Algert Global LLC Has $1.25 Million Stock Position in C3.ai, Inc. (NYSE:AI)

Algert Global LLC cut its holdings in shares of C3.ai, Inc. (NYSE:AI) by 50.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,413 shares of the company’s stock after selling 36,523 shares during the period. Algert Global LLC’s holdings in C3.ai were worth $1,254,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brown Lisle Cummings Inc. boosted its position in 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 in the last quarter. R Squared Ltd acquired a new stake in shares of C3.ai during the 4th quarter valued at $29,000. Russell Investments Group Ltd. grew its position in C3.ai by 100.7% during the 4th quarter. Russell Investments Group Ltd. now owns 909 shares of the company’s stock worth $31,000 after acquiring an additional 456 shares during the last quarter. WealthTrak Capital Management LLC acquired a new position in C3.ai in the 4th quarter worth about $33,000. Finally, CENTRAL TRUST Co bought a new position in C3.ai in the fourth quarter valued at about $34,000. Institutional investors own 38.96% of the company’s stock.

Insiders Place Their Bets

In other C3.ai news, CEO Thomas M. Siebel sold 552,422 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $33.04, for a total value of $18,252,022.88. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Merel Witteveen sold 1,133 shares of the business’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $22.25, for a total transaction of $25,209.25. Following the sale, the vice president now directly owns 7,287 shares of the company’s stock, valued at approximately $162,135.75. The trade was a 13.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,461,977 shares of company stock worth $37,418,759. Corporate insiders own 33.54% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AI shares. KeyCorp lowered their price objective on C3.ai from $21.00 to $17.00 and set an “underweight” rating for the company in a research note on Thursday, April 17th. Canaccord Genuity Group dropped their price target on shares of C3.ai from $40.00 to $30.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Piper Sandler reduced their price objective on shares of C3.ai from $42.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Morgan Stanley lowered their target price on C3.ai from $30.00 to $20.00 and set an “underweight” rating for the company in a research report on Wednesday, April 16th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research report on Thursday, February 27th. Five research analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $29.58.

C3.ai Stock Down 0.5 %

Shares of AI stock opened at $23.36 on Friday. The firm has a 50 day moving average of $21.36 and a 200-day moving average of $28.54. The company has a market cap of $3.10 billion, a price-to-earnings ratio of -10.57 and a beta of 1.99. C3.ai, Inc. has a 52 week low of $17.03 and a 52 week high of $45.08.

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