Two Sigma Advisers LP Makes New Investment in C3.ai, Inc. (NYSE:AI)

Two Sigma Advisers LP purchased a new position in shares of C3.ai, Inc. (NYSE:AI - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 892,400 shares of the company's stock, valued at approximately $30,725,000. Two Sigma Advisers LP owned 0.69% of C3.ai at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Brown Lisle Cummings Inc. grew its stake in shares of C3.ai by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company's stock valued at $28,000 after purchasing an additional 400 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings 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 worth $31,000 after purchasing an additional 456 shares during the period. Legal & General Group Plc grew its position in C3.ai by 0.4% in the 4th quarter. Legal & General Group Plc now owns 119,144 shares of the company's stock valued at $4,102,000 after buying an additional 517 shares during the last quarter. Geneos Wealth Management Inc. grew its position in C3.ai by 72.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,322 shares of the company's stock valued at $46,000 after buying an additional 555 shares during the last quarter. Finally, Corient Private Wealth LLC increased its stake in C3.ai by 2.4% in the 4th quarter. Corient Private Wealth LLC now owns 23,371 shares of the company's stock valued at $805,000 after buying an additional 555 shares during the period. Institutional investors and hedge funds own 38.96% of the company's stock.

Insider Transactions at C3.ai

In other news, CEO Thomas M. Siebel sold 13,567 shares of the business's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $19.47, for a total value of $264,149.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas M. Siebel sold 216,974 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $21.88, for a total value 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. This represents a 23.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,529,051 shares of company stock valued at $34,028,030 in the last ninety days. Corporate insiders own 33.54% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. KeyCorp reduced 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 cut their price target on shares of C3.ai from $25.00 to $18.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Morgan Stanley lowered their price objective on C3.ai from $30.00 to $20.00 and set an "underweight" rating on the stock in a report on Wednesday, April 16th. Canaccord Genuity Group dropped their target price on C3.ai from $40.00 to $30.00 and set a "hold" rating on the stock in a research report on Thursday, February 27th. Finally, Needham & Company LLC reissued a "hold" rating on shares of C3.ai in a report on Thursday, February 27th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $29.58.

C3.ai Trading Up 0.0%

Shares of NYSE:AI traded up $0.01 during trading on Monday, hitting $22.74. 4,011,499 shares of the stock were exchanged, compared to its average volume of 5,137,344. The company has a fifty day moving average price of $21.68 and a two-hundred day moving average price of $28.40. The company has a market cap of $3.02 billion, a PE ratio of -10.29 and a beta of 1.99. C3.ai, Inc. has a 12-month low of $17.03 and a 12-month high of $45.08.

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