Wellington Management Group LLP Purchases Shares of 124,499 C3.ai, Inc. (NYSE:AI)

Wellington Management Group LLP bought a new position in shares of C3.ai, Inc. (NYSE:AI - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 124,499 shares of the company's stock, valued at approximately $4,287,000. Wellington Management Group LLP owned approximately 0.10% of C3.ai 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 AI. CIBC Private Wealth Group LLC grew its position in shares of C3.ai by 35.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,128 shares of the company's stock worth $71,000 after purchasing an additional 560 shares in the last quarter. WealthTrak Capital Management LLC acquired a new stake in shares of C3.ai in the 4th quarter valued at approximately $33,000. Level Four Advisory Services LLC grew its stake in shares of C3.ai by 6.7% during the fourth quarter. Level Four Advisory Services LLC now owns 25,188 shares of the company's stock worth $867,000 after buying an additional 1,576 shares during the last quarter. Pictet Asset Management Holding SA increased its holdings in C3.ai by 8.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 15,824 shares of the company's stock worth $545,000 after purchasing an additional 1,199 shares in the last quarter. Finally, Norges Bank bought a new position in C3.ai in the 4th quarter valued at approximately $9,271,000. Institutional investors and hedge funds own 38.96% of the company's stock.

Insider Buying and Selling

In other news, CEO Thomas M. Siebel sold 552,422 shares of the company's stock in a transaction 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 approximately $44,173,422.72. This represents a 29.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Thomas M. Siebel sold 13,567 shares of the stock in a transaction that occurred on Wednesday, April 16th. The stock was 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 quarter, insiders sold 1,446,967 shares of company stock valued at $37,175,326. Company insiders own 33.54% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Canaccord Genuity Group reduced their target price on C3.ai from $40.00 to $30.00 and set a "hold" rating for the company in a research note on Thursday, February 27th. 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 report on Monday. KeyCorp reduced their target price on shares of C3.ai from $21.00 to $17.00 and set an "underweight" rating for the company in a research note on Thursday. Piper Sandler cut their target price on C3.ai from $42.00 to $28.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. Finally, Morgan Stanley decreased their price target on shares of C3.ai from $30.00 to $20.00 and set an "underweight" rating on the stock in a report on Wednesday. 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 given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $29.58.

C3.ai Trading Down 0.4 %

C3.ai stock traded down $0.09 on Thursday, hitting $19.26. 679,938 shares of the stock traded hands, compared to its average volume of 5,195,755. C3.ai, Inc. has a 1 year low of $17.03 and a 1 year high of $45.08. The firm has a market cap of $2.56 billion, a P/E ratio of -8.74 and a beta of 2.01. The business's fifty day simple moving average is $23.77 and its 200 day simple moving average is $28.95.

C3.ai (NYSE:AI - Get Free Report) last announced 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 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 analysts' expectations of $98.12 million. As a group, analysts predict that C3.ai, Inc. will post -2.44 earnings per share for the current year.

C3.ai 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.