Mitsubishi UFJ Asset Management Co. Ltd. Has $1.79 Million Stake in C3.ai, Inc. $AI

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of C3.ai, Inc. (NYSE:AI) by 171.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 129,797 shares of the company’s stock after purchasing an additional 82,065 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in C3.ai were worth $1,785,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in AI. Dimensional Fund Advisors LP boosted its holdings in C3.ai by 77.1% during the third quarter. Dimensional Fund Advisors LP now owns 1,804,188 shares of the company’s stock worth $31,284,000 after purchasing an additional 785,508 shares during the last quarter. Two Sigma Investments LP acquired a new stake in C3.ai in the third quarter valued at $13,379,000. Quantbot Technologies LP lifted its stake in C3.ai by 2,831.4% in the third quarter. Quantbot Technologies LP now owns 554,472 shares of the company’s stock valued at $9,615,000 after acquiring an additional 535,557 shares during the last quarter. Bank of America Corp DE lifted its stake in C3.ai by 358.9% in the third quarter. Bank of America Corp DE now owns 606,947 shares of the company’s stock valued at $10,524,000 after acquiring an additional 474,698 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in C3.ai by 193.5% in the third quarter. Marshall Wace LLP now owns 522,194 shares of the company’s stock valued at $9,055,000 after acquiring an additional 344,264 shares during the last quarter. Institutional investors and hedge funds own 38.96% of the company’s stock.

C3.ai Stock Performance

NYSE AI opened at $9.49 on Tuesday. The firm has a 50-day moving average of $8.84 and a 200-day moving average of $12.00. The stock has a market cap of $1.38 billion, a PE ratio of -3.01 and a beta of 2.00. C3.ai, Inc. has a 52-week low of $7.68 and a 52-week high of $30.24.

C3.ai (NYSE:AI) last posted its earnings results on Wednesday, February 25th. The company reported ($0.40) earnings per share (EPS) 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 analyst estimates of $75.91 million. C3.ai had a negative return on equity of 55.40% and a negative net margin of 141.35%.The business’s quarterly revenue was down 46.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.12) EPS. As a group, analysts predict that C3.ai, Inc. will post -3.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on AI. UBS Group reiterated a “reduce” rating on shares of C3.ai in a research note on Thursday, February 26th. Wolfe Research reiterated an “underperform” rating and issued a $6.00 price target on shares of C3.ai in a research note on Thursday, February 26th. Canaccord Genuity Group cut their price target on shares of C3.ai from $16.00 to $7.00 and set a “hold” rating for the company in a research note on Thursday, February 26th. Weiss Ratings cut shares of C3.ai from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. Finally, DA Davidson cut their price target on shares of C3.ai from $13.00 to $7.00 and set an “underperform” rating for the company in a research note on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, seven have assigned a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $15.87.

Insider Activity at C3.ai

In other news, CEO Stephen Bradley Ehikian sold 52,194 shares of the firm’s 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 completion of the sale, the chief executive officer owned 721,485 shares in the company, valued at approximately $5,930,606.70. This trade represents a 6.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Hitesh Lath sold 15,248 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was 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. This represents a 6.01% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 1,111,051 shares of company stock worth $9,547,130. 26.50% of the stock is owned by corporate insiders.

C3.ai Company 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.