C3.ai, Inc. (NYSE:AI) Shares Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board boosted its holdings in C3.ai, Inc. (NYSE:AI - Free Report) by 191.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,300 shares of the company's stock after purchasing an additional 19,900 shares during the quarter. Canada Pension Plan Investment Board's holdings in C3.ai were worth $1,043,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Brown Lisle Cummings Inc. grew its stake in shares of C3.ai by 100.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company's stock valued at $28,000 after buying an additional 400 shares during the period. R Squared Ltd acquired a new position in C3.ai in the fourth quarter valued at $29,000. Russell Investments Group Ltd. grew its position in C3.ai by 100.7% during the fourth quarter. Russell Investments Group Ltd. now owns 909 shares of the company's stock valued at $31,000 after acquiring an additional 456 shares during the period. WealthTrak Capital Management LLC purchased a new stake in C3.ai during the fourth quarter valued at about $33,000. Finally, CENTRAL TRUST Co purchased a new position in shares of C3.ai in the 4th quarter worth about $34,000. 38.96% of the stock is currently owned by institutional investors and hedge funds.

C3.ai Price Performance

C3.ai stock opened at $22.04 on Friday. The company has a market cap of $2.93 billion, a PE ratio of -9.97 and a beta of 2.01. C3.ai, Inc. has a 12 month low of $17.03 and a 12 month high of $45.08. The company has a fifty day moving average price of $22.26 and a two-hundred day moving average price of $28.81.

C3.ai (NYSE:AI - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.37). C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. The business had revenue of $98.78 million for the quarter, compared to analyst estimates of $98.12 million. Equities research analysts anticipate that C3.ai, Inc. will post -2.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AI. Piper Sandler decreased their target price on C3.ai from $42.00 to $28.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. Morgan Stanley decreased their target price on shares of C3.ai from $30.00 to $20.00 and set an "underweight" rating for the company in a research note on Wednesday, April 16th. Canaccord Genuity Group cut their price objective on shares of C3.ai from $40.00 to $30.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. KeyCorp decreased their price objective on shares of C3.ai from $21.00 to $17.00 and set an "underweight" rating for the company in a research report on Thursday, April 17th. Finally, DA Davidson dropped their target price on C3.ai from $25.00 to $18.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Five analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $29.58.

Insider Buying and Selling at C3.ai

In related news, Director Richard C. Levin sold 12,000 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $29.84, for a total value of $358,080.00. Following the completion of the sale, the director now owns 161,664 shares of the company's stock, valued at $4,824,053.76. This represents a 6.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Merel Witteveen sold 1,133 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $22.25, for a total transaction of $25,209.25. Following the completion of the transaction, the vice president now owns 7,287 shares of the company's stock, valued at $162,135.75. This represents a 13.46 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,446,967 shares of company stock worth $37,175,326. 33.54% of the stock is owned by company insiders.

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.

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