Alliancebernstein L.P. Raises Holdings in C3.ai, Inc. (NYSE:AI)

Alliancebernstein L.P. raised its holdings in shares of C3.ai, Inc. (NYSE:AI - Free Report) by 38.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 120,197 shares of the company's stock after acquiring an additional 33,186 shares during the quarter. Alliancebernstein L.P. owned approximately 0.09% of C3.ai worth $4,138,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Brown Lisle Cummings Inc. increased its stake in 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 purchasing an additional 400 shares during the period. R Squared Ltd acquired a new position in C3.ai in the 4th quarter valued at about $29,000. WealthTrak Capital Management LLC purchased a new stake in C3.ai during the 4th quarter valued at approximately $33,000. CENTRAL TRUST Co acquired a new stake in C3.ai during the 4th quarter worth approximately $34,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of C3.ai in the fourth quarter valued at approximately $36,000. 38.96% of the stock is owned by institutional investors and hedge funds.

C3.ai Price Performance

AI traded up $0.03 during midday trading on Friday, reaching $19.38. 2,348,902 shares of the company's stock were exchanged, compared to its average volume of 5,204,859. The business's 50-day moving average price is $23.20 and its 200 day moving average price is $28.90. The stock has a market capitalization of $2.57 billion, a PE ratio of -8.77 and a beta of 2.01. C3.ai, Inc. has a 1-year low of $17.03 and a 1-year high of $45.08.

C3.ai (NYSE:AI - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.37). The company had revenue of $98.78 million for the quarter, compared to analyst estimates of $98.12 million. C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. As a group, analysts expect that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Richard C. Levin sold 12,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $29.84, for a total transaction of $358,080.00. Following the transaction, the director now directly owns 161,664 shares in the company, valued at approximately $4,824,053.76. This represents a 6.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas M. Siebel sold 552,422 shares of the firm's 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 sale, the chief executive officer now directly owns 1,336,968 shares in the company, valued at approximately $44,173,422.72. The trade was a 29.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,446,967 shares of company stock worth $37,175,326. 33.54% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Canaccord Genuity Group lowered their price objective on shares of C3.ai from $40.00 to $30.00 and set a "hold" rating on the stock in a research report on Thursday, February 27th. 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. DA Davidson cut their price target on shares of C3.ai from $25.00 to $18.00 and set a "neutral" rating for the company in a report on Monday. Morgan Stanley dropped their target price on C3.ai from $30.00 to $20.00 and set an "underweight" rating on the stock in a research report on Wednesday. Finally, Needham & Company LLC reissued a "hold" rating on shares of C3.ai in a report on Thursday, February 27th. Five 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, the company has an average rating of "Hold" and an average price target of $29.58.

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.