C3.ai, Inc. $AI Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC boosted its holdings in C3.ai, Inc. (NYSE:AI) by 200.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,875 shares of the company’s stock after purchasing an additional 73,276 shares during the quarter. Hsbc Holdings PLC’s holdings in C3.ai were worth $1,482,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of AI. Larson Financial Group LLC grew its position in C3.ai by 683.6% during the 3rd quarter. Larson Financial Group LLC now owns 1,481 shares of the company’s stock worth $26,000 after purchasing an additional 1,292 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of C3.ai by 66.1% in the fourth quarter. Farther Finance Advisors LLC now owns 2,141 shares of the company’s stock valued at $29,000 after buying an additional 852 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of C3.ai by 76.4% in the third quarter. Parallel Advisors LLC now owns 1,849 shares of the company’s stock valued at $32,000 after buying an additional 801 shares during the last quarter. Comerica Bank boosted its stake in shares of C3.ai by 839.1% during the fourth quarter. Comerica Bank now owns 2,423 shares of the company’s stock worth $33,000 after buying an additional 2,165 shares during the period. Finally, Olistico Wealth LLC purchased a new position in shares of C3.ai during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 38.96% of the company’s stock.

Insider Buying and Selling at C3.ai

In other C3.ai news, CFO Hitesh Lath sold 34,210 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $10.95, for a total value of $374,599.50. Following the completion of the sale, the chief financial officer owned 233,106 shares of the company’s stock, valued at approximately $2,552,510.70. This trade represents a 12.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $11.11, for a total transaction of $5,243,975.55. Following the sale, the chief executive officer owned 722,362 shares in the company, valued at $8,025,441.82. The trade was a 39.52% decrease in their ownership of the stock. 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. Insiders sold 1,547,450 shares of company stock valued at $14,630,481 in the last quarter. 26.50% of the stock is currently owned by company insiders.

C3.ai Trading Up 2.8%

NYSE AI opened at $9.12 on Wednesday. The business’s 50 day moving average is $9.69 and its two-hundred day moving average is $10.60. C3.ai, Inc. has a 12-month low of $7.68 and a 12-month high of $30.11. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of -2.73 and a beta of 2.04.

C3.ai (NYSE:AI) last posted its quarterly earnings results on Wednesday, June 3rd. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.05. C3.ai had a negative return on equity of 62.44% and a negative net margin of 187.95%.The business had revenue of $51.60 million during the quarter, compared to analysts’ expectations of $51.60 million. During the same period last year, the firm earned ($0.16) EPS. The company’s quarterly revenue was down 52.5% compared to the same quarter last year. Equities analysts forecast that C3.ai, Inc. will post -2.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AI has been the topic of several recent research reports. Wedbush restated an “outperform” rating and issued a $15.00 price target on shares of C3.ai in a research report on Thursday, June 4th. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research note on Thursday, June 4th. DA Davidson reissued an “underperform” rating and issued a $7.00 target price on shares of C3.ai in a report on Thursday, June 4th. Morgan Stanley boosted their target price on C3.ai from $6.00 to $7.00 and gave the company an “underweight” rating in a report on Thursday, June 4th. Finally, Citizens Jmp restated a “market perform” rating on shares of C3.ai in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, six have assigned a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $12.92.

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.