C3.ai, Inc. (NYSE:AI) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC raised its holdings in shares of C3.ai, Inc. (NYSE:AI - Free Report) by 14.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,529,991 shares of the company's stock after acquiring an additional 313,066 shares during the period. Geode Capital Management LLC owned about 1.96% of C3.ai worth $87,128,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in AI. Brown Lisle Cummings Inc. raised its stake in C3.ai by 100.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company's stock valued at $28,000 after buying an additional 400 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of C3.ai by 72.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,322 shares of the company's stock worth $46,000 after buying an additional 555 shares during the period. Corient Private Wealth LLC increased its stake in C3.ai by 2.4% in the 4th quarter. Corient Private Wealth LLC now owns 23,371 shares of the company's stock worth $805,000 after buying an additional 555 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake in C3.ai by 35.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,128 shares of the company's stock valued at $71,000 after purchasing an additional 560 shares during the period. Finally, Arizona State Retirement System lifted its holdings in shares of C3.ai by 2.6% in the fourth quarter. Arizona State Retirement System now owns 32,265 shares of the company's stock worth $1,111,000 after buying an additional 826 shares in the last quarter. 38.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on AI. KeyCorp decreased their price target on shares of C3.ai from $29.00 to $21.00 and set an "underweight" rating on the stock in a research note on Thursday, February 27th. Needham & Company LLC reissued a "hold" rating on shares of C3.ai in a report on Thursday, February 27th. Canaccord Genuity Group decreased their price target on shares of 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 reduced their target price on shares of C3.ai from $25.00 to $18.00 and set a "neutral" rating on the stock in a report on Monday. Finally, Piper Sandler dropped their price target on C3.ai from $42.00 to $28.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. Five investment analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $30.75.

Insider Buying and Selling at C3.ai

In other C3.ai news, VP Merel Witteveen sold 1,133 shares of the business's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $22.25, for a total transaction of $25,209.25. Following the sale, the vice president now directly owns 7,287 shares in the company, valued at approximately $162,135.75. The trade was a 13.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas M. Siebel sold 552,422 shares of the firm's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $33.04, for a total transaction of $18,252,022.88. Following the completion of the sale, the chief executive officer now owns 1,336,968 shares of the company's stock, valued at $44,173,422.72. This trade represents a 29.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,076,982 shares of company stock valued at $29,715,097 in the last ninety days. Insiders own 33.54% of the company's stock.

C3.ai Price Performance

Shares of C3.ai stock traded down $0.26 during trading on Wednesday, hitting $19.71. 500,622 shares of the stock were exchanged, compared to its average volume of 5,209,450. The firm's 50-day moving average price is $24.05 and its 200 day moving average price is $29.02. C3.ai, Inc. has a 12-month low of $17.03 and a 12-month high of $45.08. The stock has a market cap of $2.62 billion, a price-to-earnings ratio of -8.92 and a beta of 2.01.

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

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.