C3.ai, Inc. (NYSE:AI) Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund raised its holdings in C3.ai, Inc. (NYSE:AI) by 9.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,896 shares of the company’s stock after purchasing an additional 2,600 shares during the period. New York State Common Retirement Fund’s holdings in C3.ai were worth $1,064,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Brown Lisle Cummings Inc. boosted 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 worth $28,000 after acquiring an additional 400 shares during the last quarter. R Squared Ltd acquired a new stake in shares of C3.ai in the fourth quarter worth approximately $29,000. CENTRAL TRUST Co acquired a new stake in shares of C3.ai in the fourth quarter worth approximately $34,000. Quest Partners LLC boosted its stake in shares of C3.ai by 9,033.3% in the third quarter. Quest Partners LLC now owns 1,644 shares of the company’s stock worth $40,000 after acquiring an additional 1,626 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in 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 buying an additional 555 shares in the last quarter. 38.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AI has been the topic of a number of analyst reports. KeyCorp reduced their price objective on C3.ai from $29.00 to $21.00 and set an “underweight” rating on the stock in a research report on Thursday, February 27th. DA Davidson reduced their price objective on 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 reiterated a “hold” rating on shares of C3.ai in a research report on Thursday, February 27th. StockNews.com upgraded C3.ai to a “sell” rating in a research report on Tuesday, November 26th. Finally, Piper Sandler reduced their target price 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 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $31.33.

Insider Buying and Selling

In other news, Director Richard C. Levin sold 12,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $29.84, for a total transaction of $358,080.00. Following the completion of the transaction, the director now directly owns 161,664 shares of the company’s stock, valued at approximately $4,824,053.76. This represents a 6.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jim H. Snabe sold 499,700 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $43.05, for a total value of $21,512,085.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $430,500. This represents a 98.04 % 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 in the last three months. 33.54% of the stock is owned by corporate insiders.

C3.ai Trading Down 6.0 %

AI stock opened at $22.05 on Tuesday. The company has a market capitalization of $2.85 billion, a PE ratio of -9.98 and a beta of 1.98. C3.ai, Inc. has a 12-month low of $18.85 and a 12-month high of $45.08. The business’s fifty day moving average price is $32.13 and its 200 day moving average price is $29.58.

C3.ai (NYSE:AI) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.62) earnings per share (EPS) 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%. The firm had revenue of $98.78 million during the quarter, compared to analysts’ expectations of $98.12 million. Research analysts predict that C3.ai, Inc. will post -2.44 EPS for the current fiscal 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.