Two Sigma Investments LP Makes New $42.31 Million Investment in C3.ai, Inc. (NYSE:AI)

Two Sigma Investments LP acquired a new position in shares of C3.ai, Inc. (NYSE:AI - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,228,751 shares of the company's stock, valued at approximately $42,306,000. Two Sigma Investments LP owned 0.95% of C3.ai at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Brown Lisle Cummings Inc. grew its holdings in shares of C3.ai by 100.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company's stock valued at $28,000 after acquiring an additional 400 shares in the last quarter. R Squared Ltd acquired a new position in C3.ai during the 4th quarter worth $29,000. Russell Investments Group Ltd. grew its holdings in C3.ai by 100.7% in the 4th quarter. Russell Investments Group Ltd. now owns 909 shares of the company's stock valued at $31,000 after buying an additional 456 shares during the last quarter. WealthTrak Capital Management LLC bought a new position in C3.ai in the 4th quarter worth approximately $33,000. Finally, CENTRAL TRUST Co acquired a new position in C3.ai in the 4th quarter valued at approximately $34,000. 38.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AI. Morgan Stanley reduced their price objective on shares of C3.ai from $30.00 to $20.00 and set an "underweight" rating for the company in a report on Wednesday, April 16th. Canaccord Genuity Group dropped their price objective on shares of 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 decreased their price objective 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. Piper Sandler cut 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. Finally, Needham & Company LLC reiterated a "hold" rating on shares of C3.ai in a research report on Thursday, February 27th. Five investment 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. According to data from MarketBeat.com, C3.ai currently has a consensus rating of "Hold" and an average price target of $29.58.

C3.ai Price Performance

Shares of AI traded up $0.01 during mid-day trading on Friday, hitting $22.74. 4,011,499 shares of the company's stock were exchanged, compared to its average volume of 5,129,836. C3.ai, Inc. has a 52 week low of $17.03 and a 52 week high of $45.08. The company has a market cap of $3.02 billion, a PE ratio of -10.29 and a beta of 1.99. The company has a 50-day simple moving average of $21.67 and a 200 day simple moving average of $28.42.

C3.ai (NYSE:AI - Get Free Report) last issued 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 company had revenue of $98.78 million for the quarter, compared to analyst estimates of $98.12 million. On average, analysts anticipate that C3.ai, Inc. will post -2.44 earnings per share for the current year.

Insider Buying and Selling at C3.ai

In related news, CEO Thomas M. Siebel sold 294,116 shares of the firm's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $21.50, for a total value of $6,323,494.00. Following the sale, the chief executive officer now directly owns 943,151 shares of the company's stock, valued at $20,277,746.50. This trade represents a 23.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Merel Witteveen sold 1,133 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $22.25, for a total transaction of $25,209.25. Following the completion of the transaction, the vice president now directly owns 7,287 shares of the company's stock, 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. Insiders have sold a total of 1,529,051 shares of company stock worth $34,028,030 over the last ninety days. Insiders own 33.54% of the company's stock.

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.