Dow Chemical Co. DE Sells 74,000 Shares of C3.ai, Inc. (NYSE:AI)

Dow Chemical Co. DE lowered its position in shares of C3.ai, Inc. (NYSE:AI - Free Report) by 25.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 222,098 shares of the company's stock after selling 74,000 shares during the quarter. C3.ai accounts for 1.3% of Dow Chemical Co. DE's investment portfolio, making the stock its 3rd largest holding. Dow Chemical Co. DE owned 0.17% of C3.ai worth $7,647,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Brown Lisle Cummings Inc. increased its holdings in shares of C3.ai by 100.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company's stock worth $28,000 after buying an additional 400 shares during the last quarter. R Squared Ltd acquired a new stake in shares of C3.ai in the fourth quarter valued at about $29,000. Russell Investments Group Ltd. raised its holdings in shares of C3.ai by 100.7% during the 4th quarter. Russell Investments Group Ltd. now owns 909 shares of the company's stock valued at $31,000 after buying an additional 456 shares during the period. WealthTrak Capital Management LLC acquired a new position in C3.ai during the 4th quarter worth approximately $33,000. Finally, CENTRAL TRUST Co purchased a new position in C3.ai in the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 38.96% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AI. Piper Sandler decreased their price objective on shares of C3.ai from $42.00 to $28.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. Canaccord Genuity Group cut their target price on C3.ai from $40.00 to $30.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. Needham & Company LLC reissued a "hold" rating on shares of C3.ai in a report on Thursday, February 27th. 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, April 17th. Finally, DA Davidson cut their price objective on C3.ai from $25.00 to $18.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Five research analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $29.58.

C3.ai Stock Up 3.4 %

AI traded up $0.68 during trading on Wednesday, hitting $20.54. The company's stock had a trading volume of 2,419,792 shares, compared to its average volume of 5,180,641. The firm's 50 day moving average price is $22.68 and its two-hundred day moving average price is $28.88. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of -9.29 and a beta of 2.01. C3.ai, Inc. has a 12 month low of $17.03 and a 12 month 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) EPS for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.37). C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. The company had revenue of $98.78 million for the quarter, compared to the consensus estimate of $98.12 million. On average, sell-side analysts forecast that C3.ai, Inc. will post -2.44 earnings per share for the current year.

Insider Activity

In other news, Director Richard C. Levin sold 12,000 shares of the firm's 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 sale, the director now owns 161,664 shares of the company's stock, valued at $4,824,053.76. This trade represents a 6.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 value of $25,209.25. Following the completion of the transaction, the vice president now owns 7,287 shares of the company's stock, valued at $162,135.75. This represents a 13.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,446,967 shares of company stock valued at $37,175,326 over the last 90 days. 33.54% of the stock is owned by company insiders.

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.