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

Vontobel Holding Ltd. grew its stake in shares of C3.ai, Inc. (NYSE:AI) by 110.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 85,774 shares of the company’s stock after buying an additional 45,075 shares during the quarter. Vontobel Holding Ltd. owned 0.05% of C3.ai worth $943,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Sequoia Financial Advisors LLC bought a new stake in shares of C3.ai in the 2nd quarter valued at about $106,000. Engineers Gate Manager LP bought a new position in C3.ai during the 2nd quarter worth approximately $2,855,000. Allworth Financial LP grew its position in C3.ai by 13.6% during the 2nd quarter. Allworth Financial LP now owns 26,660 shares of the company’s stock worth $242,000 after acquiring an additional 3,185 shares during the last quarter. Arizona State Retirement System grew its position in C3.ai by 3.7% during the 2nd quarter. Arizona State Retirement System now owns 37,168 shares of the company’s stock worth $338,000 after acquiring an additional 1,310 shares during the last quarter. Finally, Nykredit A S bought a new position in C3.ai during the 2nd quarter worth approximately $84,000. Hedge funds and other institutional investors own 38.96% of the company’s stock.

C3.ai Stock Performance

Shares of NYSE AI opened at $11.31 on Tuesday. C3.ai, Inc. has a 12 month low of $7.68 and a 12 month high of $18.79. The firm has a fifty day simple moving average of $10.70 and a two-hundred day simple moving average of $9.85.

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

Insider Transactions at C3.ai

In other C3.ai news, CEO Thomas Siebel sold 453,314 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer directly owned 722,362 shares in the company, valued at $7,592,024.62. This trade represents a 38.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Hitesh Lath sold 21,077 shares of C3.ai 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 sale, the chief financial officer directly owned 371,036 shares in the company, valued at approximately $3,888,457.28. The trade was 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 three months, insiders sold 1,573,172 shares of company stock valued at $17,117,621. 19.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

About C3.ai

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.