The Vanguard Group, Inc. recently announced the acquisition of new stake in C3.ai Inc (NYSE:AI). The institutional investor has increased its shareholding in the Technology company by 6.76% to 10.28 million shares with purchase of 0.65 million shares. This fresh investment now brings its stake to 8.83% valued currently at $295.12 million. In addition, BlackRock Fund Advisors raised its holdings by 0.23 million to 4.63 million shares. And Morgan Stanley & Co. LLC has lifted its position by 379.78% or 2.63 million shares – to 3.33 million shares.
Currently, there are 110.44M common shares owned by the public and among those 102.78M shares have been available to trade.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Insiders at the company have transacted a total of 66 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 24 of these insider trades were purchases, accounting for 1,611,054 shares. Insider sales of the common stock occurred on 42 occasions, with total insider shares sold totaling 1,139,222 shares.
The top 3 mutual fund holders in C3.ai Inc are Vanguard Total Stock Market ETF, Vanguard Small Cap Index Fund, and iShares Russell 2000 ETF. Vanguard Total Stock Market ETF owns 3.24 million shares of the company’s stock, all valued at over $93.03 million. The company bought an additional 2805.0 shares recently to bring their total holdings to about 2.79% of the shares outstanding. Vanguard Small Cap Index Fund sold 38894.0 shares to see its total holdings shrink to 2.63 million shares valued at over $75.48 million and representing 2.26% of the shares outstanding. iShares Russell 2000 ETF sold 5796.0 shares to bring its total holdings to over 2.19 million shares at a value of $62.81 million. iShares Russell 2000 ETF now owns shares totaling to 1.88% of the shares outstanding.
However, the script later moved the day high at 27.02, up 6.57%. The company’s stock has a 5-day price change of 0.88% and 4.80% over the past three months. AI shares are trading -7.91% year to date (YTD), with the 12-month market performance up to 101.83% higher. It has a 12-month low price of $13.17 and touched a high of $48.87 over the same period. AI has an average intraday trading volume of 8.94 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -4.74%, -7.20%, and -10.34% respectively.
Institutional ownership of C3.ai Inc (NYSE: AI) shares accounts for 37.96% of the company’s 110.44M shares outstanding. Mutual fund holders own 20.64%, while other institutional holders and individual stakeholders account for 27.06% and 19.09% respectively.
It has a market capitalization of $3.17B and a beta (3y monthly) value of 1.56. The earnings-per-share (ttm) stands at -$2.29. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.13% over the week and 5.16% over the month.
Analysts forecast that C3.ai Inc (AI) will achieve an EPS of $Aimei Health Technology Co., Lt for the current quarter, $10.15 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $Aimei Health Technology Co., Lt while analysts give the company a high EPS estimate of $C3.ai, Inc.. Comparatively, EPS for the current quarter was $United Airlines Holdings, Inc. a year ago. Earnings per share for the fiscal year are expected to decrease by -73.54%, and 52.91% over the next financial year.
Looking at the support for the AI, a number of firms have released research notes about the stock. Oppenheimer stated their Outperform rating for the stock in a research note on November 21, 2023, with the firm’s price target at $40.
