26,800 Shares in C3.ai, Inc. (NYSE:AI) Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB purchased a new position in C3.ai, Inc. (NYSE:AI) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 26,800 shares of the company’s stock, valued at approximately $923,000.

A number of other hedge funds also recently modified their holdings of AI. Geode Capital Management LLC raised its holdings in C3.ai by 8.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company’s stock valued at $53,728,000 after acquiring an additional 178,870 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in C3.ai by 12.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock valued at $20,460,000 after acquiring an additional 92,280 shares during the period. Hodges Capital Management Inc. bought a new stake in C3.ai during the 3rd quarter valued at $1,955,000. PDT Partners LLC bought a new stake in C3.ai during the 3rd quarter valued at $1,624,000. Finally, Strategic Financial Concepts LLC purchased a new stake in shares of C3.ai in the fourth quarter worth $2,015,000. Institutional investors own 38.96% of the company’s stock.

Insider Buying and Selling

In related news, CEO Thomas M. Siebel sold 552,422 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $33.04, for a total value of $18,252,022.88. Following the sale, the chief executive officer now directly owns 1,336,968 shares of the company’s stock, valued at $44,173,422.72. This trade represents a 29.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Hitesh Lath sold 11,339 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $42.00, for a total value of $476,238.00. Following the completion of the sale, the chief financial officer now directly owns 851 shares in the company, valued at $35,742. The trade was a 93.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,643,311 shares of company stock valued at $59,736,620 over the last ninety days. 33.54% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Canaccord Genuity Group lowered their price objective on C3.ai from $40.00 to $30.00 and set a “hold” rating on the stock in a research report on Thursday. Northland Securities increased their price objective on C3.ai from $35.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. downgraded C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price objective on the stock. in a research report on Wednesday, December 11th. JMP Securities increased their price objective on C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a research report on Tuesday, December 10th. Finally, DA Davidson lowered their price target on C3.ai from $40.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $31.33.

C3.ai Trading Down 1.8 %

Shares of NYSE:AI opened at $23.44 on Friday. The stock’s 50-day moving average price is $32.39 and its 200-day moving average price is $29.54. C3.ai, Inc. has a 12-month low of $18.85 and a 12-month high of $45.08. The stock has a market capitalization of $3.03 billion, a P/E ratio of -10.61 and a beta of 1.98.

C3.ai (NYSE:AI) last announced 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). The company 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, research analysts predict that C3.ai, Inc. will post -2.44 EPS for the current 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.