129,000 Shares in C3.ai, Inc. (NYSE:AI) Purchased by GF Fund Management CO. LTD.

GF Fund Management CO. LTD. acquired a new stake in shares of C3.ai, Inc. (NYSE:AI - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 129,000 shares of the company's stock, valued at approximately $4,441,000. GF Fund Management CO. LTD. owned about 0.10% of C3.ai at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AI. Brown Lisle Cummings Inc. raised its stake in shares of C3.ai by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company's stock valued at $28,000 after acquiring an additional 400 shares during the period. R Squared Ltd purchased a new stake in shares of C3.ai during the fourth quarter valued at $29,000. Russell Investments Group Ltd. boosted its stake in shares of C3.ai by 100.7% during the fourth quarter. Russell Investments Group Ltd. now owns 909 shares of the company's stock valued at $31,000 after purchasing an additional 456 shares during the period. WealthTrak Capital Management LLC purchased a new stake in shares of C3.ai during the fourth quarter valued at $33,000. Finally, CENTRAL TRUST Co purchased a new stake in shares of C3.ai during the fourth quarter valued at $34,000. Institutional investors own 38.96% of the company's stock.

Analysts Set New Price Targets

AI has been the subject of a number of recent analyst reports. KeyCorp lowered their target price on shares of C3.ai from $21.00 to $17.00 and set an "underweight" rating for the company in a research note on Thursday, April 17th. DA Davidson lowered their target price on shares of C3.ai from $25.00 to $18.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Needham & Company LLC reissued a "hold" rating on shares of C3.ai in a research note on Thursday, February 27th. Piper Sandler lowered their target price on shares of C3.ai from $42.00 to $28.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. Finally, Morgan Stanley lowered their price objective on shares of C3.ai from $30.00 to $20.00 and set an "underweight" rating for the company in a research note on Wednesday, April 16th. Five analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $29.58.

C3.ai Stock Performance

C3.ai stock traded down $0.85 during trading on Wednesday, reaching $23.07. The company had a trading volume of 12,498,737 shares, compared to its average volume of 5,179,988. The firm's 50-day simple moving average is $21.71 and its 200 day simple moving average is $28.34. C3.ai, Inc. has a 1-year low of $17.03 and a 1-year high of $45.08. The firm has a market capitalization of $3.06 billion, a PE ratio of -10.44 and a beta of 1.99.

C3.ai (NYSE:AI - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.37). C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. The firm had revenue of $98.78 million for the quarter, compared to analysts' expectations of $98.12 million. Analysts anticipate that C3.ai, Inc. will post -2.44 EPS for the current year.

Insider Activity

In related news, CEO Thomas M. Siebel sold 216,974 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $21.88, for a total transaction of $4,747,391.12. Following the completion of the sale, the chief executive officer now owns 726,177 shares in the company, valued at $15,888,752.76. The trade was a 23.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 directly owns 7,287 shares in the company, valued at approximately $162,135.75. The trade was a 13.46% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,528,714 shares of company stock worth $34,019,130. 33.54% of the stock is currently 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.