Swiss National Bank Has $7.53 Million Stock Position in C3.ai, Inc. (NYSE:AI)

Swiss National Bank grew its stake in shares of C3.ai, Inc. (NYSE:AI) by 2.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 218,700 shares of the company’s stock after acquiring an additional 5,500 shares during the period. Swiss National Bank’s holdings in C3.ai were worth $7,530,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brown Lisle Cummings Inc. grew its stake in shares of C3.ai by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock worth $28,000 after purchasing an additional 400 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of C3.ai by 3.4% during the third quarter. Victory Capital Management Inc. now owns 14,078 shares of the company’s stock valued at $341,000 after purchasing an additional 457 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of C3.ai by 72.4% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,322 shares of the company’s stock valued at $46,000 after purchasing an additional 555 shares during the period. Arizona State Retirement System raised its holdings in shares of C3.ai by 2.6% in the 4th quarter. Arizona State Retirement System now owns 32,265 shares of the company’s stock worth $1,111,000 after acquiring an additional 826 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in shares of C3.ai in the 4th quarter worth about $29,000. Institutional investors own 38.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a 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 for the company in a research report on Thursday, February 27th. Canaccord Genuity Group cut their price objective on shares of C3.ai from $40.00 to $30.00 and set a “hold” rating for the company in a report on Thursday, February 27th. DA Davidson cut their price objective 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, Piper Sandler lowered their target price on shares of C3.ai from $42.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Five 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $31.33.

C3.ai Stock Performance

C3.ai stock opened at $22.65 on Friday. The firm’s fifty day moving average price is $28.42 and its 200-day moving average price is $29.33. The stock has a market cap of $3.01 billion, a P/E ratio of -10.25 and a beta of 2.03. C3.ai, Inc. has a fifty-two week low of $18.85 and a fifty-two week high of $45.08.

C3.ai (NYSE:AI) last issued its earnings results on Wednesday, February 26th. The company reported ($0.62) 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 analysts’ expectations of $98.12 million. C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. On average, analysts predict that C3.ai, Inc. will post -2.44 earnings per share for the current year.

Insider Buying and Selling

In other C3.ai news, VP Merel Witteveen sold 11,132 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $34.95, for a total value of $389,063.40. Following the sale, the vice president now owns 4,142 shares of the company’s stock, valued at $144,762.90. This trade represents a 72.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas M. Siebel sold 294,116 shares of C3.ai stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $21.50, for a total transaction of $6,323,494.00. Following the sale, the chief executive officer now directly owns 943,151 shares in the company, valued at $20,277,746.50. The trade was a 23.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,510,546 shares of company stock worth $43,235,262 in the last 90 days. 33.54% of the stock is owned by company insiders.

C3.ai Company 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.