Charles Schwab Investment Management Inc. Increases Stake in C3.ai, Inc. (NYSE:AI)

Charles Schwab Investment Management Inc. lifted its stake in C3.ai, Inc. (NYSE:AI) by 10.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 933,139 shares of the company’s stock after buying an additional 88,750 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.72% of C3.ai worth $32,128,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Brown Lisle Cummings Inc. increased its stake in C3.ai by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock worth $28,000 after acquiring an additional 400 shares during the last quarter. R Squared Ltd bought a new position in shares of C3.ai during the 4th quarter valued at approximately $29,000. CENTRAL TRUST Co purchased a new stake in C3.ai during the 4th quarter valued at $34,000. Global Retirement Partners LLC lifted its position in C3.ai by 1,004.0% in the fourth quarter. Global Retirement Partners LLC now owns 1,115 shares of the company’s stock worth $38,000 after buying an additional 1,014 shares during the last quarter. Finally, Quest Partners LLC boosted its stake in C3.ai by 9,033.3% during the third quarter. Quest Partners LLC now owns 1,644 shares of the company’s stock worth $40,000 after buying an additional 1,626 shares during the period. Institutional investors own 38.96% of the company’s stock.

Insider Activity

In other C3.ai news, CEO Thomas M. Siebel sold 409,831 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now owns 1,756,390 shares of the company’s stock, 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 SEC, which is accessible through the SEC website. Also, Director Richard C. Levin sold 12,000 shares of C3.ai stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $29.84, for a total transaction of $358,080.00. Following the transaction, the director now directly owns 161,664 shares in the company, valued at $4,824,053.76. This trade represents a 6.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,501,972 shares of company stock worth $53,818,532 in the last quarter. Corporate insiders own 33.54% of the company’s stock.

Analysts Set New Price Targets

AI has been the topic of several recent analyst reports. JPMorgan Chase & Co. downgraded shares of C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 target price on the stock. in a research note on Wednesday, December 11th. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research note on Thursday, February 27th. Canaccord Genuity Group cut their target price on C3.ai from $40.00 to $30.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. StockNews.com raised C3.ai to a “sell” rating in a research note on Tuesday, November 26th. Finally, JMP Securities upped their price objective on C3.ai from $40.00 to $55.00 and gave the company a “market outperform” rating in a research report on Tuesday, December 10th. Five 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, C3.ai presently has an average rating of “Hold” and an average price target of $31.33.

C3.ai Stock Up 3.1 %

C3.ai stock opened at $21.57 on Monday. The business’s 50-day moving average price is $29.62 and its 200 day moving average price is $29.40. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of -9.76 and a beta of 2.03. C3.ai, Inc. has a 52 week low of $18.85 and a 52 week high of $45.08.

C3.ai (NYSE:AI) last issued 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 analyst estimates of $98.12 million. C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. Equities analysts expect 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.