Neo Ivy Capital Management Invests $3.68 Million in C3.ai, Inc. (NYSE:AI)

Neo Ivy Capital Management acquired a new position in C3.ai, Inc. (NYSE:AI - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 106,896 shares of the company's stock, valued at approximately $3,680,000. Neo Ivy Capital Management owned 0.08% of C3.ai as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of C3.ai by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 12,935,969 shares of the company's stock valued at $445,385,000 after buying an additional 446,529 shares in the last quarter. Geode Capital Management LLC lifted its holdings in C3.ai by 14.1% during the fourth 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 in the last quarter. Two Sigma Investments LP acquired a new stake in shares of C3.ai in the fourth quarter valued at about $42,306,000. Man Group plc purchased a new stake in shares of C3.ai during the fourth quarter worth about $38,455,000. Finally, Northern Trust Corp raised its position in shares of C3.ai by 28.7% during the 4th quarter. Northern Trust Corp now owns 1,055,075 shares of the company's stock worth $36,326,000 after purchasing an additional 235,364 shares during the last quarter. 38.96% of the stock is owned by hedge funds and other institutional investors.

C3.ai Trading Down 1.6%

AI stock traded down $0.37 during trading on Wednesday, reaching $23.55. 3,937,344 shares of the stock were exchanged, compared to its average volume of 5,142,006. The business has a 50 day moving average price of $21.71 and a 200-day moving average price of $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 $3.13 billion, a price-to-earnings ratio of -10.64 and a beta of 1.99.

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 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 firm had revenue of $98.78 million for the quarter, compared to analyst estimates of $98.12 million. On average, research analysts anticipate that C3.ai, Inc. will post -2.44 EPS for the current year.

Insider Buying and Selling

In other news, CEO Thomas M. Siebel sold 216,974 shares of the company's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $21.88, for a total value of $4,747,391.12. Following the transaction, the chief executive officer now owns 726,177 shares of the company's stock, valued at $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 is available at this hyperlink. Also, CEO Thomas M. Siebel sold 13,567 shares of the business's stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $19.47, for a total transaction of $264,149.49. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,528,714 shares of company stock worth $34,019,130. Company insiders own 33.54% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on AI shares. Canaccord Genuity Group lowered their price objective on C3.ai from $40.00 to $30.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. Piper Sandler lowered their price target on C3.ai from $42.00 to $28.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. Morgan Stanley reduced their price objective on C3.ai from $30.00 to $20.00 and set an "underweight" rating for the company in a research note on Wednesday, April 16th. DA Davidson lowered 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 note on Monday, April 14th. Finally, KeyCorp dropped 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. Five analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, C3.ai currently has a consensus rating of "Hold" and a consensus price target of $29.58.

C3.ai Company 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.