C3.ai, Inc. (NYSE:AI) Shares Sold by Sigma Planning Corp

Sigma Planning Corp cut its holdings in C3.ai, Inc. (NYSE:AI) by 69.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,828 shares of the company’s stock after selling 28,593 shares during the quarter. Sigma Planning Corp’s holdings in C3.ai were worth $368,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of AI. Daiwa Securities Group Inc. boosted its holdings in shares of C3.ai by 2.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 28,478 shares of the company’s stock valued at $818,000 after acquiring an additional 811 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of C3.ai by 43.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,374 shares of the company’s stock valued at $614,000 after acquiring an additional 6,491 shares in the last quarter. Perigon Wealth Management LLC boosted its holdings in shares of C3.ai by 1.2% in the fourth quarter. Perigon Wealth Management LLC now owns 188,634 shares of the company’s stock valued at $5,416,000 after acquiring an additional 2,200 shares in the last quarter. Cerity Partners LLC purchased a new stake in shares of C3.ai in the fourth quarter valued at about $455,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of C3.ai in the fourth quarter valued at about $25,630,000. 38.96% of the stock is currently owned by institutional investors and hedge funds.

C3.ai Price Performance

Shares of NYSE AI opened at $22.83 on Friday. C3.ai, Inc. has a 12-month low of $16.79 and a 12-month high of $48.87. The company has a market capitalization of $2.79 billion, a PE ratio of -9.80 and a beta of 1.70. The firm’s 50-day moving average is $26.96 and its two-hundred day moving average is $27.29.

C3.ai (NYSE:AI) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.73) by $0.13. The company had revenue of $78.40 million for the quarter, compared to the consensus estimate of $75.92 million. C3.ai had a negative net margin of 95.21% and a negative return on equity of 29.60%. On average, analysts forecast that C3.ai, Inc. will post -2.48 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AI has been the topic of a number of research analyst reports. Bank of America boosted their price objective on shares of C3.ai from $18.00 to $20.00 and gave the stock an “underperform” rating in a report on Thursday, February 29th. Piper Sandler boosted their price objective on shares of C3.ai from $27.00 to $33.00 and gave the stock a “neutral” rating in a report on Monday, March 4th. Wedbush decreased their price objective on shares of C3.ai from $42.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, February 29th. Finally, Canaccord Genuity Group boosted their price objective on shares of C3.ai from $27.00 to $31.00 and gave the stock a “hold” rating in a report on Thursday, February 29th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $31.50.

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.