C3.ai, Inc. (NYSE:AI) Shares Sold by Dow Chemical Co. DE

Dow Chemical Co. DE cut its holdings in C3.ai, Inc. (NYSE:AI - Free Report) by 25.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 222,098 shares of the company's stock after selling 74,000 shares during the period. C3.ai accounts for about 1.3% of Dow Chemical Co. DE's portfolio, making the stock its 3rd largest holding. Dow Chemical Co. DE owned approximately 0.17% of C3.ai worth $7,647,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Brown Lisle Cummings Inc. increased its holdings in C3.ai by 100.0% in the 4th 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. lifted its stake in C3.ai by 100.7% during the 4th quarter. Russell Investments Group Ltd. now owns 909 shares of the company's stock worth $31,000 after acquiring an additional 456 shares in the last quarter. Legal & General Group Plc boosted its holdings in C3.ai by 0.4% during the 4th quarter. Legal & General Group Plc now owns 119,144 shares of the company's stock valued at $4,102,000 after acquiring an additional 517 shares during the period. Geneos Wealth Management Inc. increased its stake in C3.ai by 72.4% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,322 shares of the company's stock worth $46,000 after purchasing an additional 555 shares during the period. Finally, Corient Private Wealth LLC lifted its position in shares of C3.ai by 2.4% during the fourth quarter. Corient Private Wealth LLC now owns 23,371 shares of the company's stock worth $805,000 after purchasing an additional 555 shares in the last quarter. 38.96% of the stock is currently owned by hedge funds and other institutional investors.

C3.ai Price Performance

Shares of AI stock traded down $0.08 during trading hours on Monday, hitting $19.27. The stock had a trading volume of 2,851,674 shares, compared to its average volume of 5,198,569. The stock's 50 day moving average is $23.20 and its 200 day moving average is $28.98. The firm has a market capitalization of $2.56 billion, a PE ratio of -8.72 and a beta of 2.01. C3.ai, Inc. has a twelve month low of $17.03 and a twelve month high of $45.08.

C3.ai (NYSE:AI - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $98.12 million. As a group, equities analysts predict that C3.ai, Inc. will post -2.44 earnings per share for the current year.

Insider Transactions at C3.ai

In other C3.ai news, CEO Thomas M. Siebel sold 13,567 shares of C3.ai stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $19.47, for a total value of $264,149.49. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Richard C. Levin sold 12,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $29.84, for a total value of $358,080.00. Following the transaction, the director now directly owns 161,664 shares of the company's stock, valued at approximately $4,824,053.76. This trade represents a 6.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,446,967 shares of company stock worth $37,175,326 over the last 90 days. 33.54% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AI shares. Needham & Company LLC reiterated a "hold" rating on shares of C3.ai in a report on Thursday, February 27th. 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 report on Thursday, February 27th. Piper Sandler reduced their target price on shares of C3.ai from $42.00 to $28.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. DA Davidson reduced their price objective on shares of C3.ai from $25.00 to $18.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, Morgan Stanley dropped their target price on C3.ai from $30.00 to $20.00 and set an "underweight" rating on the stock in a report on Wednesday, April 16th. Five research analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $29.58.

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.