Hsbc Holdings PLC Grows Holdings in C3.ai, Inc. $AI

Hsbc Holdings PLC increased its stake in shares of C3.ai, Inc. (NYSE:AI) by 200.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 109,875 shares of the company’s stock after purchasing an additional 73,276 shares during the period. Hsbc Holdings PLC owned approximately 0.08% of C3.ai worth $1,482,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its position in C3.ai by 267.9% in the first quarter. AQR Capital Management LLC now owns 181,354 shares of the company’s stock valued at $3,788,000 after purchasing an additional 132,056 shares during the period. NewEdge Advisors LLC raised its holdings in shares of C3.ai by 48.7% in the 1st quarter. NewEdge Advisors LLC now owns 2,442 shares of the company’s stock valued at $51,000 after buying an additional 800 shares during the period. Woodline Partners LP purchased a new stake in shares of C3.ai in the 1st quarter valued at $346,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in C3.ai by 4.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 242,784 shares of the company’s stock worth $5,111,000 after acquiring an additional 10,675 shares in the last quarter. Finally, Focus Partners Wealth lifted its stake in C3.ai by 2.6% during the 1st quarter. Focus Partners Wealth now owns 59,004 shares of the company’s stock worth $1,242,000 after acquiring an additional 1,503 shares in the last quarter. Institutional investors and hedge funds own 38.96% of the company’s stock.

C3.ai Stock Performance

AI opened at $9.12 on Wednesday. The company has a market cap of $1.32 billion, a P/E ratio of -2.73 and a beta of 2.04. C3.ai, Inc. has a one year low of $7.68 and a one year high of $30.11. The business’s 50-day simple moving average is $9.69 and its 200-day simple moving average is $10.60.

C3.ai (NYSE:AI) last released its quarterly earnings data on Wednesday, June 3rd. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.05. The company had revenue of $51.60 million for the quarter, compared to analysts’ expectations of $51.60 million. C3.ai had a negative net margin of 187.95% and a negative return on equity of 62.44%. The firm’s revenue for the quarter was down 52.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.16) earnings per share. As a group, analysts predict that C3.ai, Inc. will post -2.28 earnings per share for the current fiscal year.

Insider Buying and Selling at C3.ai

In related news, CFO Hitesh Lath sold 34,210 shares of the business’s stock in a transaction on Tuesday, June 16th. The shares were 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 directly owned 233,106 shares of the company’s stock, valued at $2,552,510.70. The trade was a 12.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $11.11, for a total transaction of $5,243,975.55. Following the completion of the transaction, the chief executive officer owned 722,362 shares of the company’s stock, valued at $8,025,441.82. This represents a 39.52% decrease in their position. 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 have sold a total of 1,547,450 shares of company stock worth $14,630,481 over the last quarter. 26.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Weiss Ratings downgraded C3.ai from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 16th. Citizens Jmp reissued a “market perform” rating on shares of C3.ai in a research report on Thursday, June 4th. Canaccord Genuity Group raised their price objective on shares of C3.ai from $8.00 to $10.00 and gave the company a “hold” rating in a research note on Thursday, June 4th. Morgan Stanley lifted their price objective on shares of C3.ai from $6.00 to $7.00 and gave the company an “underweight” rating in a report on Thursday, June 4th. Finally, Wedbush reaffirmed an “outperform” rating and set a $15.00 target price 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 given a Buy rating, six have issued a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat, C3.ai currently has a consensus rating of “Reduce” and a consensus target price of $12.92.

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.