Twinbeech Capital LP Purchases New Holdings in C3.ai, Inc. (NYSE:AI)

Twinbeech Capital LP acquired a new stake in shares of C3.ai, Inc. (NYSE:AI) in the 4th quarter, HoldingsChannel reports. The firm acquired 159,978 shares of the company’s stock, valued at approximately $5,508,000.

Other hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings 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 valued at $32,128,000 after acquiring an additional 88,750 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in C3.ai in the fourth quarter valued at about $3,996,000. Vanguard Group Inc. lifted its position in C3.ai by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 12,935,969 shares of the company’s stock valued at $445,385,000 after purchasing an additional 446,529 shares during the period. Janney Montgomery Scott LLC boosted its holdings in C3.ai by 70.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 55,339 shares of the company’s stock valued at $1,905,000 after purchasing an additional 22,949 shares in the last quarter. Finally, Strategic Financial Concepts LLC acquired a new position in C3.ai during the 4th quarter worth approximately $2,015,000. 38.96% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other C3.ai news, CEO Thomas M. Siebel sold 13,567 shares of the firm’s stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $19.47, for a total transaction of $264,149.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Merel Witteveen sold 5,719 shares of the business’s stock in a transaction on Monday, May 19th. The stock was sold at an average price of $23.32, for a total value of $133,367.08. Following the completion of the transaction, the vice president now directly owns 12,066 shares of the company’s stock, valued at approximately $281,379.12. This trade represents a 32.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,529,051 shares of company stock worth $34,028,030. Insiders own 33.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. KeyCorp cut their target price 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 objective on C3.ai from $40.00 to $30.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a report on Thursday, February 27th. Morgan Stanley decreased their target price on shares of C3.ai from $30.00 to $20.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 16th. Finally, Piper Sandler lowered their price target 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. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $29.58.

C3.ai Stock Performance

C3.ai stock opened at $23.13 on Wednesday. C3.ai, Inc. has a fifty-two week low of $17.03 and a fifty-two week high of $45.08. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of -10.47 and a beta of 1.99. The stock’s fifty day moving average is $21.65 and its two-hundred day moving average is $28.48.

C3.ai (NYSE:AI) last released 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 business had revenue of $98.78 million during 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%. As a group, sell-side analysts forecast that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

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.