SBI Securities Co. Ltd. Makes New $4 Million Investment in C3.ai, Inc. (NYSE:AI)

SBI Securities Co. Ltd. purchased a new position in C3.ai, Inc. (NYSE:AI) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 116,075 shares of the company’s stock, valued at approximately $3,996,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC raised its position in shares of C3.ai by 8.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company’s stock valued at $53,728,000 after purchasing an additional 178,870 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of C3.ai by 12.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock valued at $20,460,000 after purchasing an additional 92,280 shares in the last quarter. Hodges Capital Management Inc. acquired a new position in shares of C3.ai in the 3rd quarter valued at approximately $1,955,000. PDT Partners LLC acquired a new position in shares of C3.ai in the 3rd quarter valued at approximately $1,624,000. Finally, Strategic Financial Concepts LLC acquired a new position in shares of C3.ai in the 4th quarter valued at approximately $2,015,000. Hedge funds and other institutional investors own 38.96% of the company’s stock.

Insider Transactions at C3.ai

In other news, CEO Thomas M. Siebel sold 552,422 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now owns 1,336,968 shares of the company’s stock, valued at approximately $44,173,422.72. This represents a 29.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Hitesh Lath sold 11,339 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $42.00, for a total value of $476,238.00. Following the transaction, the chief financial officer now directly owns 851 shares of the company’s stock, valued at $35,742. This represents a 93.02 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,643,311 shares of company stock valued at $59,736,620. 33.54% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research report on Thursday. Northland Securities upped their price target on C3.ai from $35.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Morgan Stanley dropped their price target on C3.ai from $32.00 to $30.00 and set an “underweight” rating on the stock in a research report on Thursday. KeyCorp dropped their price target on C3.ai from $29.00 to $21.00 and set an “underweight” rating on the stock in a research report on Thursday. Finally, DA Davidson dropped their price target on C3.ai from $40.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday. 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 assigned a strong buy rating to the company. According to MarketBeat.com, C3.ai currently has a consensus rating of “Hold” and a consensus target price of $31.33.

C3.ai Price Performance

Shares of NYSE AI opened at $23.44 on Friday. C3.ai, Inc. has a 1-year low of $18.85 and a 1-year high of $45.08. The business’s fifty day moving average price is $32.39 and its two-hundred day moving average price is $29.57. The firm has a market capitalization of $3.03 billion, a PE ratio of -10.61 and a beta of 1.98.

C3.ai (NYSE:AI) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.62) earnings per share (EPS) 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 business had revenue of $98.78 million during the quarter, compared to the consensus estimate of $98.12 million. Equities research analysts expect that C3.ai, Inc. will post -2.44 earnings per share for the current fiscal 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.