C3.ai, Inc. (NYSE:AI) Shares Purchased by MetLife Investment Management LLC

MetLife Investment Management LLC raised its stake in C3.ai, Inc. (NYSE:AI - Free Report) by 38.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 66,560 shares of the company's stock after purchasing an additional 18,570 shares during the quarter. MetLife Investment Management LLC owned 0.05% of C3.ai worth $2,292,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Brown Lisle Cummings Inc. lifted its position in C3.ai by 100.0% in 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. R Squared Ltd acquired a new stake in shares of C3.ai in the 4th quarter valued at approximately $29,000. Russell Investments Group Ltd. boosted its stake in shares of C3.ai by 100.7% in the fourth quarter. Russell Investments Group Ltd. now owns 909 shares of the company's stock valued at $31,000 after buying an additional 456 shares in the last quarter. WealthTrak Capital Management LLC acquired a new position in C3.ai during the fourth quarter worth $33,000. Finally, CENTRAL TRUST Co purchased a new position in C3.ai in the fourth quarter worth $34,000. Institutional investors and hedge funds own 38.96% of the company's stock.

Insiders Place Their Bets

In related news, Director Richard C. Levin sold 12,000 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $29.84, for a total value of $358,080.00. Following the sale, the director now directly owns 161,664 shares of the company's stock, valued at approximately $4,824,053.76. This trade represents a 6.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas M. Siebel sold 552,422 shares of the company's stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $33.04, for a total transaction of $18,252,022.88. Following the transaction, the chief executive officer now directly owns 1,336,968 shares of the company's stock, valued at $44,173,422.72. This trade represents a 29.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,446,967 shares of company stock valued at $37,175,326 in the last quarter. 33.54% of the stock is currently owned by company insiders.

C3.ai Stock Performance

C3.ai stock traded down $0.17 during midday trading on Thursday, reaching $21.84. 1,909,386 shares of the company were exchanged, compared to its average volume of 5,156,109. The company has a market capitalization of $2.90 billion, a price-to-earnings ratio of -9.90 and a beta of 2.01. The firm's 50-day simple moving average is $21.63 and its 200-day simple moving average is $28.71. C3.ai, Inc. has a 1 year low of $17.03 and a 1 year high of $45.08.

C3.ai (NYSE:AI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.62) earnings per share for the quarter, missing analysts' consensus estimates 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 firm had revenue of $98.78 million during the quarter, compared to analyst estimates of $98.12 million. On average, analysts forecast that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

AI has been the topic of several research analyst reports. Canaccord Genuity Group decreased their target price on shares of C3.ai from $40.00 to $30.00 and set a "hold" rating on the stock in a research report on Thursday, February 27th. Needham & Company LLC restated a "hold" rating on shares of C3.ai in a research report on Thursday, February 27th. Piper Sandler reduced their price target on shares of C3.ai from $42.00 to $28.00 and set a "neutral" rating for the company in a research 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 report on Wednesday, April 16th. Finally, DA Davidson reduced their price objective on C3.ai from $25.00 to $18.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Five research analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target 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.