Raiffeisen Bank International AG Takes $36,000 Position in C3.ai, Inc. (NYSE:AI)

Raiffeisen Bank International AG purchased a new stake in shares of C3.ai, Inc. (NYSE:AI) in the 4th quarter, Holdings Channel reports. The fund purchased 1,032 shares of the company’s stock, valued at approximately $36,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AI. Man Group plc purchased a new stake in shares of C3.ai during the 4th quarter valued at about $38,455,000. Renaissance Technologies LLC increased its holdings in C3.ai by 1,242.5% in the 4th quarter. Renaissance Technologies LLC now owns 718,231 shares of the company’s stock worth $24,729,000 after acquiring an additional 664,731 shares in the last quarter. Vanguard Group Inc. increased its holdings in C3.ai by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 12,935,969 shares of the company’s stock worth $445,385,000 after acquiring an additional 446,529 shares in the last quarter. Geode Capital Management LLC increased its holdings in C3.ai by 14.1% in the 4th quarter. Geode Capital Management LLC now owns 2,529,991 shares of the company’s stock worth $87,128,000 after acquiring an additional 313,066 shares in the last quarter. Finally, Norges Bank purchased a new stake in C3.ai in the 4th quarter worth approximately $9,271,000. Hedge funds and other institutional investors own 38.96% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a report on Thursday, February 27th. Canaccord Genuity Group reduced their target price on shares of C3.ai from $40.00 to $30.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Morgan Stanley reduced their target price on shares of C3.ai from $30.00 to $20.00 and set an “underweight” rating for the company in a report on Wednesday, April 16th. DA Davidson cut their price objective on shares of C3.ai from $25.00 to $18.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Finally, KeyCorp cut their price objective on shares of C3.ai from $21.00 to $17.00 and set an “underweight” rating for the company in a report on Thursday, April 17th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $29.58.

Insider Activity

In related news, CEO Thomas M. Siebel sold 341,698 shares of the firm’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $24.00, for a total value of $8,200,752.00. Following the completion of the sale, the chief executive officer now directly owns 4,674,643 shares in the company, valued at $112,191,432. This trade represents a 6.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas M. Siebel sold 13,567 shares of the firm’s stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $19.47, for a total value of $264,149.49. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,523,332 shares of company stock worth $33,894,663. 33.54% of the stock is currently owned by insiders.

C3.ai Stock Performance

NYSE AI opened at $23.13 on Tuesday. The company has a market capitalization of $3.07 billion, a P/E ratio of -10.47 and a beta of 1.99. C3.ai, Inc. has a one year low of $17.03 and a one year high of $45.08. The stock has a 50 day moving average price of $21.60 and a 200-day moving average price of $28.52.

C3.ai (NYSE:AI) last posted its earnings results on Wednesday, February 26th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.37). The firm had revenue of $98.78 million for 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%. As a group, equities analysts predict that C3.ai, Inc. will post -2.44 EPS for the current fiscal 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.