C3.ai, Inc. (NYSE:AI) Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.
Mitsubishi UFJ Asset Management Co. Ltd. significantly increased its stake in C3.ai, Inc. during the 4th quarter. The fund now owns 19,424 shares of the company's stock. This move reflects a 453.1% boost in their holdings. Mitsubishi UFJ Asset Management Co. Ltd.'s stake in C3.ai is now valued at $714,000.
Investment in C3.ai by Institutional Investors
Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in C3.ai, Inc. (NYSE:AI) by 453.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 19,424 shares of the company’s stock after purchasing an additional 15,912 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in C3.ai were worth $714,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brown Lisle Cummings Inc. lifted its stake in shares of C3.ai by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock worth $28,000 after acquiring an additional 400 shares during the period. R Squared Ltd acquired a new stake in C3.ai in the fourth quarter valued at $29,000. CENTRAL TRUST Co purchased a new stake in shares of C3.ai during the 4th quarter worth $34,000. Harvest Fund Management Co. Ltd acquired a new position in shares of C3.ai during the 4th quarter worth $36,000. Finally, Global Retirement Partners LLC increased its holdings in shares of C3.ai by 1,004.0% in the 4th quarter. Global Retirement Partners LLC now owns 1,115 shares of the company’s stock valued at $38,000 after purchasing an additional 1,014 shares in the last quarter. 38.96% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at C3.ai
In related news, VP Merel Witteveen sold 1,133 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $22.25, for a total value of $25,209.25. Following the completion of the transaction, the vice president now owns 7,287 shares of the company’s stock, valued at approximately $162,135.75. This represents a 13.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC.
Also, CEO Thomas M. Siebel sold 409,831 shares of C3.ai stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $30.97, for a total value of $12,692,466.07. Following the sale, the chief executive officer now owns 1,756,390 shares in the company, valued at $54,395,398.30. This represents an 18.92% decrease in their ownership of the stock. Insiders sold 1,486,813 shares of company stock valued at $42,407,563 over the last 90 days. 33.54% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Check Out Our Latest Research Report on AI C3.ai Trading Up 2.8% NYSE:AI opened at $22.03 on Thursday. C3.ai, Inc. has a twelve-month low of $18.85 and a twelve-month high of $45.08. The firm has a market capitalization of $2.92 billion, a price-to-earnings ratio of -9.97, and a beta of 2.03. The firm’s fifty-day simple moving average is $26.88, and its 200-day simple moving average is $29.35.
C3.ai last issued its earnings results on Wednesday, February 26th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.37). The company had revenue of $98.78 million during the quarter, compared to analysts’ expectations of $98.12 million. C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. On average, analysts predict that C3.ai, Inc. will post -2.44 earnings per share for the current year.
About C3.ai
C3.ai, Inc. operates as an enterprise artificial intelligence (AI) software company in various regions globally. The company provides C3 AI platform, an application development and runtime environment that enables customers to design, develop, and deploy enterprise AI applications; C3 AI Ex Machina for analysis-ready data; C3 AI CRM, an industry-specific customer relationship management solution; and C3 Generative AI Product Suite that enables to locate, retrieve, and present information.
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