Amundi Has $1.65 Million Stock Position in C3.ai, Inc. (NYSE:AI)

Amundi grew its position in shares of C3.ai, Inc. (NYSE:AI - Free Report) by 604.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,571 shares of the company's stock after purchasing an additional 42,533 shares during the period. Amundi's holdings in C3.ai were worth $1,651,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of AI. HM Payson & Co. increased its stake in C3.ai by 152.9% during the fourth quarter. HM Payson & Co. now owns 1,477 shares of the company's stock worth $51,000 after acquiring an additional 893 shares during the last quarter. Edgestream Partners L.P. purchased a new position in C3.ai in the fourth quarter valued at approximately $1,347,000. Raymond James Financial Inc. acquired a new position in C3.ai during the fourth quarter valued at approximately $3,942,000. Arizona State Retirement System increased its position in shares of C3.ai by 2.6% in the fourth 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 in the last quarter. Finally, Cookson Peirce & Co. Inc. acquired a new position in shares of C3.ai during the 4th quarter valued at $816,000. Institutional investors and hedge funds own 38.96% of the company's stock.

C3.ai Stock Performance

Shares of NYSE:AI traded up $0.27 on Friday, hitting $22.65. 3,861,871 shares of the company were exchanged, compared to its average volume of 5,236,766. The company's 50 day moving average price is $28.62 and its two-hundred day moving average price is $29.29. C3.ai, Inc. has a one year low of $18.85 and a one year high of $45.08. The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of -10.25 and a beta of 2.03.

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C3.ai (NYSE:AI - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.62) EPS 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 the consensus estimate of $98.12 million. C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. Research analysts predict that C3.ai, Inc. will post -2.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. cut 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 report on Wednesday, December 11th. KeyCorp decreased their target price on C3.ai from $29.00 to $21.00 and set an "underweight" rating for the company in a research report on Thursday, February 27th. Needham & Company LLC reissued a "hold" rating on shares of C3.ai in a report on Thursday, February 27th. Morgan Stanley cut their target price on shares of C3.ai from $32.00 to $30.00 and set an "underweight" rating on the stock in a report on Thursday, February 27th. Finally, DA Davidson lowered their target price on C3.ai from $40.00 to $25.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. Five research analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $31.33.

Insider Activity at C3.ai

In other C3.ai news, CEO Thomas M. Siebel sold 216,974 shares of the business's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $21.88, for a total value of $4,747,391.12. Following the transaction, the chief executive officer now directly owns 726,177 shares in the company, valued at $15,888,752.76. The trade was a 23.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Merel Witteveen sold 11,132 shares of the firm's stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $34.95, for a total transaction of $389,063.40. Following the sale, the vice president now directly owns 4,142 shares of the company's stock, valued at approximately $144,762.90. The trade was a 72.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,509,413 shares of company stock valued at $43,210,053 over the last quarter. 33.54% of the stock is owned by company insiders.

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.