Twinbeech Capital LP Takes $5.51 Million Position in C3.ai, Inc. (NYSE:AI)

Twinbeech Capital LP acquired a new stake in C3.ai, Inc. (NYSE:AI - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 159,978 shares of the company's stock, valued at approximately $5,508,000. Twinbeech Capital LP owned approximately 0.12% of C3.ai as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Two Sigma Advisers LP bought a new position in C3.ai in the 4th quarter valued at about $30,725,000. Two Sigma Investments LP bought a new stake in shares of C3.ai during the 4th quarter worth about $42,306,000. Raiffeisen Bank International AG bought a new position in C3.ai in the 4th quarter worth $36,000. ProShare Advisors LLC boosted its position in shares of C3.ai by 91.3% in the fourth quarter. ProShare Advisors LLC now owns 31,769 shares of the company's stock valued at $1,094,000 after acquiring an additional 15,163 shares during the period. Finally, Man Group plc acquired a new stake in C3.ai during the fourth quarter worth about $38,455,000. Hedge funds and other institutional investors own 38.96% of the company's stock.

C3.ai Stock Performance

C3.ai stock traded up $0.01 during midday trading on Friday, reaching $22.74. 4,011,499 shares of the stock were exchanged, compared to its average volume of 5,129,836. The company's fifty day moving average is $21.67 and its 200-day moving average is $28.42. C3.ai, Inc. has a 52 week low of $17.03 and a 52 week high of $45.08. The firm has a market cap of $3.02 billion, a PE ratio of -10.29 and a beta of 1.99.

C3.ai (NYSE:AI - Get Free Report) last announced its quarterly earnings data 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). The company had revenue of $98.78 million for the quarter, compared to the consensus estimate of $98.12 million. C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. On average, sell-side analysts anticipate that C3.ai, Inc. will post -2.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other C3.ai news, CEO Thomas M. Siebel sold 272,079 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $23.99, for a total transaction of $6,527,175.21. Following the sale, the chief executive officer now directly owns 4,402,564 shares of the company's stock, valued at $105,617,510.36. This trade represents a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 on Wednesday, March 19th. The stock was sold at an average price of $22.25, for a total transaction of $25,209.25. Following the completion of the sale, the vice president now 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. Over the last 90 days, insiders sold 1,529,051 shares of company stock worth $34,028,030. 33.54% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have weighed in on AI shares. Needham & Company LLC reiterated a "hold" rating on shares of C3.ai in a research report on Thursday, February 27th. Canaccord Genuity Group lowered their price objective on C3.ai from $40.00 to $30.00 and set a "hold" rating for the company in a research report on Thursday, February 27th. DA Davidson reduced their price target on C3.ai from $25.00 to $18.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Morgan Stanley cut their target price on shares of C3.ai from $30.00 to $20.00 and set an "underweight" rating on the stock in a report on Wednesday, April 16th. Finally, Piper Sandler lowered their target price on C3.ai from $42.00 to $28.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. Five research analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $29.58.

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.