Dimensional Fund Advisors LP Sells 524,952 Shares of C3.ai, Inc. $AI

Key Points

• Dimensional Fund Advisors cut its C3.ai stake by 33.5%, selling 524,952 shares and retaining 1.04 million shares valued at approximately $8.8 million. Institutional investors collectively own 38.96% of the company.
• Analyst sentiment remains cautious: C3.ai has a consensus “Reduce” rating, with one Buy, six Hold, and six Sell ratings and an average price target of $10.67.
• C3.ai beat quarterly EPS expectations, reporting a loss of $0.33 per share versus the estimated $0.38 loss, but revenue fell 52.5% year over year to $51.6 million. Insiders also sold 1.29 million shares worth $12.7 million during the last quarter.

Dimensional Fund Advisors LP lowered its stake in C3.ai, Inc. (NYSE:AI - Free Report) by 33.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,044,250 shares of the company's stock after selling 524,952 shares during the period. Dimensional Fund Advisors LP owned approximately 0.72% of C3.ai worth $8,786,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of AI. Larson Financial Group LLC grew its position in C3.ai by 683.6% during the 3rd quarter. Larson Financial Group LLC now owns 1,481 shares of the company's stock worth $26,000 after acquiring an additional 1,292 shares during the last quarter. Farther Finance Advisors LLC lifted its position in C3.ai by 66.1% in the fourth quarter. Farther Finance Advisors LLC now owns 2,141 shares of the company's stock valued at $29,000 after purchasing an additional 852 shares during the last quarter. Parallel Advisors LLC lifted its position in C3.ai by 76.4% in the third quarter. Parallel Advisors LLC now owns 1,849 shares of the company's stock valued at $32,000 after purchasing an additional 801 shares during the last quarter. Comerica Bank boosted its stake in shares of C3.ai by 839.1% during the fourth quarter. Comerica Bank now owns 2,423 shares of the company's stock valued at $33,000 after purchasing an additional 2,165 shares during the period. Finally, AdvisorNet Financial Inc purchased a new stake in shares of C3.ai during the first quarter valued at approximately $34,000. Institutional investors own 38.96% of the company's stock.

Wall Street Analysts Forecast Growth

AI has been the topic of several recent analyst reports. UBS Group raised their target price on shares of C3.ai from $9.00 to $12.00 and gave the stock a "neutral" rating in a report on Thursday, June 4th. Morgan Stanley increased their price target on shares of C3.ai from $6.00 to $7.00 and gave the company an "underweight" rating in a research report on Thursday, June 4th. Wedbush restated an "outperform" rating and issued a $15.00 price objective on shares of C3.ai in a research report on Thursday, June 4th. DA Davidson reaffirmed an "underperform" rating and set a $7.00 price objective on shares of C3.ai in a research note on Thursday, June 4th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of C3.ai in a report on Thursday, June 4th. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and six have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus price target of $10.67.

C3.ai Trading Up 0.4%

NYSE:AI opened at $10.26 on Monday. The company has a 50-day moving average price of $9.60 and a 200-day moving average price of $9.62. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of -3.07 and a beta of 2.08. C3.ai, Inc. has a 12 month low of $7.68 and a 12 month high of $22.95.

C3.ai (NYSE:AI - Get Free Report) last announced its quarterly earnings results on Wednesday, June 3rd. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.38) by $0.05. C3.ai had a negative net margin of 187.95% and a negative return on equity of 62.44%. The company had revenue of $51.60 million for the quarter, compared to analysts' expectations of $51.60 million. During the same quarter in the previous year, the company earned ($0.16) earnings per share. C3.ai's quarterly revenue was down 52.5% on a year-over-year basis. Equities analysts forecast that C3.ai, Inc. will post -2.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Thomas M. Siebel sold 472,005 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $11.11, for a total value of $5,243,975.55. Following the completion of the transaction, the chief executive officer owned 722,362 shares of the company's stock, valued at approximately $8,025,441.82. This represents a 39.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Hitesh Lath sold 48,619 shares of C3.ai stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $8.77, for a total value of $426,388.63. Following the sale, the chief financial officer owned 383,106 shares in the company, valued at $3,359,839.62. This represents a 11.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 1,287,434 shares of company stock worth $12,709,009. Company insiders own 26.50% of the company's stock.

C3.ai Company Profile

C3.ai, Inc is a leading enterprise software provider focused on delivering scalable artificial intelligence (AI) and Internet of Things (IoT) solutions to large organizations. The company's core offering, the C3 AI Suite, is a comprehensive, model-driven platform that unifies data ingestion, model development, and application deployment. Through its suite of tools, C3.ai enables customers to accelerate digital transformation initiatives by applying advanced machine learning, predictive analytics, and AI-driven insights across a broad range of business functions.

The C3 AI Suite provides a low-code environment for data scientists and application developers to rapidly design, test, and deploy enterprise-scale AI applications.

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