Free Trial

Man Group plc Acquires Shares of 1,116,904 C3.ai, Inc. (NYSE:AI)

C3.ai logo with Computer and Technology background

Man Group plc bought a new position in shares of C3.ai, Inc. (NYSE:AI - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,116,904 shares of the company's stock, valued at approximately $38,455,000. Man Group plc owned about 0.87% of C3.ai as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of AI. Renaissance Technologies LLC boosted its stake in C3.ai by 1,242.5% in the 4th quarter. Renaissance Technologies LLC now owns 718,231 shares of the company's stock valued at $24,729,000 after purchasing an additional 664,731 shares during the period. Vanguard Group Inc. increased its position in C3.ai by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 12,935,969 shares of the company's stock worth $445,385,000 after buying an additional 446,529 shares during the period. Geode Capital Management LLC lifted its holdings in shares of C3.ai by 14.1% during the fourth quarter. Geode Capital Management LLC now owns 2,529,991 shares of the company's stock worth $87,128,000 after buying an additional 313,066 shares in the last quarter. Norges Bank bought a new stake in shares of C3.ai in the fourth quarter valued at about $9,271,000. Finally, Northern Trust Corp boosted its position in shares of C3.ai by 28.7% in the fourth quarter. Northern Trust Corp now owns 1,055,075 shares of the company's stock valued at $36,326,000 after acquiring an additional 235,364 shares during the period. Institutional investors and hedge funds own 38.96% of the company's stock.

C3.ai Stock Performance

Shares of C3.ai stock traded down $0.06 on Tuesday, hitting $23.12. The stock had a trading volume of 1,313,888 shares, compared to its average volume of 5,110,856. The stock has a 50 day moving average of $21.60 and a 200 day moving average of $28.52. C3.ai, Inc. has a twelve month low of $17.03 and a twelve month high of $45.08. The firm has a market capitalization of $3.07 billion, a P/E ratio of -10.45 and a beta of 1.99.

C3.ai (NYSE:AI - Get Free Report) last issued its quarterly earnings results 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). 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 during the quarter, compared to analyst estimates of $98.12 million. Equities analysts expect that C3.ai, Inc. will post -2.44 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Piper Sandler dropped their price objective on shares of C3.ai from $42.00 to $28.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. DA Davidson dropped their price target on shares of C3.ai from $25.00 to $18.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Morgan Stanley cut their price target on C3.ai from $30.00 to $20.00 and set an "underweight" rating for the company in a research note on Wednesday, April 16th. Needham & Company LLC reaffirmed a "hold" rating on shares of C3.ai in a report on Thursday, February 27th. Finally, Canaccord Genuity Group reduced their target price on C3.ai from $40.00 to $30.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $29.58.

Read Our Latest Research Report on AI

Insiders Place Their Bets

In related news, CEO Thomas M. Siebel sold 341,698 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $24.00, for a total transaction of $8,200,752.00. Following the completion of the sale, the chief executive officer now directly owns 4,674,643 shares of the company's stock, valued at approximately $112,191,432. This trade represents a 6.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Merel Witteveen sold 1,133 shares of the business's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $22.25, for a total value of $25,209.25. Following the completion of the transaction, the vice president now directly owns 7,287 shares in the company, valued at approximately $162,135.75. This represents a 13.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,523,332 shares of company stock valued at $33,894,663 in the last 90 days. 33.54% of the stock is currently owned by corporate insiders.

C3.ai Company Profile

(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.

Read More

Institutional Ownership by Quarter for C3.ai (NYSE:AI)

Should You Invest $1,000 in C3.ai Right Now?

Before you consider C3.ai, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and C3.ai wasn't on the list.

While C3.ai currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

10 Best Cheap Stocks to Buy Now Cover

MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

3 Tech Stocks Insiders Are Buying: Speculative Plays for June
3 Defense Stocks Set to Crush the S&P This Summer
Analysts Are Watching These 4 Penny Stocks—You Should Too

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines