Rhumbline Advisers Acquires 47,028 Shares of C3.ai, Inc. (NYSE:AI)

Rhumbline Advisers lifted its holdings in shares of C3.ai, Inc. (NYSE:AI) by 39.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 166,378 shares of the company’s stock after purchasing an additional 47,028 shares during the period. Rhumbline Advisers owned about 0.13% of C3.ai worth $5,728,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Brown Lisle Cummings Inc. raised its stake 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 buying an additional 400 shares during the period. Victory Capital Management Inc. raised its stake in C3.ai by 3.4% in the 3rd quarter. Victory Capital Management Inc. now owns 14,078 shares of the company’s stock valued at $341,000 after acquiring an additional 457 shares during the period. Geneos Wealth Management Inc. raised its stake in C3.ai by 72.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,322 shares of the company’s stock valued at $46,000 after acquiring an additional 555 shares during the period. Versor Investments LP lifted its holdings in C3.ai by 6.4% during the third quarter. Versor Investments LP now owns 12,800 shares of the company’s stock valued at $310,000 after purchasing an additional 770 shares during the last quarter. Finally, R Squared Ltd bought a new position in C3.ai during the fourth quarter worth about $29,000. 38.96% of the stock is owned by hedge funds and other institutional investors.

C3.ai Stock Performance

NYSE:AI opened at $26.43 on Thursday. C3.ai, Inc. has a fifty-two week low of $18.85 and a fifty-two week high of $45.08. The firm has a market cap of $3.41 billion, a PE ratio of -11.96 and a beta of 1.98. The business has a 50 day moving average price of $32.88 and a 200-day moving average price of $29.59.

C3.ai (NYSE:AI) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate 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%. Research analysts predict that C3.ai, Inc. will post -2.44 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. StockNews.com raised shares of C3.ai to a “sell” rating in a report on Tuesday, November 26th. Canaccord Genuity Group raised their price target on C3.ai from $23.00 to $40.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. Morgan Stanley boosted their price objective on C3.ai from $21.00 to $32.00 and gave the company an “underweight” rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. downgraded C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 target price for the company. in a research note on Wednesday, December 11th. Finally, JMP Securities increased their price target on shares of C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a report on Tuesday, December 10th. Five 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $35.00.

Insider Activity

In other C3.ai news, Director Stephen M. Ward, Jr. sold 125,000 shares of C3.ai stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $42.00, for a total transaction of $5,250,000.00. Following the transaction, the director now owns 546,495 shares of the company’s stock, valued at $22,952,790. The trade was a 18.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas M. Siebel sold 552,422 shares of the 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 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. This trade represents a 29.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,643,311 shares of company stock worth $59,736,620. Corporate insiders own 33.54% of the company’s stock.

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.