Deutsche Bank AG Grows Stake in C3.ai, Inc. (NYSE:AI)

Deutsche Bank AG raised its position in shares of C3.ai, Inc. (NYSE:AI) by 42.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 167,531 shares of the company’s stock after purchasing an additional 49,690 shares during the period. Deutsche Bank AG’s holdings in C3.ai were worth $5,768,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in AI. Brown Lisle Cummings Inc. increased its stake in shares of C3.ai by 100.0% during the fourth 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 purchased a new stake in C3.ai in the fourth quarter worth about $29,000. Russell Investments Group Ltd. grew its holdings in C3.ai by 100.7% during the 4th quarter. Russell Investments Group Ltd. now owns 909 shares of the company’s stock worth $31,000 after acquiring an additional 456 shares in the last quarter. WealthTrak Capital Management LLC purchased a new position in C3.ai during the 4th quarter valued at about $33,000. Finally, CENTRAL TRUST Co bought a new stake in shares of C3.ai in the 4th quarter valued at about $34,000. 38.96% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other C3.ai news, CEO Thomas M. Siebel sold 272,079 shares of the business’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $23.99, for a total transaction of $6,527,175.21. Following the sale, the chief executive officer now owns 4,402,564 shares in the company, valued at approximately $105,617,510.36. The trade was a 5.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas M. Siebel sold 13,567 shares of the stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $19.47, for a total value of $264,149.49. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,523,332 shares of company stock valued at $33,894,663. Insiders own 33.54% of the company’s stock.

C3.ai Price Performance

Shares of NYSE:AI opened at $24.17 on Monday. The business’s 50-day moving average is $21.57 and its 200 day moving average is $28.53. C3.ai, Inc. has a 1 year low of $17.03 and a 1 year high of $45.08. The firm has a market capitalization of $3.21 billion, a P/E ratio of -10.93 and a beta of 1.99.

C3.ai (NYSE:AI) last issued 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). The business had revenue of $98.78 million for the quarter, compared to analysts’ expectations of $98.12 million. C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. On average, analysts expect that C3.ai, Inc. will post -2.44 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on AI shares. DA Davidson dropped their price objective on shares of C3.ai from $25.00 to $18.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Canaccord Genuity Group lowered their target price on C3.ai from $40.00 to $30.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Morgan Stanley cut their price target on C3.ai from $30.00 to $20.00 and set an “underweight” rating on the stock in a report on Wednesday, April 16th. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research report on Thursday, February 27th. Finally, KeyCorp dropped their price objective on C3.ai from $21.00 to $17.00 and set an “underweight” rating on the stock in a research report on Thursday, April 17th. Five analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $29.58.

C3.ai Company 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.