C3.ai, Inc. (NYSE:AI) Shares Sold by PDT Partners LLC

PDT Partners LLC cut its holdings in C3.ai, Inc. (NYSE:AI) by 9.4% in the 4th quarter, HoldingsChannel reports. The fund owned 60,701 shares of the company’s stock after selling 6,311 shares during the period. PDT Partners LLC’s holdings in C3.ai were worth $2,090,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in AI. Northern Trust Corp grew its position in shares of C3.ai by 28.7% in the fourth quarter. Northern Trust Corp now owns 1,055,075 shares of the company’s stock valued at $36,326,000 after purchasing an additional 235,364 shares during the period. The Manufacturers Life Insurance Company boosted its stake in C3.ai by 13.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 60,725 shares of the company’s stock worth $2,091,000 after buying an additional 7,305 shares during the last quarter. Beacon Pointe Advisors LLC grew its holdings in C3.ai by 3.2% in the 4th quarter. Beacon Pointe Advisors LLC now owns 24,960 shares of the company’s stock valued at $859,000 after buying an additional 781 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of C3.ai during the 4th quarter valued at about $3,159,000. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of C3.ai during the 4th quarter worth about $263,000. Hedge funds and other institutional investors own 38.96% of the company’s stock.

C3.ai Stock Performance

AI stock opened at $22.50 on Wednesday. The firm has a market cap of $2.99 billion, a P/E ratio of -10.18 and a beta of 2.01. C3.ai, Inc. has a 1 year low of $17.03 and a 1 year high of $45.08. The stock has a 50-day simple moving average of $21.76 and a 200-day simple moving average of $28.76.

C3.ai (NYSE:AI) last issued 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 analyst estimates of $98.12 million. On average, equities research analysts predict that C3.ai, Inc. will post -2.44 EPS for the current year.

Insider Activity at C3.ai

In related news, Director Richard C. Levin sold 12,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $29.84, for a total value of $358,080.00. Following the sale, the director now directly owns 161,664 shares of the company’s stock, valued at $4,824,053.76. This represents a 6.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Thomas M. Siebel sold 552,422 shares of the firm’s 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 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 represents a 29.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,446,967 shares of company stock valued at $37,175,326. Insiders own 33.54% of the company’s stock.

Analysts Set New Price Targets

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

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.