Corient Private Wealth LLC Raises Stock Holdings in C3.ai, Inc. (NYSE:AI)

Corient Private Wealth LLC boosted its position in shares of C3.ai, Inc. (NYSE:AI) by 2.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 23,371 shares of the company’s stock after acquiring an additional 555 shares during the quarter. Corient Private Wealth LLC’s holdings in C3.ai were worth $805,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC boosted its position in C3.ai by 8.8% in the third quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company’s stock valued at $53,728,000 after buying an additional 178,870 shares during the last quarter. State Street Corp boosted its holdings in shares of C3.ai by 1.8% in the 3rd quarter. State Street Corp now owns 2,121,391 shares of the company’s stock valued at $51,401,000 after acquiring an additional 38,185 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of C3.ai by 10.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 933,139 shares of the company’s stock worth $32,128,000 after acquiring an additional 88,750 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of C3.ai by 1.3% during the fourth quarter. Bank of New York Mellon Corp now owns 695,893 shares of the company’s stock worth $23,960,000 after purchasing an additional 8,772 shares during the last quarter. Finally, Swiss National Bank lifted its position in C3.ai by 2.6% during the fourth quarter. Swiss National Bank now owns 218,700 shares of the company’s stock valued at $7,530,000 after purchasing an additional 5,500 shares during the period. 38.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity at C3.ai

In other news, CEO Thomas M. Siebel sold 294,116 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $21.50, for a total value of $6,323,494.00. Following the completion of the sale, the chief executive officer now directly owns 943,151 shares in the company, valued at $20,277,746.50. This represents a 23.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Merel Witteveen sold 11,132 shares of C3.ai stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $34.95, for a total value of $389,063.40. Following the transaction, the vice president now owns 4,142 shares in the company, valued at approximately $144,762.90. The trade was 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 valued at $43,235,262. 33.54% of the stock is owned by insiders.

C3.ai Stock Down 2.2 %

Shares of NYSE AI opened at $22.53 on Friday. C3.ai, Inc. has a 52-week low of $18.85 and a 52-week high of $45.08. The company’s 50-day simple moving average is $27.76 and its 200-day simple moving average is $29.31. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of -10.19 and a beta of 2.03.

C3.ai (NYSE:AI) last posted 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 firm had revenue of $98.78 million for the quarter, compared to analysts’ expectations of $98.12 million. C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. Equities research analysts anticipate that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

AI has been the topic of several analyst reports. Canaccord Genuity Group cut their price target on C3.ai from $40.00 to $30.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. DA Davidson reduced their price target on C3.ai from $40.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Piper Sandler decreased their price target on C3.ai from $42.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. JPMorgan Chase & Co. lowered shares of C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 target price for the company. in a report on Wednesday, December 11th. Finally, KeyCorp decreased their target price on shares of C3.ai from $29.00 to $21.00 and set an “underweight” rating for the company in a research note 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. According to MarketBeat.com, C3.ai presently has an average rating of “Hold” and an average price target of $31.33.

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.