Ameriprise Financial Inc. Boosts Position in C3.ai, Inc. (NYSE:AI)

Ameriprise Financial Inc. increased its stake in shares of C3.ai, Inc. (NYSE:AI - Free Report) by 26.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 59,645 shares of the company's stock after buying an additional 12,504 shares during the period. Ameriprise Financial Inc.'s holdings in C3.ai were worth $2,054,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Janney Montgomery Scott LLC increased its stake in shares of C3.ai by 70.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 55,339 shares of the company's stock worth $1,905,000 after purchasing an additional 22,949 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in C3.ai by 72.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,322 shares of the company's stock worth $46,000 after buying an additional 555 shares in the last quarter. Kingswood Wealth Advisors LLC purchased a new position in C3.ai in the 4th quarter worth approximately $633,000. Blue Trust Inc. grew its stake in C3.ai by 344.6% in the 4th quarter. Blue Trust Inc. now owns 1,774 shares of the company's stock worth $61,000 after buying an additional 1,375 shares in the last quarter. Finally, KBC Group NV grew its stake in C3.ai by 35.8% in the 4th quarter. KBC Group NV now owns 4,878 shares of the company's stock worth $168,000 after buying an additional 1,285 shares in the last quarter. Hedge funds and other institutional investors own 38.96% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AI shares. KeyCorp restated a "mixed" rating on shares of C3.ai in a report on Thursday. Canaccord Genuity Group lowered their price objective on shares of C3.ai from $30.00 to $28.00 and set a "hold" rating for the company in a report on Thursday. Oppenheimer lowered their price objective on shares of C3.ai from $56.00 to $45.00 and set an "outperform" rating for the company in a report on Thursday. Needham & Company LLC restated a "hold" rating on shares of C3.ai in a report on Thursday. Finally, Piper Sandler lowered their price objective on shares of C3.ai from $28.00 to $27.00 and set a "neutral" rating for the company in a report on Thursday. Five investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $29.46.

Insider Buying and Selling at C3.ai

In related news, CEO Thomas M. Siebel sold 216,974 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $21.88, for a total transaction of $4,747,391.12. Following the sale, the chief executive officer now directly owns 726,177 shares of the company's stock, valued at approximately $15,888,752.76. This represents a 23.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Merel Witteveen sold 5,719 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $23.32, for a total transaction of $133,367.08. Following the completion of the transaction, the vice president now owns 12,066 shares in the company, valued at $281,379.12. This trade represents a 32.16% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,529,519 shares of company stock valued at $34,038,096. 33.54% of the stock is currently owned by company insiders.

C3.ai Price Performance

C3.ai stock traded down $1.22 during mid-day trading on Friday, reaching $26.58. 11,988,832 shares of the company traded hands, compared to its average volume of 5,187,135. The firm's 50 day moving average price is $21.87 and its 200 day moving average price is $28.29. The firm has a market capitalization of $3.53 billion, a price-to-earnings ratio of -12.03 and a beta of 1.99. C3.ai, Inc. has a 52-week low of $17.03 and a 52-week high of $45.08.

C3.ai (NYSE:AI - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.20) by $0.04. The business had revenue of $108.72 million for the quarter, compared to the consensus estimate of $107.85 million. C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. The company's quarterly revenue was up 25.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.11) EPS. On average, sell-side analysts anticipate that C3.ai, Inc. will post -2.44 EPS for the current year.

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.