Handelsbanken Fonder AB Takes Position in C3.ai, Inc. (NYSE:AI)

Handelsbanken Fonder AB purchased a new stake in shares of C3.ai, Inc. (NYSE:AI - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 26,800 shares of the company's stock, valued at approximately $923,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ieq Capital LLC grew its holdings in shares of C3.ai by 4.1% during the fourth quarter. Ieq Capital LLC now owns 25,064 shares of the company's stock worth $863,000 after purchasing an additional 983 shares in the last quarter. Global Retirement Partners LLC lifted its stake in C3.ai by 1,004.0% in the fourth quarter. Global Retirement Partners LLC now owns 1,115 shares of the company's stock worth $38,000 after acquiring an additional 1,014 shares during the period. New York State Common Retirement Fund raised its position in shares of C3.ai by 9.2% in the 4th quarter. New York State Common Retirement Fund now owns 30,896 shares of the company's stock worth $1,064,000 after acquiring an additional 2,600 shares in the last quarter. AlphaCentric Advisors LLC bought a new stake in C3.ai during the fourth quarter worth about $344,000. Finally, Principal Financial Group Inc. purchased a new position in shares of C3.ai in the 4th quarter worth about $324,000. 38.96% of the stock is owned by hedge funds and other institutional investors.

C3.ai Trading Up 2.8 %

Shares of C3.ai stock traded up $0.61 during trading hours on Tuesday, reaching $22.64. 4,824,038 shares of the company's stock were exchanged, compared to its average volume of 5,220,983. The firm has a market capitalization of $2.92 billion, a price-to-earnings ratio of -10.24 and a beta of 1.98. The company has a fifty day moving average of $32.13 and a 200-day moving average of $29.58. C3.ai, Inc. has a 52-week low of $18.85 and a 52-week high of $45.08.

C3.ai (NYSE:AI - Get Free Report) last issued its earnings results 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 company had revenue of $98.78 million during the quarter, compared to analysts' expectations of $98.12 million. On average, equities research analysts anticipate that C3.ai, Inc. will post -2.44 earnings per share for the current fiscal year.

Insider Activity at C3.ai

In other news, VP Merel Witteveen sold 11,132 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 4,142 shares of the company's stock, valued at $144,762.90. This represents a 72.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas M. Siebel sold 552,422 shares of the business's stock in a transaction on Tuesday, February 11th. The shares were 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 owns 1,336,968 shares in the company, valued at approximately $44,173,422.72. This represents a 29.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,643,311 shares of company stock worth $59,736,620 over the last quarter. 33.54% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

AI has been the subject of several analyst reports. StockNews.com upgraded C3.ai to a "sell" rating in a research note on Tuesday, November 26th. Piper Sandler dropped their price objective on C3.ai from $42.00 to $28.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. Canaccord Genuity Group decreased their price objective on C3.ai from $40.00 to $30.00 and set a "hold" rating for the company in a report on Thursday, February 27th. Needham & Company LLC reaffirmed a "hold" rating on shares of C3.ai in a research report on Thursday, February 27th. Finally, KeyCorp decreased 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. 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 issued a strong buy rating to the company. According to MarketBeat.com, C3.ai has an average rating of "Hold" and a consensus target price of $31.33.

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.