Intech Investment Management LLC Acquires 14,910 Shares of C3.ai, Inc. (NYSE:AI)

Intech Investment Management LLC lifted its holdings in C3.ai, Inc. (NYSE:AI) by 42.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,372 shares of the company’s stock after purchasing an additional 14,910 shares during the quarter. Intech Investment Management LLC’s holdings in C3.ai were worth $1,734,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Brown Lisle Cummings Inc. increased its position in shares of C3.ai by 100.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock worth $28,000 after purchasing an additional 400 shares during the last quarter. Victory Capital Management Inc. raised its position in C3.ai by 3.4% during the third quarter. Victory Capital Management Inc. now owns 14,078 shares of the company’s stock worth $341,000 after acquiring an additional 457 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in C3.ai by 72.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,322 shares of the company’s stock valued at $46,000 after acquiring an additional 555 shares during the last quarter. Corient Private Wealth LLC grew its position in shares of C3.ai by 2.4% in the 4th quarter. Corient Private Wealth LLC now owns 23,371 shares of the company’s stock valued at $805,000 after acquiring an additional 555 shares during the period. Finally, Arizona State Retirement System increased its stake in shares of C3.ai by 2.6% during the 4th quarter. Arizona State Retirement System now owns 32,265 shares of the company’s stock worth $1,111,000 after purchasing an additional 826 shares during the last quarter. Institutional investors and hedge funds own 38.96% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on AI. Piper Sandler cut their target price 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. Northland Securities boosted their target price on C3.ai from $35.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. KeyCorp cut their price target on C3.ai from $29.00 to $21.00 and set an “underweight” rating for the company in a report on Thursday, February 27th. StockNews.com upgraded shares of C3.ai to a “sell” rating in a report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. cut shares of C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 target price for the company. in a research note on Wednesday, December 11th. Five 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 given a strong buy rating to the company. Based on data from MarketBeat, C3.ai currently has a consensus rating of “Hold” and an average price target of $31.33.

C3.ai Price Performance

C3.ai stock opened at $22.65 on Friday. The firm has a market cap of $3.01 billion, a PE ratio of -10.25 and a beta of 2.03. The stock’s fifty day moving average price is $28.42 and its two-hundred day moving average price is $29.29. C3.ai, Inc. has a one year low of $18.85 and a one year high of $45.08.

C3.ai (NYSE:AI) last issued 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 the consensus estimate of $98.12 million. C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. Sell-side analysts expect that C3.ai, Inc. will post -2.44 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Thomas M. Siebel sold 294,116 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $21.50, for a total transaction 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Merel Witteveen sold 11,132 shares of C3.ai stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $34.95, for a total value of $389,063.40. Following the completion of the transaction, the vice president now owns 4,142 shares in the company, valued at approximately $144,762.90. This represents 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 worth $43,235,262. 33.54% of the stock is currently owned by corporate insiders.

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.