Swiss National Bank Purchases 5,500 Shares of C3.ai, Inc. (NYSE:AI)

Swiss National Bank raised its position in C3.ai, Inc. (NYSE:AI) by 2.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 218,700 shares of the company’s stock after buying an additional 5,500 shares during the period. Swiss National Bank owned about 0.17% of C3.ai worth $7,530,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in shares of C3.ai by 8.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company’s stock valued at $53,728,000 after purchasing an additional 178,870 shares during the period. State Street Corp raised its stake in shares of C3.ai by 1.8% in the 3rd quarter. State Street Corp now owns 2,121,391 shares of the company’s stock valued at $51,401,000 after purchasing an additional 38,185 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of C3.ai by 10.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 933,139 shares of the company’s stock valued at $32,128,000 after purchasing an additional 88,750 shares during the period. Bank of New York Mellon Corp raised its stake in shares of C3.ai by 1.3% in the 4th quarter. Bank of New York Mellon Corp now owns 695,893 shares of the company’s stock valued at $23,960,000 after purchasing an additional 8,772 shares during the period. Finally, Rhumbline Advisers grew its holdings in shares of C3.ai by 39.4% in the 4th quarter. Rhumbline Advisers now owns 166,378 shares of the company’s stock valued at $5,728,000 after acquiring an additional 47,028 shares in the last quarter. 38.96% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Thomas M. Siebel sold 409,831 shares of C3.ai stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $30.97, for a total value of $12,692,466.07. Following the completion of the sale, the chief executive officer now directly owns 1,756,390 shares in the company, valued at approximately $54,395,398.30. The trade was a 18.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard C. Levin sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $34.80, for a total transaction of $417,600.00. Following the transaction, the director now owns 161,664 shares of the company’s stock, valued at approximately $5,625,907.20. This represents a 6.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,510,546 shares of company stock worth $43,235,262. Corporate insiders own 33.54% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on AI shares. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a report on Thursday, February 27th. JMP Securities lifted their price target on C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a report on Tuesday, December 10th. Morgan Stanley reduced their price target on C3.ai from $32.00 to $30.00 and set an “underweight” rating for the company in a report on Thursday, February 27th. DA Davidson reduced their price target on C3.ai from $40.00 to $25.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Finally, Piper Sandler reduced their price target on C3.ai from $42.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $31.33.

C3.ai Stock Up 1.2 %

Shares of NYSE:AI opened at $22.65 on Friday. C3.ai, Inc. has a 12-month low of $18.85 and a 12-month high of $45.08. The stock has a market cap of $3.01 billion, a PE ratio of -10.25 and a beta of 2.03. The business has a 50 day moving average of $28.42 and a 200-day moving average of $29.33.

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