C3.ai, Inc. (NYSE:AI) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in C3.ai, Inc. (NYSE:AI) by 33.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 32,148 shares of the company’s stock after buying an additional 8,095 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in C3.ai were worth $1,107,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in AI. Brown Lisle Cummings Inc. boosted its holdings in shares of C3.ai by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock valued at $28,000 after purchasing an additional 400 shares during the last quarter. R Squared Ltd purchased a new position in shares of C3.ai in the 4th quarter worth $29,000. CENTRAL TRUST Co acquired a new position in C3.ai in the fourth quarter valued at $34,000. Global Retirement Partners LLC grew its position in C3.ai by 1,004.0% during the fourth quarter. Global Retirement Partners LLC now owns 1,115 shares of the company’s stock valued at $38,000 after acquiring an additional 1,014 shares during the period. Finally, Quest Partners LLC increased 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 acquiring an additional 1,626 shares during the last quarter. 38.96% of the stock is currently owned by hedge funds and other institutional investors.

C3.ai Stock Performance

NYSE:AI opened at $22.66 on Thursday. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of -10.25 and a beta of 2.03. C3.ai, Inc. has a one year low of $18.85 and a one year high of $45.08. The business’s 50-day simple moving average is $28.84 and its 200 day simple moving average is $29.34.

C3.ai (NYSE:AI) last announced its earnings results 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 business had revenue of $98.78 million during the quarter, compared to analyst estimates of $98.12 million. C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. On average, equities research analysts predict that C3.ai, Inc. will post -2.44 EPS for the current year.

Insider Activity at C3.ai

In related news, 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 value of $12,692,466.07. Following the completion of the sale, the chief executive officer now directly owns 1,756,390 shares of the company’s stock, valued at $54,395,398.30. The trade was a 18.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Merel Witteveen sold 11,132 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $34.95, for a total value of $389,063.40. Following the transaction, the vice president now directly owns 4,142 shares in the company, valued at approximately $144,762.90. This represents a 72.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,509,413 shares of company stock valued at $43,210,053 over the last ninety days. Corporate insiders own 33.54% of the company’s stock.

Analysts Set New Price Targets

AI has been the subject of a number of research reports. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a report on Thursday, February 27th. Northland Securities lifted their price target on shares of C3.ai from $35.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. DA Davidson dropped their price objective on shares of C3.ai from $40.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. KeyCorp reduced their target price on shares of C3.ai from $29.00 to $21.00 and set an “underweight” rating on the stock in a report on Thursday, February 27th. Finally, 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. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average 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.