Voya Investment Management LLC Sells 759,474 Shares of C3.ai, Inc. (NYSE:AI)

Voya Investment Management LLC lessened its stake in shares of C3.ai, Inc. (NYSE:AI - Free Report) by 12.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,583,774 shares of the company's stock after selling 759,474 shares during the quarter. Voya Investment Management LLC owned about 4.33% of C3.ai worth $192,249,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in AI. Charles Schwab Investment Management Inc. grew its stake in C3.ai by 10.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 933,139 shares of the company's stock valued at $32,128,000 after acquiring an additional 88,750 shares during the period. SBI Securities Co. Ltd. acquired a new stake in C3.ai in the 4th quarter valued at $3,996,000. Vanguard Group Inc. increased its stake in C3.ai by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 12,935,969 shares of the company's stock valued at $445,385,000 after purchasing an additional 446,529 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in C3.ai by 70.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 55,339 shares of the company's stock worth $1,905,000 after buying an additional 22,949 shares during the last quarter. Finally, Strategic Financial Concepts LLC bought a new position in shares of C3.ai in the fourth quarter valued at $2,015,000. 38.96% of the stock is currently owned by institutional investors and hedge funds.

C3.ai Price Performance

Shares of NYSE AI traded down $0.05 during trading on Tuesday, reaching $22.53. 1,346,536 shares of the stock traded hands, compared to its average volume of 5,160,701. The stock has a market capitalization of $2.99 billion, a P/E ratio of -10.17 and a beta of 2.01. C3.ai, Inc. has a 52-week low of $17.03 and a 52-week high of $45.08. The company has a 50-day moving average of $21.91 and a 200-day moving average of $28.80.

C3.ai (NYSE:AI - Get Free Report) last issued its earnings results 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 return on equity of 31.31% and a negative net margin of 79.17%. The business had revenue of $98.78 million for the quarter, compared to the consensus estimate of $98.12 million. Analysts expect that C3.ai, Inc. will post -2.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on AI shares. Morgan Stanley lowered their price objective 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. DA Davidson reduced their target price on shares of C3.ai from $25.00 to $18.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Needham & Company LLC reissued a "hold" rating on shares of C3.ai in a research report on Thursday, February 27th. KeyCorp cut their price target on shares of C3.ai from $21.00 to $17.00 and set an "underweight" rating on the stock in a report on Thursday, April 17th. Finally, Piper Sandler dropped their target price on shares of C3.ai from $42.00 to $28.00 and set a "neutral" rating on the stock in a research 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 assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, C3.ai currently has an average rating of "Hold" and an average target price of $29.58.

Insider Activity at C3.ai

In other C3.ai news, CEO Thomas M. Siebel sold 552,422 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $33.04, for a total value of $18,252,022.88. Following the sale, the chief executive officer now directly owns 1,336,968 shares in the company, valued at $44,173,422.72. This represents a 29.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Thomas M. Siebel sold 13,567 shares of the business's stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $19.47, for a total transaction of $264,149.49. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,446,967 shares of company stock worth $37,175,326. 33.54% of the stock is owned by company insiders.

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.