C3.ai, Inc. (NYSE:AI) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC grew its holdings in C3.ai, Inc. (NYSE:AI - Free Report) by 14.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,529,991 shares of the company's stock after acquiring an additional 313,066 shares during the quarter. Geode Capital Management LLC owned 1.96% of C3.ai worth $87,128,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of AI. FMR LLC increased its holdings in shares of C3.ai by 149.2% in the third quarter. FMR LLC now owns 13,994 shares of the company's stock valued at $339,000 after purchasing an additional 8,378 shares during the period. Janus Henderson Group PLC raised its position in C3.ai by 21.3% during the 3rd quarter. Janus Henderson Group PLC now owns 52,182 shares of the company's stock worth $1,265,000 after buying an additional 9,160 shares during the last quarter. State Street Corp lifted its stake in C3.ai by 1.8% during the 3rd quarter. State Street Corp now owns 2,121,391 shares of the company's stock valued at $51,401,000 after acquiring an additional 38,185 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of C3.ai by 28.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 14,400 shares of the company's stock valued at $496,000 after acquiring an additional 3,161 shares during the last quarter. Finally, TT International Asset Management LTD acquired a new stake in shares of C3.ai in the fourth quarter worth $482,000. 38.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at C3.ai

In related news, Director Richard C. Levin sold 12,000 shares of the business'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 sale, the director now directly owns 161,664 shares in the company, valued at approximately $4,824,053.76. The trade was a 6.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas M. Siebel sold 552,422 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $33.04, for a total transaction of $18,252,022.88. Following the transaction, the chief executive officer now directly owns 1,336,968 shares of the company's stock, valued at approximately $44,173,422.72. This trade represents a 29.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,076,982 shares of company stock worth $29,715,097 in the last three months. 33.54% of the stock is owned by corporate insiders.

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Analysts Set New Price Targets

AI has been the topic of several recent research reports. DA Davidson lowered their price target on shares of C3.ai from $25.00 to $18.00 and set a "neutral" rating on the stock in a report on Monday. KeyCorp dropped their target price on C3.ai from $29.00 to $21.00 and set an "underweight" rating on the stock in a report on Thursday, February 27th. Needham & Company LLC reissued a "hold" rating on shares of C3.ai in a report on Thursday, February 27th. Piper Sandler dropped their price objective 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. Finally, Morgan Stanley decreased their target price on shares of C3.ai from $32.00 to $30.00 and set an "underweight" rating for the company in a research note on Thursday, February 27th. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $30.75.

C3.ai Trading Down 0.7 %

AI stock traded down $0.15 during midday trading on Tuesday, reaching $19.91. The stock had a trading volume of 1,675,553 shares, compared to its average volume of 5,229,800. C3.ai, Inc. has a 52-week low of $17.03 and a 52-week high of $45.08. The company's fifty day simple moving average is $24.33 and its 200 day simple moving average is $29.08. The company has a market cap of $2.64 billion, a price-to-earnings ratio of -9.01 and a beta of 2.01.

C3.ai (NYSE:AI - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.62) earnings per share for the quarter, missing analysts' consensus estimates 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. Sell-side analysts predict that C3.ai, Inc. will post -2.44 EPS for the current year.

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.