Raymond James Financial Inc. Purchases New Holdings in C3.ai, Inc. (NYSE:AI)

Raymond James Financial Inc. acquired a new stake in C3.ai, Inc. (NYSE:AI - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 114,500 shares of the company's stock, valued at approximately $3,942,000. Raymond James Financial Inc. owned about 0.09% of C3.ai at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of 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 acquiring an additional 446,529 shares during the period. Geode Capital Management LLC boosted its holdings in shares of C3.ai by 14.1% in the 4th quarter. Geode Capital Management LLC now owns 2,529,991 shares of the company's stock valued at $87,128,000 after purchasing an additional 313,066 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of C3.ai by 10.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 933,139 shares of the company's stock valued at $32,128,000 after buying an additional 88,750 shares during the period. Renaissance Technologies LLC increased its holdings in shares of C3.ai by 1,242.5% during the 4th quarter. Renaissance Technologies LLC now owns 718,231 shares of the company's stock worth $24,729,000 after buying an additional 664,731 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of C3.ai by 1.3% in the 4th quarter. Bank of New York Mellon Corp now owns 695,893 shares of the company's stock worth $23,960,000 after buying an additional 8,772 shares during the period. Hedge funds and other institutional investors own 38.96% of the company's stock.

Insider Activity at C3.ai

In related news, CEO Thomas M. Siebel sold 13,567 shares of the firm's stock in a transaction dated 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 Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas M. Siebel sold 356,418 shares of C3.ai stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $20.19, for a total transaction of $7,196,079.42. Following the completion of the transaction, the chief executive officer now directly owns 241,768 shares in the company, valued at $4,881,295.92. This represents a 59.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,446,967 shares of company stock worth $37,175,326 in the last 90 days. Corporate insiders own 33.54% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on AI. KeyCorp lowered their price target on C3.ai from $21.00 to $17.00 and set an "underweight" rating for the company in a research report on Thursday, April 17th. Needham & Company LLC reissued a "hold" rating on shares of C3.ai in a research report on Thursday, February 27th. DA Davidson reduced their price target 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. Canaccord Genuity Group dropped their price objective on shares of C3.ai from $40.00 to $30.00 and set a "hold" rating for the company in a research report on Thursday, February 27th. Finally, Morgan Stanley reduced their target price on shares of C3.ai from $30.00 to $20.00 and set an "underweight" rating on the stock in a report on Wednesday, April 16th. Five investment analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, C3.ai has an average rating of "Hold" and an average price target of $29.58.

C3.ai Trading Down 2.3 %

AI stock traded down $0.51 during midday trading on Wednesday, hitting $22.00. 2,782,152 shares of the company's stock were exchanged, compared to its average volume of 5,163,215. The firm has a 50 day moving average price of $21.76 and a 200-day moving average price of $28.76. C3.ai, Inc. has a 12-month low of $17.03 and a 12-month high of $45.08. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of -9.95 and a beta of 2.01.

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

About C3.ai

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.