Tower Research Capital LLC TRC Cuts Position in C3.ai, Inc. (NYSE:AI)

Tower Research Capital LLC TRC lowered its holdings in C3.ai, Inc. (NYSE:AI - Free Report) by 86.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,695 shares of the company's stock after selling 17,748 shares during the quarter. Tower Research Capital LLC TRC's holdings in C3.ai were worth $93,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

AI has been the topic of several research analyst reports. DA Davidson cut their price objective on C3.ai from $25.00 to $18.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Piper Sandler cut their price target 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. Canaccord Genuity Group decreased their price objective on shares of C3.ai from $40.00 to $30.00 and set a "hold" rating for the company in a report on Thursday, February 27th. 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. Finally, Needham & Company LLC reissued a "hold" rating on shares of C3.ai in a report on Thursday, February 27th. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $29.58.

Insider Activity at C3.ai

In other C3.ai news, VP Merel Witteveen sold 1,133 shares of the business's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $22.25, for a total transaction of $25,209.25. Following the transaction, the vice president now directly owns 7,287 shares of the company's stock, valued at approximately $162,135.75. The trade was a 13.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas M. Siebel sold 27,010 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $22.27, for a total transaction of $601,512.70. Following the completion of the transaction, the chief executive officer now directly owns 26,115 shares of the company's stock, valued at approximately $581,581.05. The trade was a 50.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 909,555 shares of company stock valued at $19,166,736. Insiders own 33.54% of the company's stock.

C3.ai Price Performance

Shares of NYSE:AI traded down $0.36 on Thursday, hitting $23.52. The company's stock had a trading volume of 1,175,222 shares, compared to its average volume of 5,116,798. The company has a 50-day simple moving average of $21.46 and a 200 day simple moving average of $28.52. The company has a market capitalization of $3.12 billion, a PE ratio of -10.62 and a beta of 1.99. 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 released its 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). The firm had revenue of $98.78 million during the quarter, compared to the consensus estimate 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, equities research analysts expect that C3.ai, Inc. will post -2.44 earnings per share for the current fiscal 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.