C3.ai, Inc. (NYSE:AI) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. cut its stake in C3.ai, Inc. (NYSE:AI) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,330,132 shares of the company’s stock after selling 147,242 shares during the quarter. Vanguard Group Inc. owned approximately 8.46% of C3.ai worth $296,578,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of AI. Orion Capital Management LLC acquired a new position in C3.ai in the third quarter valued at approximately $26,000. ICA Group Wealth Management LLC purchased a new stake in shares of C3.ai in the fourth quarter valued at approximately $29,000. GPS Wealth Strategies Group LLC increased its position in shares of C3.ai by 87.9% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 1,351 shares of the company’s stock valued at $39,000 after buying an additional 632 shares in the last quarter. Pittenger & Anderson Inc. purchased a new stake in shares of C3.ai in the fourth quarter valued at approximately $43,000. Finally, Optimum Investment Advisors increased its position in shares of C3.ai by 1,878.7% in the fourth quarter. Optimum Investment Advisors now owns 2,968 shares of the company’s stock valued at $85,000 after buying an additional 2,818 shares in the last quarter. 38.96% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Hitesh Lath sold 3,005 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $27.56, for a total value of $82,817.80. Following the transaction, the chief financial officer now owns 7,390 shares of the company’s stock, valued at approximately $203,668.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 34.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Morgan Stanley boosted their price objective on C3.ai from $21.00 to $23.00 and gave the company an “underweight” rating in a research report on Thursday, May 30th. Piper Sandler cut their price objective on C3.ai from $33.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, May 30th. Wedbush restated an “outperform” rating and issued a $40.00 price objective on shares of C3.ai in a research report on Wednesday, May 29th. Northland Capmk upgraded C3.ai from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 30th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research report on Thursday, May 30th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $31.30.

C3.ai Stock Performance

NYSE AI opened at $28.96 on Friday. The stock’s fifty day moving average is $26.41 and its two-hundred day moving average is $27.16. The firm has a market capitalization of $3.53 billion, a P/E ratio of -12.38 and a beta of 1.85. C3.ai, Inc. has a fifty-two week low of $20.23 and a fifty-two week high of $44.90.

C3.ai (NYSE:AI) last released its quarterly earnings data on Wednesday, May 29th. The company reported ($0.59) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.18. The company had revenue of $86.59 million for the quarter, compared to analyst estimates of $84.45 million. C3.ai had a negative return on equity of 30.95% and a negative net margin of 93.36%. As a group, sell-side analysts forecast that C3.ai, Inc. will post -2.35 EPS 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.