ExodusPoint Capital Management LP Reduces Holdings in C3.ai, Inc. (NYSE:AI)

ExodusPoint Capital Management LP trimmed its position in C3.ai, Inc. (NYSE:AI - Free Report) by 63.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,544 shares of the company's stock after selling 66,234 shares during the quarter. ExodusPoint Capital Management LP's holdings in C3.ai were worth $1,293,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in AI. Brown Lisle Cummings Inc. lifted its stake in C3.ai by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company's stock worth $28,000 after acquiring an additional 400 shares during the period. R Squared Ltd bought a new stake in shares of C3.ai in the 4th quarter valued at about $29,000. WealthTrak Capital Management LLC purchased a new stake in shares of C3.ai in the 4th quarter worth approximately $33,000. CENTRAL TRUST Co purchased a new stake in shares of C3.ai in the 4th quarter worth approximately $34,000. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of C3.ai during the fourth quarter valued at approximately $36,000. Institutional investors own 38.96% of the company's stock.

C3.ai Stock Performance

AI stock traded down $0.16 during midday trading on Tuesday, reaching $19.90. The stock had a trading volume of 778,410 shares, compared to its average volume of 5,226,282. The firm has a fifty day simple moving average of $24.33 and a two-hundred day simple moving average of $29.08. C3.ai, Inc. has a 52-week low of $17.03 and a 52-week high of $45.08. The stock has a market cap of $2.64 billion, a PE ratio of -9.00 and a beta of 2.01.

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C3.ai (NYSE:AI - Get Free Report) last released 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 return on equity of 31.31% and a negative net margin of 79.17%. The firm had revenue of $98.78 million for the quarter, compared to analyst estimates of $98.12 million. On average, sell-side analysts predict that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Piper Sandler reduced their price objective 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. KeyCorp reduced their price target on C3.ai from $29.00 to $21.00 and set an "underweight" rating for the company in a research report on Thursday, February 27th. DA Davidson dropped their price objective on C3.ai from $25.00 to $18.00 and set a "neutral" rating on the stock in a research report on Monday. Morgan Stanley cut their target price on C3.ai from $32.00 to $30.00 and set an "underweight" rating on the stock in a research note on Thursday, February 27th. Finally, Canaccord Genuity Group decreased their price target 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. Five research analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $30.75.

Insider Transactions at C3.ai

In related news, CEO Thomas M. Siebel sold 552,422 shares of C3.ai stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $33.04, for a total transaction of $18,252,022.88. Following the completion of the transaction, the chief executive officer now directly owns 1,336,968 shares in the company, valued at approximately $44,173,422.72. This trade represents a 29.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard C. Levin sold 12,000 shares of C3.ai stock in a transaction that occurred on Monday, February 3rd. The shares were 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 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 have sold 1,076,982 shares of company stock worth $29,715,097 over the last 90 days. 33.54% of the stock is currently owned by company insiders.

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.