C3.ai, Inc. $AI Stock Holdings Increased by Vontobel Holding Ltd.

Vontobel Holding Ltd. grew its holdings in shares of C3.ai, Inc. (NYSE:AI) by 110.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 85,774 shares of the company’s stock after buying an additional 45,075 shares during the period. Vontobel Holding Ltd.’s holdings in C3.ai were worth $943,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of America Corp DE lifted its position in C3.ai by 55.1% during the 1st quarter. Bank of America Corp DE now owns 3,282,183 shares of the company’s stock valued at $27,636,000 after acquiring an additional 1,166,302 shares during the period. First Trust Advisors LP grew its holdings in C3.ai by 67.3% in the first quarter. First Trust Advisors LP now owns 1,215,341 shares of the company’s stock worth $10,233,000 after purchasing an additional 488,710 shares during the period. Bank of New York Mellon Corp increased its stake in shares of C3.ai by 0.8% during the first quarter. Bank of New York Mellon Corp now owns 690,694 shares of the company’s stock valued at $5,816,000 after purchasing an additional 5,631 shares in the last quarter. Edgestream Partners L.P. increased its stake in shares of C3.ai by 247.5% during the first quarter. Edgestream Partners L.P. now owns 658,573 shares of the company’s stock valued at $5,545,000 after purchasing an additional 469,057 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of C3.ai by 6.0% during the first quarter. SG Americas Securities LLC now owns 407,598 shares of the company’s stock valued at $3,432,000 after purchasing an additional 23,112 shares in the last quarter. 38.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Canaccord Genuity Group reiterated a “hold” rating and set a $10.00 target price on shares of C3.ai in a report on Thursday, September 3rd. DA Davidson restated an “underperform” rating and issued a $7.00 price target on shares of C3.ai in a research note on Tuesday, September 1st. Northland Securities set a $16.00 price objective on C3.ai and gave the company an “outperform” rating in a research report on Monday, October 12th. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research note on Thursday, September 3rd. Finally, Citizens Jmp reissued a “market perform” rating on shares of C3.ai in a report on Tuesday, September 29th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and seven have issued a Sell rating to the company’s stock. According to MarketBeat, C3.ai has an average rating of “Reduce” and a consensus price target of $9.62.

C3.ai Stock Down 0.1%

Shares of C3.ai stock opened at $11.31 on Tuesday. C3.ai, Inc. has a 52-week low of $7.68 and a 52-week high of $18.79. The company has a 50-day simple moving average of $10.70 and a two-hundred day simple moving average of $9.85.

C3.ai (NYSE:AI) last issued its earnings results on Wednesday, September 2nd. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.06. C3.ai had a negative net margin of 192.10% and a negative return on equity of 61.25%. The firm had revenue of $52.38 million for the quarter, compared to the consensus estimate of $52.06 million. During the same quarter in the prior year, the firm posted ($0.37) earnings per share. The business’s revenue was down 25.4% on a year-over-year basis. As a group, analysts anticipate that C3.ai, Inc. will post -2.20 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Thomas Siebel sold 453,314 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $10.51, for a total value of $4,764,330.14. Following the completion of the transaction, the chief executive officer directly owned 722,362 shares in the company, valued at $7,592,024.62. The trade was a 38.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Hitesh Lath sold 21,077 shares of the company’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $10.48, for a total value of $220,886.96. Following the completion of the transaction, the chief financial officer directly owned 371,036 shares in the company, valued at $3,888,457.28. This trade represents a 5.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 1,573,172 shares of company stock valued at $17,117,621. 19.80% of the stock is owned by company insiders.

C3.ai Profile

C3.ai, Inc is an enterprise artificial intelligence software company that develops applications and tools designed to help organizations use AI and machine learning to analyze data, automate processes and support business decision-making. The company’s offerings are intended for large commercial enterprises, government agencies and other organizations managing complex operational and data environments.

Its product portfolio includes the C3 AI Platform, which provides capabilities for developing, deploying and operating AI applications, as well as prebuilt enterprise applications.