Private Advisor Group LLC Sells 15,955 Shares of C3.ai, Inc. (NYSE:AI)

Private Advisor Group LLC trimmed its holdings in C3.ai, Inc. (NYSE:AI) by 52.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,749 shares of the company’s stock after selling 15,955 shares during the quarter. Private Advisor Group LLC’s holdings in C3.ai were worth $508,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Brown Lisle Cummings Inc. boosted its position in shares of C3.ai by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock valued at $28,000 after acquiring an additional 400 shares during the period. R Squared Ltd bought a new position in C3.ai in the fourth quarter worth $29,000. CENTRAL TRUST Co bought a new position in C3.ai in the fourth quarter worth $34,000. Global Retirement Partners LLC lifted its position in C3.ai by 1,004.0% in the fourth quarter. Global Retirement Partners LLC now owns 1,115 shares of the company’s stock worth $38,000 after purchasing an additional 1,014 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in C3.ai by 72.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,322 shares of the company’s stock worth $46,000 after purchasing an additional 555 shares during the period. 38.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on AI shares. Northland Securities raised their target price on C3.ai from $35.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Morgan Stanley reduced their target price on C3.ai from $32.00 to $30.00 and set an “underweight” rating for the company in a research report on Thursday, February 27th. JPMorgan Chase & Co. cut C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 target price for the company. in a research report on Wednesday, December 11th. StockNews.com raised C3.ai to a “sell” rating in a research report on Tuesday, November 26th. Finally, JMP Securities raised their target price on C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a research report on Tuesday, December 10th. Five equities research analysts have rated the stock with a sell rating, five have given 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 stock currently has a consensus rating of “Hold” and an average price target of $31.33.

Insider Activity at C3.ai

In other C3.ai news, CEO Thomas M. Siebel sold 552,422 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 1,336,968 shares of the company’s stock, valued at approximately $44,173,422.72. The trade was a 29.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Stephen M. Ward, Jr. sold 125,000 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $42.00, for a total value of $5,250,000.00. Following the sale, the director now directly owns 546,495 shares of the company’s stock, valued at $22,952,790. This represents a 18.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,643,311 shares of company stock valued at $59,736,620 over the last ninety days. 33.54% of the stock is owned by insiders.

C3.ai Stock Down 6.0 %

C3.ai stock opened at $22.05 on Tuesday. The stock has a 50-day simple moving average of $32.13 and a 200 day simple moving average of $29.58. C3.ai, Inc. has a 12-month low of $18.85 and a 12-month high of $45.08. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of -9.98 and a beta of 1.98.

C3.ai (NYSE:AI) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.37). C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. The business had revenue of $98.78 million during the quarter, compared to the consensus estimate of $98.12 million. As a group, sell-side analysts anticipate that C3.ai, Inc. will post -2.44 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.