Two Sigma Advisers LP bought a new stake in C3.ai, Inc. (NYSE:AI - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 892,400 shares of the company's stock, valued at approximately $30,725,000. Two Sigma Advisers LP owned about 0.69% of C3.ai as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in AI. Two Sigma Investments LP purchased a new position in C3.ai during the fourth quarter worth about $42,306,000. Raiffeisen Bank International AG acquired a new stake in shares of C3.ai in the fourth quarter valued at approximately $36,000. ProShare Advisors LLC grew 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 purchasing an additional 15,163 shares during the last quarter. Man Group plc acquired a new stake in shares of C3.ai in the fourth quarter valued at approximately $38,455,000. Finally, Nomura Holdings Inc. acquired a new stake in shares of C3.ai in the fourth quarter valued at approximately $304,000. 38.96% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several analysts have recently commented on AI shares. Morgan Stanley lowered their price target on shares of C3.ai from $30.00 to $20.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 16th. Canaccord Genuity Group reduced their price objective on shares of C3.ai from $40.00 to $30.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. KeyCorp reduced their price objective on shares of C3.ai from $21.00 to $17.00 and set an "underweight" rating on the stock in a research note on Thursday, April 17th. Needham & Company LLC reissued a "hold" rating on shares of C3.ai in a research note on Thursday, February 27th. Finally, Piper Sandler reduced their price objective on shares of C3.ai from $42.00 to $28.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $29.58.
Check Out Our Latest Analysis on C3.ai
Insider Activity
In related news, VP Merel Witteveen sold 5,719 shares of the firm's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $23.32, for a total transaction of $133,367.08. Following the completion of the sale, the vice president now directly owns 12,066 shares of the company's stock, valued at approximately $281,379.12. This trade represents a 32.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas M. Siebel sold 13,567 shares of the firm's stock in a transaction on 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. In the last 90 days, insiders have sold 1,529,051 shares of company stock valued at $34,028,030. Company insiders own 33.54% of the company's stock.
C3.ai Price Performance
NYSE:AI traded up $0.01 during trading hours on Friday, reaching $22.74. 4,011,499 shares of the company were exchanged, compared to its average volume of 5,129,837. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of -10.29 and a beta of 1.99. C3.ai, Inc. has a 52-week low of $17.03 and a 52-week high of $45.08. The stock has a 50 day simple moving average of $21.68 and a 200 day simple moving average of $28.39.
C3.ai (NYSE:AI - Get Free Report) last issued its earnings results on Wednesday, February 26th. The company reported ($0.62) EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $98.78 million during the quarter, compared to analysts' expectations of $98.12 million. On average, analysts predict that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.
C3.ai Company Profile
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Free Report)
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.
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