First Trust Advisors LP Sells 127,287 Shares of C3.ai, Inc. (NYSE:AI)

First Trust Advisors LP reduced its stake in shares of C3.ai, Inc. (NYSE:AI - Free Report) by 34.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 240,293 shares of the company's stock after selling 127,287 shares during the period. First Trust Advisors LP owned about 0.19% of C3.ai worth $8,273,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Brown Lisle Cummings Inc. grew its holdings in C3.ai by 100.0% during the fourth 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 period. Russell Investments Group Ltd. lifted its position in shares of C3.ai by 100.7% during 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. Legal & General Group Plc grew its stake in shares of C3.ai by 0.4% during the 4th quarter. Legal & General Group Plc now owns 119,144 shares of the company's stock worth $4,102,000 after acquiring an additional 517 shares during the period. Geneos Wealth Management Inc. increased its holdings in C3.ai by 72.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,322 shares of the company's stock worth $46,000 after acquiring an additional 555 shares during the last quarter. Finally, Corient Private Wealth LLC raised 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 acquiring an additional 555 shares during the period. Hedge funds and other institutional investors own 38.96% of the company's stock.

C3.ai Stock Performance

NYSE:AI traded down $0.16 during mid-day trading on Thursday, reaching $21.85. The stock had a trading volume of 3,034,714 shares, compared to its average volume of 5,167,083. C3.ai, Inc. has a one year low of $17.03 and a one year high of $45.08. The firm has a 50 day moving average price of $21.63 and a two-hundred day moving average price of $28.71. The stock has a market capitalization of $2.90 billion, a P/E ratio of -9.89 and a beta of 2.01.

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 business had revenue of $98.78 million during 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%. Research analysts forecast that C3.ai, Inc. will post -2.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Canaccord Genuity Group reduced their target price on shares of C3.ai from $40.00 to $30.00 and set a "hold" rating for the company in a research note on Thursday, February 27th. Morgan Stanley lowered 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. Piper Sandler cut their price target on C3.ai from $42.00 to $28.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. Needham & Company LLC reiterated a "hold" rating on shares of C3.ai in a research note on Thursday, February 27th. Finally, KeyCorp reduced their target price on 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 assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, C3.ai presently has a consensus rating of "Hold" and a consensus price target of $29.58.

Insider Buying and Selling at C3.ai

In other C3.ai news, Director Richard C. Levin sold 12,000 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $29.84, for a total transaction of $358,080.00. Following the completion of the sale, the director now owns 161,664 shares of the company's stock, valued at $4,824,053.76. This represents a 6.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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. Insiders sold a total of 1,446,967 shares of company stock worth $37,175,326 over the last three months. Company 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.