C3.ai, Inc. (NYSE:AI) Shares Bought by Corebridge Financial Inc.

Corebridge Financial Inc. grew its holdings in C3.ai, Inc. (NYSE:AI) by 21.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,003 shares of the company’s stock after acquiring an additional 9,774 shares during the period. Corebridge Financial Inc.’s holdings in C3.ai were worth $1,894,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. increased its stake in shares of C3.ai by 12.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock worth $20,460,000 after buying an additional 92,280 shares during the period. Cerity Partners LLC increased its position in shares of C3.ai by 45.2% in the 3rd quarter. Cerity Partners LLC now owns 24,133 shares of the company’s stock valued at $585,000 after purchasing an additional 7,511 shares during the last quarter. FMR LLC lifted its position in shares of C3.ai by 149.2% during the 3rd quarter. FMR LLC now owns 13,994 shares of the company’s stock worth $339,000 after purchasing an additional 8,378 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of C3.ai by 7.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,053 shares of the company’s stock worth $583,000 after purchasing an additional 1,619 shares during the last quarter. Finally, Holocene Advisors LP grew its stake in shares of C3.ai by 98.4% during the third quarter. Holocene Advisors LP now owns 75,780 shares of the company’s stock worth $1,836,000 after purchasing an additional 37,594 shares in the last quarter. Hedge funds and other institutional investors own 38.96% of the company’s stock.

Insider Transactions at C3.ai

In other news, Director Richard C. Levin sold 12,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $29.84, for a total value of $358,080.00. Following the completion of the transaction, the director now owns 161,664 shares in the company, valued at $4,824,053.76. This trade represents a 6.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Thomas M. Siebel sold 409,831 shares of the business’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $30.97, for a total transaction of $12,692,466.07. Following the sale, the chief executive officer now directly owns 1,756,390 shares in the company, valued at approximately $54,395,398.30. This represents a 18.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,486,813 shares of company stock worth $42,407,563 over the last ninety days. 33.54% of the stock is currently owned by company insiders.

C3.ai Trading Up 2.8 %

Shares of AI stock opened at $22.03 on Thursday. C3.ai, Inc. has a twelve month low of $18.85 and a twelve month high of $45.08. The business’s 50 day moving average is $26.88 and its two-hundred day moving average is $29.35. The company has a market capitalization of $2.92 billion, a P/E ratio of -9.97 and a beta of 2.03.

C3.ai (NYSE:AI) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.37). The firm had revenue of $98.78 million during the quarter, compared to analysts’ expectations 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 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AI has been the subject of a number of recent analyst reports. Northland Securities lifted their price target on C3.ai from $35.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Canaccord Genuity Group lowered their price target on C3.ai from $40.00 to $30.00 and set a “hold” rating for the company in a report on Thursday, February 27th. JPMorgan Chase & Co. lowered shares of C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price target on the stock. in a research note on Wednesday, December 11th. DA Davidson lowered their target price on shares of C3.ai from $40.00 to $25.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Finally, KeyCorp cut 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. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $31.33.

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.