Marshall Wace LLP Reduces Stock Holdings in C3.ai, Inc. (NYSE:AI)

Marshall Wace LLP cut its holdings in C3.ai, Inc. (NYSE:AI) by 58.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 554,665 shares of the company’s stock after selling 792,424 shares during the period. Marshall Wace LLP’s holdings in C3.ai were worth $19,097,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Brown Lisle Cummings Inc. grew its position in shares of C3.ai by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock valued at $28,000 after purchasing an additional 400 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in C3.ai by 100.7% during the 4th quarter. Russell Investments Group Ltd. now owns 909 shares of the company’s stock valued at $31,000 after buying an additional 456 shares during the last quarter. Legal & General Group Plc increased its position in C3.ai by 0.4% during the fourth quarter. Legal & General Group Plc now owns 119,144 shares of the company’s stock worth $4,102,000 after buying an additional 517 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of C3.ai by 72.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,322 shares of the company’s stock worth $46,000 after acquiring an additional 555 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its position in shares of C3.ai by 2.4% in the fourth 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 in the last quarter. 38.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AI. Morgan Stanley dropped their price objective on C3.ai from $30.00 to $20.00 and set an “underweight” rating for the company in a research report on Wednesday. DA Davidson cut their price objective on shares of C3.ai from $25.00 to $18.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a research report on Thursday, February 27th. Piper Sandler lowered 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. Finally, Canaccord Genuity Group reduced their price target on C3.ai from $40.00 to $30.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $29.58.

C3.ai Trading Up 0.2 %

Shares of C3.ai stock opened at $19.38 on Friday. The business’s fifty day moving average price is $23.20 and its 200 day moving average price is $28.94. C3.ai, Inc. has a twelve month low of $17.03 and a twelve month high of $45.08. The stock has a market capitalization of $2.57 billion, a P/E ratio of -8.77 and a beta of 2.01.

C3.ai (NYSE:AI) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.37). The firm had revenue of $98.78 million during the quarter, compared to analyst estimates of $98.12 million. C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. As a group, sell-side analysts predict that C3.ai, Inc. will post -2.44 EPS for the current year.

Insider Transactions at C3.ai

In other news, CEO Thomas M. Siebel sold 552,422 shares of the company’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $33.04, for a total value of $18,252,022.88. Following the completion of the sale, the chief executive officer now owns 1,336,968 shares of the company’s stock, valued at $44,173,422.72. This represents a 29.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Merel Witteveen sold 1,133 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $22.25, for a total value of $25,209.25. Following the completion of the sale, the vice president now owns 7,287 shares of the company’s stock, valued at approximately $162,135.75. This trade represents a 13.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,446,967 shares of company stock valued at $37,175,326 over the last 90 days. Corporate insiders own 33.54% of the company’s stock.

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.