiring an additional 785,508 shares in the last quarter. Two Sigma Investments LP bought a new position in C3.ai during the 3rd quarter valued at $13,379,000. Finally, Bank of America Corp DE lifted its stake in C3.ai by 358.9% during the 3rd quarter. Bank of America Corp DE now owns 606,947 shares of the company's stock valued at $10,524,000 after acquiring an additional 474,698 shares in the last quarter. Institutional investors and hedge funds own 38.96% of the company's stock.

Insiders Place Their Bets

In other news, Chairman Thomas M. Siebel sold 27,210 shares of C3.ai stock in a transaction on Monday, May 4th. The stock was sold at an average price of $9.27, for a total transaction of $252,236.70. Following the sale, the chairman directly owned 748,277 shares in the company, valued at $6,936,527.79. The trade was a 3.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Stephen Bradley Ehikian sold 52,194 shares of C3.ai stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $8.22, for a total value of $429,034.68. Following the sale, the chief executive officer owned 721,485 shares in the company, valued at $5,930,606.70. The trade was a 6.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 1,622,783 shares of company stock valued at $15,513,925. 26.50% of the stock is currently owned by company insiders.

Key Stories Impacting C3.ai

Here are the key news stories impacting C3.ai this week:

• Positive Sentiment: C3.ai reported that federal, defense, and aerospace bookings surged sharply year over year and now make up more than half of total bookings, signaling stronger demand in higher-value government-related markets. C3.ai (AI) Is Up 8.5% After Defense Bookings Surge And Major Job Cuts - Has The Bull Case Changed?
• Positive Sentiment: The company also announced plans to cut about a quarter of its workforce, which it says should generate roughly $135 million in annual operating expense savings and improve profitability over time. C3.ai (AI) Is Up 8.5% After Defense Bookings Surge And Major Job Cuts - Has The Bull Case Changed?
• Neutral Sentiment: C3.ai launched C3 Code, a new AI-driven development platform that turns plain-English requirements into enterprise applications, which could support longer-term product adoption but has not yet shown up in financial results. C3.ai (AI) Launches C3 Code Platform for AI-Driven App Development
• Neutral Sentiment: Brokerage sentiment remains cautious, with C3.ai receiving an average “Reduce” rating, reflecting ongoing concerns about valuation and execution. C3.ai, Inc. NYSE: AI Receives Average Rating of "Reduce" from Brokerages
• Negative Sentiment: The company’s chairman sold $252,236.70 in stock, which can add to investor concerns about insider confidence. Insider Selling: C3.ai NYSE: AI Chairman Sells $252,236.70 in Stock

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. UBS Group restated a "reduce" rating on shares of C3.ai in a research note on Thursday, February 26th. Wedbush dropped their price objective on C3.ai from $20.00 to $15.00 and set an "outperform" rating on the stock in a research note on Thursday, February 26th. KeyCorp dropped their price objective on C3.ai from $10.00 to $6.00 and set an "underweight" rating on the stock in a research note on Thursday, February 26th. Wolfe Research restated an "underperform" rating and set a $6.00 price objective on shares of C3.ai in a research note on Thursday, February 26th. Finally, JPMorgan Chase & Co. dropped their price objective on C3.ai from $10.00 to $7.00 and set an "underweight" rating on the stock in a research note on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, seven have assigned a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average target price of $15.87.

C3.ai Price Performance

NYSE AI opened at $9.87 on Monday. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of -3.13 and a beta of 2.00. C3.ai, Inc. has a one year low of $7.68 and a one year high of $30.24. The business's fifty day moving average is $8.83 and its 200-day moving average is $12.12.

C3.ai (NYSE:AI - Get Free Report) last released its earnings results on Wednesday, February 25th. The company reported ($0.40) EPS for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.11). The business had revenue of $53.26 million for the quarter, compared to the consensus estimate of $75.91 million. C3.ai had a negative return on equity of 55.40% and a negative net margin of 141.35%.The company's revenue for the quarter was down 46.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.12) earnings per share. Research analysts expect that C3.ai, Inc. will post -3.22 EPS for the current fiscal year.

C3.ai Company Profile

C3.ai, Inc is a leading enterprise software provider focused on delivering scalable artificial intelligence (AI) and Internet of Things (IoT) solutions to large organizations. The company's core offering, the C3 AI Suite, is a comprehensive, model-driven platform that unifies data ingestion, model development, and application deployment. Through its suite of tools, C3.ai enables customers to accelerate digital transformation initiatives by applying advanced machine learning, predictive analytics, and AI-driven insights across a broad range of business functions.

The C3 AI Suite provides a low-code environment for data scientists and application developers to rapidly design, test, and deploy enterprise-scale AI applications.

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