Mercer Global Advisors Inc. ADV Takes $587,000 Position in C3.ai, Inc. (NYSE:AI)

Mercer Global Advisors Inc. ADV acquired a new position in shares of C3.ai, Inc. (NYSE:AI - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 17,060 shares of the company's stock, valued at approximately $587,000.

A number of other large investors have also added to or reduced their stakes in AI. Brown Lisle Cummings Inc. boosted its position in shares of C3.ai by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company's stock valued at $28,000 after acquiring an additional 400 shares during the period. R Squared Ltd bought a new stake in C3.ai during the fourth quarter valued at approximately $29,000. Russell Investments Group Ltd. lifted its position in C3.ai by 100.7% during the fourth quarter. Russell Investments Group Ltd. now owns 909 shares of the company's stock valued at $31,000 after purchasing an additional 456 shares during the last quarter. WealthTrak Capital Management LLC bought a new stake in C3.ai during the fourth quarter valued at approximately $33,000. Finally, CENTRAL TRUST Co bought a new stake in C3.ai during the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 38.96% of the company's stock.

Insider Activity at C3.ai

In other news, CEO Thomas M. Siebel sold 356,418 shares of the business's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $20.19, for a total transaction of $7,196,079.42. Following the sale, the chief executive officer now owns 241,768 shares in the company, valued at approximately $4,881,295.92. The trade was a 59.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Merel Witteveen sold 1,133 shares of the business's 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 sale, the vice president now owns 7,287 shares in the company, valued at $162,135.75. The trade was a 13.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,523,332 shares of company stock worth $33,894,663 over the last three months. 33.54% of the stock is owned by corporate insiders.

C3.ai Price Performance

Shares of NYSE AI traded up $0.76 during midday trading on Friday, reaching $24.17. 3,521,898 shares of the stock traded hands, compared to its average volume of 5,128,984. The stock has a market capitalization of $3.21 billion, a PE ratio of -10.93 and a beta of 1.99. C3.ai, Inc. has a one year low of $17.03 and a one year high of $45.08. The company's 50 day moving average is $21.57 and its 200 day moving average is $28.53.

C3.ai (NYSE:AI - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $98.78 million during the quarter, compared to the consensus estimate of $98.12 million. C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. As a group, equities analysts forecast that C3.ai, Inc. will post -2.44 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on AI shares. DA Davidson decreased their price target on shares of C3.ai from $25.00 to $18.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Piper Sandler reduced their price objective on shares of C3.ai from $42.00 to $28.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. Canaccord Genuity Group dropped their target price on shares of C3.ai from $40.00 to $30.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. Needham & Company LLC reiterated a "hold" rating on shares of C3.ai in a research note on Thursday, February 27th. Finally, KeyCorp dropped their price target on shares of C3.ai from $21.00 to $17.00 and set an "underweight" rating on the stock in a research note on Thursday, April 17th. Five investment analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, C3.ai has a consensus rating of "Hold" and a consensus price target of $29.58.

About C3.ai

C3.ai, Inc operates as an enterprise artificial intelligence (AI) software company in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. 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.