C3.ai, Inc. (NYSE:AI) Stock Position Increased by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board boosted its position in shares of C3.ai, Inc. (NYSE:AI) by 191.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 30,300 shares of the company’s stock after buying an additional 19,900 shares during the period. Canada Pension Plan Investment Board’s holdings in C3.ai were worth $1,043,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Brown Lisle Cummings Inc. lifted its holdings in C3.ai by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock valued at $28,000 after acquiring an additional 400 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in C3.ai by 100.7% during the fourth quarter. Russell Investments Group Ltd. now owns 909 shares of the company’s stock valued at $31,000 after purchasing an additional 456 shares during the last quarter. Legal & General Group Plc boosted its holdings in C3.ai by 0.4% during the fourth quarter. Legal & General Group Plc now owns 119,144 shares of the company’s stock worth $4,102,000 after buying an additional 517 shares in the last quarter. Geneos Wealth Management Inc. grew its position in 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 last quarter. Finally, Corient Private Wealth LLC increased its holdings in shares of C3.ai by 2.4% in the fourth quarter. Corient Private Wealth LLC now owns 23,371 shares of the company’s stock valued at $805,000 after buying an additional 555 shares in the last quarter. 38.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AI has been the subject of several research reports. DA Davidson reduced their price objective on C3.ai from $25.00 to $18.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research note on Thursday, February 27th. Morgan Stanley reduced their price objective on shares of C3.ai from $30.00 to $20.00 and set an “underweight” rating for the company in a research note on Wednesday, April 16th. KeyCorp dropped their target price on shares of C3.ai from $21.00 to $17.00 and set an “underweight” rating on the stock in a research report on Thursday, April 17th. Finally, Piper Sandler reduced their price target on shares of 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 equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $29.58.

Insider Activity

In other C3.ai news, CEO Thomas M. Siebel sold 552,422 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $33.04, for a total transaction of $18,252,022.88. Following the transaction, the chief executive officer now owns 1,336,968 shares in the company, valued at $44,173,422.72. This trade represents a 29.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Thomas M. Siebel sold 13,567 shares of the business’s stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $19.47, for a total transaction of $264,149.49. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,446,967 shares of company stock worth $37,175,326. 33.54% of the stock is owned by corporate insiders.

C3.ai Price Performance

Shares of NYSE AI opened at $22.04 on Friday. C3.ai, Inc. has a one year low of $17.03 and a one year high of $45.08. The business’s 50-day moving average price is $22.26 and its two-hundred day moving average price is $28.81. The company has a market capitalization of $2.93 billion, a P/E ratio of -9.97 and a beta of 2.01.

C3.ai (NYSE:AI) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.37). The firm had revenue of $98.78 million during the quarter, compared to the consensus estimate of $98.12 million. C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. On average, equities analysts anticipate that C3.ai, Inc. will post -2.44 EPS for the current year.

About C3.ai

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.