7,927 Shares in C3.ai, Inc. (NYSE:AI) Purchased by Xponance Inc.

Xponance Inc. acquired a new stake in C3.ai, Inc. (NYSE:AI) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,927 shares of the company’s stock, valued at approximately $273,000.

A number of other hedge funds also recently made changes to their positions in AI. Brown Lisle Cummings Inc. boosted its holdings in shares of C3.ai by 100.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock worth $28,000 after buying an additional 400 shares during the period. Victory Capital Management Inc. lifted its position in C3.ai by 3.4% during the third quarter. Victory Capital Management Inc. now owns 14,078 shares of the company’s stock worth $341,000 after acquiring an additional 457 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of C3.ai by 72.4% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,322 shares of the company’s stock worth $46,000 after acquiring an additional 555 shares during the period. Corient Private Wealth LLC grew its position in shares of C3.ai by 2.4% in the fourth quarter. Corient Private Wealth LLC now owns 23,371 shares of the company’s stock valued at $805,000 after purchasing an additional 555 shares during the last quarter. Finally, Arizona State Retirement System increased its stake in shares of C3.ai by 2.6% during the fourth quarter. Arizona State Retirement System now owns 32,265 shares of the company’s stock worth $1,111,000 after purchasing an additional 826 shares during the period. 38.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Thomas M. Siebel sold 216,974 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $21.88, for a total transaction of $4,747,391.12. Following the completion of the transaction, the chief executive officer now owns 726,177 shares of the company’s stock, valued at approximately $15,888,752.76. This trade represents a 23.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Merel Witteveen sold 11,132 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $34.95, for a total transaction of $389,063.40. Following the completion of the sale, the vice president now directly owns 4,142 shares in the company, valued at approximately $144,762.90. This represents a 72.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,510,546 shares of company stock worth $43,235,262. Insiders own 33.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. JMP Securities upped their price objective on C3.ai from $40.00 to $55.00 and gave the company a “market outperform” rating in a report on Tuesday, December 10th. DA Davidson lowered their price target on shares of C3.ai from $40.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a report on Thursday, February 27th. Morgan Stanley lowered their target price on shares of C3.ai from $32.00 to $30.00 and set an “underweight” rating on the stock in a report on Thursday, February 27th. Finally, Piper Sandler reduced their price target on 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 investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $31.33.

C3.ai Stock Down 2.2 %

C3.ai stock opened at $22.53 on Friday. The stock has a market cap of $2.99 billion, a PE ratio of -10.19 and a beta of 2.03. C3.ai, Inc. has a 12-month low of $18.85 and a 12-month high of $45.08. The business’s 50-day moving average price is $27.76 and its two-hundred day moving average price is $29.31.

C3.ai (NYSE:AI) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.37). The company 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%. As a group, analysts expect 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.