Vontobel Holding Ltd. Invests $365,000 in C3.ai, Inc. (NYSE:AI)

Vontobel Holding Ltd. bought a new stake in C3.ai, Inc. (NYSE:AI - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 17,350 shares of the company's stock, valued at approximately $365,000.

Other hedge funds have also added to or reduced their stakes 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 valued at $32,128,000 after acquiring an additional 88,750 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of C3.ai during the 4th quarter worth about $3,159,000. Vanguard Group Inc. lifted its stake in shares of C3.ai by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 12,935,969 shares of the company's stock worth $445,385,000 after buying an additional 446,529 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of C3.ai by 4,846.5% during the 1st quarter. GAMMA Investing LLC now owns 12,020 shares of the company's stock worth $253,000 after buying an additional 11,777 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of C3.ai by 14.1% during the 4th quarter. Geode Capital Management LLC now owns 2,529,991 shares of the company's stock worth $87,128,000 after buying an additional 313,066 shares during the last quarter. Institutional investors own 38.96% of the company's stock.

C3.ai Trading Up 3.2%

NYSE:AI traded up $0.85 during mid-day trading on Wednesday, hitting $27.22. 1,336,252 shares of the company's stock were exchanged, compared to its average volume of 5,281,646. The company has a 50 day simple moving average of $24.16 and a 200-day simple moving average of $26.11. C3.ai, Inc. has a fifty-two week low of $17.03 and a fifty-two week high of $45.08. The firm has a market capitalization of $3.66 billion, a P/E ratio of -12.15 and a beta of 1.99.

C3.ai (NYSE:AI - Get Free Report) last issued 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. The firm had revenue of $108.72 million for the quarter, compared to the consensus estimate of $107.85 million. C3.ai had a negative net margin of 74.21% and a negative return on equity of 33.51%. The company's revenue for the quarter was up 25.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.11) EPS. As a group, analysts expect that C3.ai, Inc. will post -2.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. DA Davidson dropped their price objective on shares of C3.ai from $25.00 to $18.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Morgan Stanley lifted 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, May 29th. Westpark Capital started coverage on shares of C3.ai in a research note on Wednesday. They issued a "buy" rating and a $40.00 price objective for the company. JPMorgan Chase & Co. decreased their target price on shares of C3.ai from $27.00 to $23.00 and set an "underweight" rating on the stock in a report on Thursday, May 29th. Finally, Oppenheimer decreased their target price on shares of C3.ai from $56.00 to $45.00 and set an "outperform" rating on the stock in a report on Thursday, May 29th. Five investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, C3.ai presently has an average rating of "Hold" and a consensus target price of $30.14.

Insider Transactions at C3.ai

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 shares were sold at an average price of $24.96, for a total value of $441,517.44. Following the transaction, the chief financial officer owned 166,218 shares in the company, valued at approximately $4,148,801.28. The trade was a 9.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas M. Siebel sold 601,498 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $25.02, for a total transaction of $15,049,479.96. Following the transaction, the chief executive officer directly owned 3,816,802 shares in the company, valued at approximately $95,496,386.04. This represents a 13.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,770,419 shares of company stock worth $41,992,834. Company insiders own 33.54% 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.