EVR Research LP Has $8.88 Million Stock Holdings in C3.ai, Inc. (NYSE:AI)

EVR Research LP lessened its stake in shares of C3.ai, Inc. (NYSE:AI - Free Report) by 33.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 257,900 shares of the company's stock after selling 129,600 shares during the period. C3.ai comprises about 3.0% of EVR Research LP's portfolio, making the stock its 15th largest holding. EVR Research LP owned 0.20% of C3.ai worth $8,879,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings 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 period. Geode Capital Management LLC grew its position in C3.ai by 14.1% during the 4th quarter. Geode Capital Management LLC now owns 2,529,991 shares of the company's stock worth $87,128,000 after purchasing an additional 313,066 shares in the last quarter. State Street Corp raised its stake in C3.ai by 1.8% during the 3rd quarter. State Street Corp now owns 2,121,391 shares of the company's stock valued at $51,401,000 after purchasing an additional 38,185 shares during the period. Charles Schwab Investment Management Inc. lifted 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 purchasing an additional 88,750 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of C3.ai by 1,242.5% in the fourth quarter. Renaissance Technologies LLC now owns 718,231 shares of the company's stock worth $24,729,000 after buying an additional 664,731 shares during the period. 38.96% of the stock is owned by institutional investors.

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Insider Transactions at C3.ai

In other C3.ai news, VP Merel Witteveen sold 1,133 shares of the business's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $22.25, for a total value of $25,209.25. Following the sale, the vice president now owns 7,287 shares of the company's stock, valued at $162,135.75. The trade was a 13.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Richard C. Levin sold 12,000 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $29.84, for a total transaction of $358,080.00. Following the transaction, the director now directly owns 161,664 shares of the company's stock, valued at $4,824,053.76. The trade was a 6.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,076,982 shares of company stock worth $29,715,097. 33.54% of the stock is currently owned by company insiders.

C3.ai Stock Performance

Shares of NYSE:AI traded down $0.03 during midday trading on Tuesday, hitting $20.03. The company's stock had a trading volume of 3,146,926 shares, compared to its average volume of 5,227,904. C3.ai, Inc. has a fifty-two week low of $17.03 and a fifty-two week high of $45.08. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of -9.06 and a beta of 2.01. The stock's 50 day simple moving average is $24.33 and its 200 day simple moving average is $29.08.

C3.ai (NYSE:AI - Get Free Report) last released its earnings results on Wednesday, February 26th. The company reported ($0.62) earnings per share (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 during the quarter, compared to analyst estimates of $98.12 million. As a group, analysts anticipate that C3.ai, Inc. will post -2.44 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on AI shares. DA Davidson reduced their price objective on C3.ai from $25.00 to $18.00 and set a "neutral" rating for the company in a research note on Monday. KeyCorp cut their target price on shares of C3.ai from $29.00 to $21.00 and set an "underweight" rating for the company in a research report on Thursday, February 27th. Morgan Stanley lowered their price target on shares of C3.ai from $32.00 to $30.00 and set an "underweight" rating on the stock in a report on Thursday, February 27th. Piper Sandler dropped their target price on C3.ai from $42.00 to $28.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. Finally, Needham & Company LLC restated a "hold" rating on shares of C3.ai in a report on Thursday, February 27th. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, C3.ai presently has an average rating of "Hold" and a consensus target price of $30.75.

C3.ai 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.