C3.ai, Inc. $AI Shares Bought by Vident Advisory LLC

Key Points

• Vident Advisory LLC significantly increased its holdings in C3.ai, Inc. by 3,935.9% during the first quarter, acquiring an additional 554,406 shares to reach a total of 568,492 shares, valued at approximately $11.97 million.
• Several institutional investors, including Two Sigma Investments and Vanguard Group, also made substantial investments in C3.ai during the fourth quarter, with hedge funds owning about 38.96% of the company's stock.
• C3.ai reported a revenue increase of 25.5% year-over-year and topped earnings estimates, yet continues to face challenges with a negative net margin of 74.21%.

Vident Advisory LLC boosted its holdings in C3.ai, Inc. (NYSE:AI - Free Report) by 3,935.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 568,492 shares of the company's stock after purchasing an additional 554,406 shares during the quarter. Vident Advisory LLC owned about 0.43% of C3.ai worth $11,967,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Zweig DiMenna Associates LLC purchased a new stake in shares of C3.ai during the first quarter worth approximately $274,000. Liontrust Investment Partners LLP lifted its holdings in C3.ai by 203.2% in the first quarter. Liontrust Investment Partners LLP now owns 144,288 shares of the company's stock valued at $3,037,000 after acquiring an additional 96,695 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in C3.ai in the first quarter valued at $668,000. Banque Cantonale Vaudoise purchased a new position in shares of C3.ai in the first quarter valued at $390,000. Finally, GAMMA Investing LLC increased its position in shares of C3.ai by 4,846.5% in the first quarter. GAMMA Investing LLC now owns 12,020 shares of the company's stock valued at $253,000 after buying an additional 11,777 shares in the last quarter. Hedge funds and other institutional investors own 38.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Morgan Stanley raised their price target on 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 reduced their price objective on C3.ai from $28.00 to $27.00 and set a "neutral" rating on the stock in a research note on Thursday, June 26th. DA Davidson reaffirmed an "underperform" rating and issued a $13.00 price objective (down from $25.00) on shares of C3.ai in a research note on Monday, August 11th. Needham & Company LLC reaffirmed a "hold" rating on shares of C3.ai in a research report on Monday, August 11th. Finally, Piper Sandler reduced their target price on C3.ai from $28.00 to $27.00 and set a "neutral" rating for the company in a research note on Thursday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eight have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, C3.ai has a consensus rating of "Reduce" and an average price target of $27.43.

C3.ai Price Performance

Shares of AI stock traded down $0.14 on Tuesday, hitting $16.77. 3,538,444 shares of the stock traded hands, compared to its average volume of 6,049,932. The company has a market capitalization of $2.25 billion, a PE ratio of -7.49 and a beta of 1.96. C3.ai, Inc. has a 1-year low of $14.70 and a 1-year high of $45.08. The company's fifty day moving average is $22.88 and its 200 day moving average is $23.00.

Insider Buying and Selling

In other C3.ai news, CEO Thomas M. Siebel sold 577,678 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $16.78, for a total value of $9,693,436.84. Following the sale, the chief executive officer directly owned 2,973,572 shares of the company's stock, valued at $49,896,538.16. This trade represents a 16.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Hitesh Lath sold 17,689 shares of the stock in a transaction 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. This represents a 9.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,145,568 shares of company stock valued at $50,241,976 over the last three months. Corporate insiders own 26.50% of the company's stock.

C3.ai Company 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.