Price T Rowe Associates Inc. MD Has $2.73 Million Stock Holdings in C3.ai, Inc. (NYSE:AI)

Price T Rowe Associates Inc. MD grew its holdings in C3.ai, Inc. (NYSE:AI - Free Report) by 40.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 79,251 shares of the company's stock after acquiring an additional 22,881 shares during the period. Price T Rowe Associates Inc. MD owned about 0.06% of C3.ai worth $2,729,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brown Lisle Cummings Inc. increased its holdings in C3.ai by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company's stock worth $28,000 after acquiring an additional 400 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in C3.ai by 100.7% in the 4th quarter. Russell Investments Group Ltd. now owns 909 shares of the company's stock worth $31,000 after buying an additional 456 shares during the last quarter. Legal & General Group Plc lifted its position in shares of C3.ai by 0.4% in the fourth quarter. Legal & General Group Plc now owns 119,144 shares of the company's stock valued at $4,102,000 after acquiring an additional 517 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of C3.ai by 72.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,322 shares of the company's stock worth $46,000 after acquiring an additional 555 shares during the last quarter. Finally, Corient Private Wealth LLC increased its position in shares of C3.ai by 2.4% during the fourth quarter. Corient Private Wealth LLC now owns 23,371 shares of the company's stock worth $805,000 after purchasing an additional 555 shares in the last quarter. Institutional investors and hedge funds own 38.96% of the company's stock.

C3.ai Stock Down 0.5 %

C3.ai stock traded down $0.11 on Friday, hitting $23.36. The company's stock had a trading volume of 3,060,830 shares, compared to its average volume of 5,142,923. The company has a fifty day moving average price of $21.33 and a 200-day moving average price of $28.55. The firm has a market cap of $3.10 billion, a P/E ratio of -10.57 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.

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). C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. The company had revenue of $98.78 million during the quarter, compared to the consensus estimate of $98.12 million. Analysts anticipate that C3.ai, Inc. will post -2.44 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AI shares. Canaccord Genuity Group dropped their target price on shares of C3.ai from $40.00 to $30.00 and set a "hold" rating for the company in a report on Thursday, February 27th. Morgan Stanley cut their price objective on shares of C3.ai from $30.00 to $20.00 and set an "underweight" rating for the company in a report on Wednesday, April 16th. Piper Sandler reduced their price objective on C3.ai from $42.00 to $28.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. Needham & Company LLC restated a "hold" rating on shares of C3.ai in a report on Thursday, February 27th. Finally, KeyCorp cut their target price on C3.ai from $21.00 to $17.00 and set an "underweight" rating for the company in a research note on Thursday, April 17th. Five research analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $29.58.

Insider Activity at C3.ai

In related news, CEO Thomas M. Siebel sold 552,422 shares of C3.ai stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $33.04, for a total value of $18,252,022.88. Following the completion of the transaction, the chief executive officer now directly owns 1,336,968 shares of the company's stock, valued at $44,173,422.72. The trade was a 29.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Merel Witteveen sold 1,133 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $22.25, for a total value of $25,209.25. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,461,977 shares of company stock valued at $37,418,759 in the last ninety days. Insiders own 33.54% of the company's stock.

C3.ai Profile

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.