C3.ai, Inc. (NYSE:AI) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its stake in shares of C3.ai, Inc. (NYSE:AI) by 10.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 933,139 shares of the company’s stock after acquiring an additional 88,750 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in C3.ai were worth $32,128,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Geode Capital Management LLC boosted its stake in shares of C3.ai by 8.8% during the third quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company’s stock worth $53,728,000 after buying an additional 178,870 shares during the period. State Street Corp lifted its position in C3.ai by 1.8% during the 3rd quarter. State Street Corp now owns 2,121,391 shares of the company’s stock worth $51,401,000 after acquiring an additional 38,185 shares during the period. Bank of New York Mellon Corp lifted its position in C3.ai by 1.3% during the 4th quarter. Bank of New York Mellon Corp now owns 695,893 shares of the company’s stock worth $23,960,000 after acquiring an additional 8,772 shares during the period. Rhumbline Advisers increased its holdings in shares of C3.ai by 39.4% in the fourth quarter. Rhumbline Advisers now owns 166,378 shares of the company’s stock valued at $5,728,000 after purchasing an additional 47,028 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of C3.ai during the fourth quarter worth $3,996,000. Institutional investors and hedge funds own 38.96% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on AI. Piper Sandler reduced their price target on C3.ai from $42.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. KeyCorp cut their price target on shares of C3.ai from $29.00 to $21.00 and set an “underweight” rating for the company 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. Northland Securities increased their target price on shares of C3.ai from $35.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. lowered C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price target on the stock. in a research note on Wednesday, December 11th. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $31.33.

C3.ai Stock Up 3.1 %

Shares of NYSE:AI opened at $21.57 on Monday. The business has a fifty day simple moving average of $29.62 and a 200-day simple moving average of $29.40. C3.ai, Inc. has a 52 week low of $18.85 and a 52 week high of $45.08. The company has a market cap of $2.86 billion, a P/E ratio of -9.76 and a beta of 2.03.

C3.ai (NYSE:AI) last announced 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 company had revenue of $98.78 million for the quarter, compared to analysts’ expectations of $98.12 million. Sell-side analysts expect that C3.ai, Inc. will post -2.44 earnings per share for the current fiscal year.

Insider Buying and Selling at C3.ai

In other news, Director Jim H. Snabe sold 499,700 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $43.05, for a total transaction of $21,512,085.00. Following the completion of the sale, the director now owns 10,000 shares in the company, valued at approximately $430,500. The trade was a 98.04 % decrease in their position. The sale 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 firm’s stock in a transaction that occurred 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 completion of 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 disclosure for this sale can be found here. Insiders have sold a total of 1,501,972 shares of company stock worth $53,818,532 in the last quarter. 33.54% of the stock is owned by 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.