Hsbc Holdings PLC boosted its position in shares of C3.ai, Inc. (NYSE:AI – Free Report) by 200.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 109,875 shares of the company’s stock after acquiring an additional 73,276 shares during the period. Hsbc Holdings PLC’s holdings in C3.ai were worth $1,482,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of AI. AQR Capital Management LLC grew its holdings in shares of C3.ai by 267.9% during the first quarter. AQR Capital Management LLC now owns 181,354 shares of the company’s stock worth $3,788,000 after buying an additional 132,056 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of C3.ai by 48.7% in the first quarter. NewEdge Advisors LLC now owns 2,442 shares of the company’s stock worth $51,000 after purchasing an additional 800 shares in the last quarter. Woodline Partners LP bought a new stake in shares of C3.ai in the first quarter worth $346,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in C3.ai by 4.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 242,784 shares of the company’s stock worth $5,111,000 after purchasing an additional 10,675 shares during the last quarter. Finally, Focus Partners Wealth grew its position in C3.ai by 2.6% in the first quarter. Focus Partners Wealth now owns 59,004 shares of the company’s stock valued at $1,242,000 after purchasing an additional 1,503 shares in the last quarter. Institutional investors and hedge funds own 38.96% of the company’s stock.
C3.ai Trading Down 0.6%
Shares of AI traded down $0.06 during midday trading on Friday, reaching $8.96. The stock had a trading volume of 5,604,642 shares, compared to its average volume of 5,433,286. The firm has a 50 day simple moving average of $9.71 and a 200-day simple moving average of $10.31. C3.ai, Inc. has a one year low of $7.68 and a one year high of $30.11. The firm has a market cap of $1.39 billion, a PE ratio of -2.68 and a beta of 2.06.
Analyst Ratings Changes
Several equities research analysts have issued reports on the stock. KeyCorp reiterated an “underweight” rating on shares of C3.ai in a research note on Thursday, June 4th. DA Davidson restated an “underperform” rating and set a $7.00 price objective on shares of C3.ai in a research note on Thursday, June 4th. Morgan Stanley lifted their target price on C3.ai from $6.00 to $7.00 and gave the company an “underweight” rating in a research report on Thursday, June 4th. Weiss Ratings lowered C3.ai from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 16th. Finally, Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and six have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $10.67.
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Insider Transactions at C3.ai
In other news, CEO Stephen Bradley Ehikian sold 50,542 shares of C3.ai stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $9.45, for a total transaction of $477,621.90. Following the completion of the transaction, the chief executive officer directly owned 651,130 shares in the company, valued at approximately $6,153,178.50. The trade was a 7.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Thomas M. Siebel sold 472,005 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $11.11, for a total value of $5,243,975.55. Following the completion of the sale, the chief executive officer owned 722,362 shares in the company, valued at approximately $8,025,441.82. This trade represents a 39.52% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 1,646,611 shares of company stock worth $15,534,492. 26.50% of the stock is owned by company insiders.
About C3.ai
C3.ai, Inc is a leading enterprise software provider focused on delivering scalable artificial intelligence (AI) and Internet of Things (IoT) solutions to large organizations. The company’s core offering, the C3 AI Suite, is a comprehensive, model-driven platform that unifies data ingestion, model development, and application deployment. Through its suite of tools, C3.ai enables customers to accelerate digital transformation initiatives by applying advanced machine learning, predictive analytics, and AI-driven insights across a broad range of business functions.
The C3 AI Suite provides a low-code environment for data scientists and application developers to rapidly design, test, and deploy enterprise-scale AI applications.
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