Rockefeller Capital Management L.P. Raises Stock Holdings in C3.ai, Inc. (NYSE:AI)

Rockefeller Capital Management L.P. boosted its stake in shares of C3.ai, Inc. (NYSE:AI - Free Report) by 712.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 201,823 shares of the company's stock after buying an additional 176,982 shares during the period. Rockefeller Capital Management L.P. owned approximately 0.16% of C3.ai worth $6,949,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. FMR LLC grew its holdings in shares of C3.ai by 149.2% in the third quarter. FMR LLC now owns 13,994 shares of the company's stock worth $339,000 after acquiring an additional 8,378 shares during the period. State Street Corp boosted its position in C3.ai by 1.8% in the third quarter. State Street Corp now owns 2,121,391 shares of the company's stock worth $51,401,000 after purchasing an additional 38,185 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of C3.ai by 8.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company's stock valued at $53,728,000 after purchasing an additional 178,870 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of C3.ai by 28.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 14,400 shares of the company's stock valued at $496,000 after purchasing an additional 3,161 shares during the last quarter. Finally, TT International Asset Management LTD bought a new position in shares of C3.ai in the 4th quarter worth approximately $482,000. Hedge funds and other institutional investors own 38.96% of the company's stock.

C3.ai Stock Performance

AI stock traded up $0.03 during trading on Friday, hitting $19.38. 2,348,902 shares of the company's stock traded hands, compared to its average volume of 5,207,977. The business has a fifty day simple moving average of $23.20 and a 200 day simple moving average of $28.98. C3.ai, Inc. has a 52 week low of $17.03 and a 52 week high of $45.08. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of -8.77 and a beta of 2.01.

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 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 the consensus estimate of $98.12 million. C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. Research analysts forecast that C3.ai, Inc. will post -2.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AI has been the subject of a number of recent research reports. DA Davidson cut their price objective on shares of C3.ai from $25.00 to $18.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. KeyCorp reduced their target price on shares of C3.ai from $21.00 to $17.00 and set an "underweight" rating for the company in a report on Thursday. Morgan Stanley dropped their price target on shares of C3.ai from $30.00 to $20.00 and set an "underweight" rating for the company in a research report on Wednesday. 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. Finally, Needham & Company LLC restated a "hold" rating on shares of C3.ai in a research report on Thursday, February 27th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $29.58.

Insiders Place Their Bets

In other C3.ai news, CEO Thomas M. Siebel sold 13,567 shares of the business's stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $19.47, for a total value of $264,149.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Merel Witteveen sold 1,133 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $22.25, for a total transaction of $25,209.25. Following the transaction, the vice president now directly owns 7,287 shares in the company, valued at approximately $162,135.75. This trade represents a 13.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,446,967 shares of company stock valued at $37,175,326 over the last three months. 33.54% of the stock is owned by company insiders.

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.