Graham Capital Management L.P. Sells 22,821 Shares of C3.ai, Inc. (NYSE:AI)

Graham Capital Management L.P. reduced its holdings in shares of C3.ai, Inc. (NYSE:AI - Free Report) by 64.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,714 shares of the company's stock after selling 22,821 shares during the quarter. Graham Capital Management L.P.'s holdings in C3.ai were worth $438,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AI. Brown Lisle Cummings Inc. boosted its holdings 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 buying an additional 400 shares during the period. Russell Investments Group Ltd. boosted its position in C3.ai by 100.7% during the 4th quarter. Russell Investments Group Ltd. now owns 909 shares of the company's stock worth $31,000 after acquiring an additional 456 shares during the period. Legal & General Group Plc increased its holdings in shares of C3.ai by 0.4% during the fourth quarter. Legal & General Group Plc now owns 119,144 shares of the company's stock valued at $4,102,000 after purchasing an additional 517 shares during the period. 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 in the last quarter. Finally, Corient Private Wealth LLC raised its position in shares of C3.ai by 2.4% during the 4th quarter. Corient Private Wealth LLC now owns 23,371 shares of the company's stock worth $805,000 after buying an additional 555 shares in the last quarter. Institutional investors and hedge funds own 38.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. KeyCorp cut 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. Needham & Company LLC reissued a "hold" rating on shares of C3.ai in a research note on Thursday, February 27th. Canaccord Genuity Group cut 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. Piper Sandler reduced their target price on C3.ai from $42.00 to $28.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. Finally, Morgan Stanley dropped their price target on C3.ai from $30.00 to $20.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 16th. Five 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's stock. Based on data from MarketBeat, C3.ai has an average rating of "Hold" and an average target price of $29.58.

C3.ai Stock Down 0.2%

Shares of NYSE:AI traded down $0.05 during trading on Tuesday, reaching $23.13. 4,650,643 shares of the company traded hands, compared to its average volume of 5,123,778. The firm has a fifty day simple moving average of $21.60 and a 200 day simple moving average of $28.52. C3.ai, Inc. has a 1-year low of $17.03 and a 1-year high of $45.08. The firm has a market cap of $3.07 billion, a P/E ratio of -10.47 and a beta of 1.99.

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). The firm 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%. As a group, research analysts anticipate that C3.ai, Inc. will post -2.44 EPS for the current year.

Insider Activity at C3.ai

In other news, CEO Thomas M. Siebel sold 216,974 shares of the company's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $21.88, for a total transaction 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 approximately $15,888,752.76. This represents a 23.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas M. Siebel sold 13,567 shares of the company's stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $19.47, for a total value of $264,149.49. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,529,051 shares of company stock valued at $34,028,030. 33.54% of the stock is currently owned by corporate insiders.

C3.ai Company 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.