Handelsbanken Fonder AB Acquires New Shares in C3.ai, Inc. (NYSE:AI)

Handelsbanken Fonder AB acquired a new stake in shares of C3.ai, Inc. (NYSE:AI) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 26,800 shares of the company’s stock, valued at approximately $923,000.

Other hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its position in C3.ai by 12.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock worth $20,460,000 after purchasing an additional 92,280 shares during the last quarter. PDT Partners LLC bought a new position in shares of C3.ai in the 3rd quarter worth about $1,624,000. Janney Montgomery Scott LLC raised its position in shares of C3.ai by 70.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 55,339 shares of the company’s stock worth $1,905,000 after acquiring an additional 22,949 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in shares of C3.ai in the 4th quarter worth about $2,015,000. Finally, Friedenthal Financial bought a new position in shares of C3.ai in the 4th quarter worth about $757,000. Institutional investors and hedge funds own 38.96% of the company’s stock.

C3.ai Stock Performance

AI stock opened at $23.44 on Friday. The company has a market capitalization of $3.03 billion, a P/E ratio of -10.61 and a beta of 1.98. C3.ai, Inc. has a 52-week low of $18.85 and a 52-week high of $45.08. The business has a 50-day simple moving average of $32.39 and a two-hundred day simple moving average of $29.54.

C3.ai (NYSE:AI) last announced its 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 during the quarter, compared to analysts’ expectations of $98.12 million. As a group, sell-side analysts forecast that C3.ai, Inc. will post -2.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. DA Davidson lowered their price objective on C3.ai from $40.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday. StockNews.com raised C3.ai to a “sell” rating in a research report on Tuesday, November 26th. JMP Securities lifted their price objective on C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a research report on Tuesday, December 10th. Northland Securities boosted their target price on C3.ai from $35.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Finally, Canaccord Genuity Group decreased their target price on C3.ai from $40.00 to $30.00 and set a “hold” rating for the company in a research report on Thursday. 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $31.33.

Insider Transactions at C3.ai

In other news, CEO Thomas M. Siebel sold 552,422 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $33.04, for a total value of $18,252,022.88. Following the transaction, the chief executive officer now owns 1,336,968 shares in the company, valued at $44,173,422.72. The trade was a 29.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard C. Levin sold 12,000 shares of C3.ai stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $29.84, for a total transaction of $358,080.00. Following the completion of the sale, the director now directly owns 161,664 shares in the company, valued at $4,824,053.76. This trade represents a 6.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,643,311 shares of company stock worth $59,736,620 in the last 90 days. Insiders own 33.54% of the company’s stock.

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.