C3.ai, Inc. (NYSE:AI) Shares Purchased by Northern Trust Corp

Northern Trust Corp raised its holdings in C3.ai, Inc. (NYSE:AI - Free Report) by 28.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,055,075 shares of the company's stock after buying an additional 235,364 shares during the period. Northern Trust Corp owned about 0.82% of C3.ai worth $36,326,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. The Manufacturers Life Insurance Company increased its position in shares of C3.ai by 13.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 60,725 shares of the company's stock worth $2,091,000 after purchasing an additional 7,305 shares in the last quarter. Beacon Pointe Advisors LLC lifted its stake in shares of C3.ai by 3.2% in the 4th quarter. Beacon Pointe Advisors LLC now owns 24,960 shares of the company's stock worth $859,000 after acquiring an additional 781 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in C3.ai in the 4th quarter valued at approximately $3,159,000. Integrated Wealth Concepts LLC acquired a new position in C3.ai during the 4th quarter worth approximately $263,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of C3.ai by 40.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 79,251 shares of the company's stock valued at $2,729,000 after buying an additional 22,881 shares during the period. 38.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on AI shares. Canaccord Genuity Group cut their price objective on C3.ai from $40.00 to $30.00 and set a "hold" rating for the company in a research report on Thursday, February 27th. DA Davidson lowered their target price on shares of C3.ai from $25.00 to $18.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. 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. Needham & Company LLC restated a "hold" rating on shares of C3.ai in a research report on Thursday, February 27th. Finally, KeyCorp reduced their target price 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. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $29.58.

Insider Buying and Selling

In other C3.ai news, CEO Thomas M. Siebel sold 27,010 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $22.27, for a total transaction of $601,512.70. Following the sale, the chief executive officer now directly owns 26,115 shares of the company's stock, valued at approximately $581,581.05. This represents a 50.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Merel Witteveen sold 1,133 shares of the firm's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $22.25, for a total transaction of $25,209.25. Following the completion of the transaction, the vice president now owns 7,287 shares in the company, valued at approximately $162,135.75. The trade was a 13.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 909,555 shares of company stock worth $19,166,736. Corporate insiders own 33.54% of the company's stock.

C3.ai Stock Down 0.9%

Shares of NYSE AI traded down $0.22 on Tuesday, hitting $23.98. The company had a trading volume of 4,731,350 shares, compared to its average volume of 5,141,232. C3.ai, Inc. has a 12-month low of $17.03 and a 12-month high of $45.08. The firm has a market capitalization of $3.18 billion, a P/E ratio of -10.85 and a beta of 1.99. The business has a 50 day moving average of $21.39 and a two-hundred day moving average of $28.59.

C3.ai (NYSE:AI - Get Free Report) last issued its quarterly 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). C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. The business had revenue of $98.78 million during the quarter, compared to analysts' expectations of $98.12 million. On average, sell-side analysts anticipate that C3.ai, Inc. will post -2.44 earnings per share for the current year.

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.