Invesco Ltd. Has $11.42 Million Holdings in C3.ai, Inc. (NYSE:AI)

Invesco Ltd. lifted its stake in shares of C3.ai, Inc. (NYSE:AI - Free Report) by 9.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 331,767 shares of the company's stock after buying an additional 28,071 shares during the quarter. Invesco Ltd. owned about 0.26% of C3.ai worth $11,423,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Brown Lisle Cummings Inc. boosted its holdings 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 in the last quarter. R Squared Ltd bought a new position in shares of C3.ai in the 4th quarter worth $29,000. Russell Investments Group Ltd. grew its position in C3.ai by 100.7% in the 4th quarter. Russell Investments Group Ltd. now owns 909 shares of the company's stock valued at $31,000 after purchasing an additional 456 shares during the period. WealthTrak Capital Management LLC bought a new stake in C3.ai during the 4th quarter valued at $33,000. Finally, CENTRAL TRUST Co bought a new stake in C3.ai during the 4th quarter valued at $34,000. Institutional investors own 38.96% of the company's stock.

C3.ai Price Performance

NYSE AI opened at $19.84 on Wednesday. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of -8.98 and a beta of 2.01. The business's fifty day moving average is $22.68 and its 200-day moving average is $28.88. C3.ai, Inc. has a one year low of $17.03 and a one year high of $45.08.

C3.ai (NYSE:AI - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate 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 company had revenue of $98.78 million during the quarter, compared to the consensus estimate of $98.12 million. Research analysts expect that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Insider Activity at C3.ai

In other news, CEO Thomas M. Siebel sold 13,567 shares of C3.ai stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $19.47, for a total value of $264,149.49. The transaction 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 company's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $22.25, for a total transaction of $25,209.25. Following the sale, the vice president now owns 7,287 shares in the company, valued at $162,135.75. The trade was a 13.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,446,967 shares of company stock worth $37,175,326. Insiders own 33.54% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AI. DA Davidson reduced their price objective on shares of C3.ai from $25.00 to $18.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Canaccord Genuity Group cut their price target on C3.ai from $40.00 to $30.00 and set a "hold" rating for the company in a research note on Thursday, February 27th. Morgan Stanley lowered their price objective on C3.ai from $30.00 to $20.00 and set an "underweight" rating for the company in a research note on Wednesday, April 16th. Needham & Company LLC reaffirmed a "hold" rating on shares of C3.ai in a research report on Thursday, February 27th. Finally, Piper Sandler lowered their price target on C3.ai from $42.00 to $28.00 and set a "neutral" 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 assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, C3.ai presently has a consensus rating of "Hold" and an average 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.

Want to see what other hedge funds are holding AI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for C3.ai, Inc. (NYSE:AI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.