Hsbc Holdings PLC Has $1.48 Million Holdings in C3.ai, Inc. $AI

Hsbc Holdings PLC grew its stake in C3.ai, Inc. (NYSE:AI) by 200.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 109,875 shares of the company’s stock after acquiring an additional 73,276 shares during the period. Hsbc Holdings PLC owned 0.08% of C3.ai worth $1,482,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Rockefeller Capital Management L.P. raised its position in C3.ai by 11.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 50,771 shares of the company’s stock worth $684,000 after purchasing an additional 5,320 shares during the last quarter. Alpine Global Management LLC acquired a new stake in shares of C3.ai in the 4th quarter valued at $206,000. Virtu Financial LLC bought a new stake in shares of C3.ai during the fourth quarter worth $871,000. Invesco Ltd. lifted its stake in shares of C3.ai by 29.5% during the fourth quarter. Invesco Ltd. now owns 452,653 shares of the company’s stock valued at $6,102,000 after acquiring an additional 103,058 shares during the period. Finally, Axxcess Wealth Management LLC lifted its stake in shares of C3.ai by 12.5% during the fourth quarter. Axxcess Wealth Management LLC now owns 45,000 shares of the company’s stock valued at $607,000 after acquiring an additional 5,000 shares during the period. 38.96% of the stock is owned by institutional investors.

C3.ai Trading Down 0.6%

Shares of NYSE:AI traded down $0.06 during mid-day trading on Friday, reaching $8.96. The stock had a trading volume of 5,604,642 shares, compared to its average volume of 5,433,286. The firm has a market cap of $1.39 billion, a PE ratio of -2.68 and a beta of 2.06. The firm has a 50 day simple moving average of $9.71 and a two-hundred day simple moving average of $10.31. C3.ai, Inc. has a twelve month low of $7.68 and a twelve month high of $30.11.

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 the consensus estimate of ($0.38) by $0.05. The business had revenue of $51.60 million for the quarter, compared to analyst estimates of $51.60 million. C3.ai had a negative net margin of 187.95% and a negative return on equity of 62.44%. C3.ai’s quarterly revenue was down 52.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.16) EPS. On average, equities analysts anticipate that C3.ai, Inc. will post -2.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Canaccord Genuity Group lifted their price objective on C3.ai from $8.00 to $10.00 and gave the stock a “hold” rating in a research report on Thursday, June 4th. KeyCorp reaffirmed an “underweight” rating on shares of C3.ai in a research note on Thursday, June 4th. DA Davidson reiterated an “underperform” rating and set a $7.00 price target on shares of C3.ai in a research report on Thursday, June 4th. Weiss Ratings downgraded shares of C3.ai from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 16th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $15.00 price objective on shares of C3.ai in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $10.67.

Insider Activity at C3.ai

In other C3.ai news, CEO Stephen Bradley Ehikian sold 50,542 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $9.45, for a total value of $477,621.90. Following the completion of the transaction, the chief executive officer directly owned 651,130 shares of the company’s stock, valued at approximately $6,153,178.50. The trade was a 7.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Hitesh Lath sold 48,619 shares of the stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $8.77, for a total value of $426,388.63. Following the completion of the sale, the chief financial officer owned 383,106 shares of the company’s stock, valued at $3,359,839.62. This trade represents a 11.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 a total of 1,646,611 shares of company stock worth $15,534,492 in the last quarter. Corporate insiders own 26.50% of the company’s stock.

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.