EVR Research LP Sells 129,600 Shares of C3.ai, Inc. (NYSE:AI)

EVR Research LP reduced its holdings in shares of C3.ai, Inc. (NYSE:AI - Free Report) by 33.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 257,900 shares of the company's stock after selling 129,600 shares during the quarter. C3.ai accounts for about 3.0% of EVR Research LP's holdings, making the stock its 15th biggest position. EVR Research LP owned approximately 0.20% of C3.ai worth $8,879,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its holdings in C3.ai by 1,242.5% during the fourth quarter. Renaissance Technologies LLC now owns 718,231 shares of the company's stock valued at $24,729,000 after purchasing an additional 664,731 shares during the last quarter. Vanguard Group Inc. boosted its stake in C3.ai by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 12,935,969 shares of the company's stock worth $445,385,000 after buying an additional 446,529 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of C3.ai by 14.1% during the 4th quarter. Geode Capital Management LLC now owns 2,529,991 shares of the company's stock valued at $87,128,000 after purchasing an additional 313,066 shares during the last quarter. Norges Bank bought a new stake in C3.ai in the fourth quarter worth $9,271,000. Finally, Rockefeller Capital Management L.P. increased its holdings in shares of C3.ai by 712.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 201,823 shares of the company's stock worth $6,949,000 after buying an additional 176,982 shares during the period. 38.96% of the stock is owned by institutional investors.

Insider Activity at C3.ai

In related news, CEO Thomas M. Siebel sold 552,422 shares of the business's stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $33.04, for a total value of $18,252,022.88. Following the sale, the chief executive officer now directly owns 1,336,968 shares in the company, valued at $44,173,422.72. The trade was a 29.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Merel Witteveen sold 1,133 shares of the business's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $22.25, for a total transaction of $25,209.25. Following the sale, the vice president now owns 7,287 shares in the company, valued at $162,135.75. This represents a 13.46 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,446,967 shares of company stock valued at $37,175,326. Company insiders own 33.54% of the company's stock.

C3.ai Stock Performance

Shares of C3.ai stock traded up $0.15 during trading hours on Thursday, hitting $19.50. The company's stock had a trading volume of 1,306,050 shares, compared to its average volume of 5,198,348. The firm has a fifty day moving average of $23.77 and a 200-day moving average of $28.95. The stock has a market cap of $2.59 billion, a price-to-earnings ratio of -8.80 and a beta of 2.01. C3.ai, Inc. has a twelve month low of $17.03 and a twelve month high of $45.08.

C3.ai (NYSE:AI - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $98.78 million during the quarter, compared to analysts' expectations of $98.12 million. C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. On average, sell-side analysts expect that C3.ai, Inc. will post -2.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AI. Piper Sandler dropped their price target on shares of C3.ai from $42.00 to $28.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. Morgan Stanley reduced their price objective on shares of C3.ai from $30.00 to $20.00 and set an "underweight" rating on the stock in a research report on Wednesday. KeyCorp decreased 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 decreased their target price on shares of C3.ai from $25.00 to $18.00 and set a "neutral" rating on the stock in a research report on Monday. Finally, Needham & Company LLC reiterated a "hold" rating on shares of C3.ai in a report on Thursday, February 27th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price 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.