Themes Management Co LLC Makes New Investment in C3.ai, Inc. $AI

Themes Management Co LLC purchased a new position in C3.ai, Inc. (NYSE:AI) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 67,223 shares of the company’s stock, valued at approximately $906,000.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in C3.ai by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 14,469,953 shares of the company’s stock worth $195,055,000 after acquiring an additional 108,011 shares during the last quarter. State Street Corp grew its holdings in C3.ai by 4.3% in the 2nd quarter. State Street Corp now owns 2,826,249 shares of the company’s stock worth $69,441,000 after acquiring an additional 116,611 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in C3.ai by 9.6% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,425,976 shares of the company’s stock worth $42,066,000 after acquiring an additional 211,786 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in C3.ai by 77.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,804,188 shares of the company’s stock worth $31,284,000 after acquiring an additional 785,508 shares during the last quarter. Finally, Two Sigma Investments LP bought a new stake in C3.ai in the 3rd quarter worth $13,379,000. Institutional investors own 38.96% of the company’s stock.

Insider Activity

In other news, CFO Hitesh Lath sold 15,248 shares of C3.ai stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $8.98, for a total transaction of $136,927.04. Following the sale, the chief financial officer owned 238,308 shares of the company’s stock, valued at approximately $2,140,005.84. The trade was a 6.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Stephen Bradley Ehikian sold 52,194 shares of C3.ai stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $8.22, for a total transaction of $429,034.68. Following the sale, the chief executive officer directly owned 721,485 shares in the company, valued at $5,930,606.70. The trade was a 6.75% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 1,592,689 shares of company stock valued at $13,739,172. Corporate insiders own 26.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of C3.ai from $10.00 to $7.00 and set an “underweight” rating on the stock in a report on Thursday, February 26th. Wedbush reissued an “outperform” rating and issued a $15.00 price target on shares of C3.ai in a report on Wednesday, May 13th. BMO Capital Markets set a $7.00 target price on shares of C3.ai in a research note on Thursday, February 26th. Canaccord Genuity Group lifted their target price on shares of C3.ai from $7.00 to $8.00 and gave the company a “hold” rating in a research note on Wednesday, May 13th. Finally, Citizens Jmp lowered shares of C3.ai from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, seven have given a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $15.93.

C3.ai Trading Up 0.1%

Shares of AI opened at $9.30 on Tuesday. The firm’s 50-day moving average price is $8.84 and its 200-day moving average price is $11.40. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of -2.95 and a beta of 2.00. C3.ai, Inc. has a 1-year low of $7.68 and a 1-year high of $30.24.

C3.ai (NYSE:AI) last announced its earnings results on Wednesday, February 25th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.11). The company had revenue of $53.26 million for the quarter, compared to the consensus estimate of $75.91 million. C3.ai had a negative net margin of 141.35% and a negative return on equity of 55.40%. The company’s revenue for the quarter was down 46.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.12) EPS. On average, research analysts forecast that C3.ai, Inc. will post -3.22 EPS for the current fiscal year.

C3.ai Profile

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.