Zuckerman Investment Group LLC Cuts Stock Holdings in C3.ai, Inc. (NYSE:AI)

Zuckerman Investment Group LLC lowered its stake in C3.ai, Inc. (NYSE:AI) by 22.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 10,300 shares of the company’s stock after selling 3,000 shares during the quarter. Zuckerman Investment Group LLC’s holdings in C3.ai were worth $355,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its holdings in C3.ai by 1,242.5% in the fourth quarter. Renaissance Technologies LLC now owns 718,231 shares of the company’s stock valued at $24,729,000 after acquiring an additional 664,731 shares during the last quarter. Vanguard Group Inc. increased its position in shares of C3.ai by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 12,935,969 shares of the company’s stock valued at $445,385,000 after acquiring an additional 446,529 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of C3.ai by 14.1% in the 4th quarter. Geode Capital Management LLC now owns 2,529,991 shares of the company’s stock valued at $87,128,000 after acquiring an additional 313,066 shares during the period. Norges Bank acquired a new position in shares of C3.ai in the 4th quarter worth approximately $9,271,000. Finally, Wellington Management Group LLP acquired a new stake in C3.ai in the 4th quarter valued at approximately $4,287,000. 38.96% of the stock is currently owned by institutional investors and hedge funds.

C3.ai Price Performance

Shares of AI stock opened at $21.09 on Thursday. C3.ai, Inc. has a 1 year low of $17.03 and a 1 year high of $45.08. The company has a market cap of $2.80 billion, a PE ratio of -9.54 and a beta of 2.01. The stock’s 50 day simple moving average is $25.09 and its two-hundred day simple moving average is $29.12.

C3.ai (NYSE:AI) last posted its 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). C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. The business had revenue of $98.78 million for the quarter, compared to analysts’ expectations of $98.12 million. Equities research analysts expect that C3.ai, Inc. will post -2.44 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AI. JPMorgan Chase & Co. lowered C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 target price on the stock. in a report on Wednesday, December 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a report on Thursday, February 27th. Canaccord Genuity Group decreased their target price on shares of C3.ai from $40.00 to $30.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. KeyCorp cut their price target on shares of C3.ai from $29.00 to $21.00 and set an “underweight” rating on the stock in a report on Thursday, February 27th. Finally, Piper Sandler decreased their price objective on shares of C3.ai from $42.00 to $28.00 and set a “neutral” rating for the company in a 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 given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $31.33.

Insiders Place Their Bets

In related news, CEO Thomas M. Siebel sold 409,831 shares of the business’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $30.97, for a total value of $12,692,466.07. Following the sale, the chief executive officer now directly owns 1,756,390 shares in the company, valued at approximately $54,395,398.30. The trade was a 18.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Merel Witteveen sold 1,133 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $22.25, for a total value of $25,209.25. Following the sale, the vice president now directly owns 7,287 shares in the company, valued at $162,135.75. This represents a 13.46 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,486,813 shares of company stock worth $42,407,563. 33.54% of the stock is 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.