Invesco Ltd. Purchases 28,071 Shares of C3.ai, Inc. (NYSE:AI)

Invesco Ltd. grew its stake in C3.ai, Inc. (NYSE:AI - Free Report) by 9.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 331,767 shares of the company's stock after purchasing an additional 28,071 shares during the quarter. Invesco Ltd. owned about 0.26% of C3.ai worth $11,423,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Brown Lisle Cummings Inc. boosted its stake in C3.ai by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company's stock worth $28,000 after purchasing an additional 400 shares during the period. Russell Investments Group Ltd. boosted its stake 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 worth $31,000 after buying an additional 456 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of 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 acquiring an additional 555 shares in the last quarter. Corient Private Wealth LLC grew its holdings in shares of 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 in the last quarter. Finally, CIBC Private Wealth Group LLC raised its holdings in C3.ai by 35.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,128 shares of the company's stock worth $71,000 after acquiring an additional 560 shares in the last quarter. 38.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other C3.ai news, CEO Thomas M. Siebel sold 13,567 shares of the firm's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $19.47, for a total transaction of $264,149.49. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Thomas M. Siebel sold 552,422 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $33.04, for a total value of $18,252,022.88. Following the sale, the chief executive officer now directly owns 1,336,968 shares of the company's stock, valued at $44,173,422.72. The trade was a 29.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,446,967 shares of company stock worth $37,175,326 in the last ninety days. Corporate insiders own 33.54% of the company's stock.

C3.ai Stock Performance

Shares of C3.ai stock traded up $0.56 on Friday, reaching $22.58. 3,293,400 shares of the company's stock were exchanged, compared to its average volume of 5,179,952. The firm's 50-day moving average is $22.08 and its two-hundred day moving average is $28.80. The company has a market capitalization of $3.00 billion, a P/E ratio of -10.22 and a beta of 2.01. C3.ai, Inc. has a 52 week low of $17.03 and a 52 week high of $45.08.

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 for the quarter, missing the consensus estimate of ($0.25) by ($0.37). The company had revenue of $98.78 million for the quarter, compared to analyst estimates of $98.12 million. C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. On average, analysts expect that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. KeyCorp dropped their price objective on C3.ai from $21.00 to $17.00 and set an "underweight" rating on the stock in a research note on Thursday, April 17th. Piper Sandler dropped their target price on shares of C3.ai from $42.00 to $28.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Morgan Stanley lowered their price target on C3.ai from $30.00 to $20.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 16th. Needham & Company LLC reaffirmed a "hold" rating on shares of C3.ai in a report on Thursday, February 27th. Finally, DA Davidson lowered their price target on shares of C3.ai from $25.00 to $18.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. 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 issued a strong buy rating to the company's stock. According to data from MarketBeat, C3.ai presently has a consensus rating of "Hold" and an average target price of $29.58.

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.