C3.ai, Inc. (NYSE:AI) Shares Sold by Marshall Wace LLP

Marshall Wace LLP decreased its position in C3.ai, Inc. (NYSE:AI - Free Report) by 58.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 554,665 shares of the company's stock after selling 792,424 shares during the period. Marshall Wace LLP owned approximately 0.43% of C3.ai worth $19,097,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. XTX Topco Ltd acquired a new stake in shares of C3.ai in the 4th quarter valued at about $967,000. Mariner LLC boosted its holdings in shares of C3.ai by 5.6% in the fourth quarter. Mariner LLC now owns 23,717 shares of the company's stock worth $817,000 after acquiring an additional 1,262 shares during the period. Summit Investment Advisors Inc. lifted its holdings in shares of C3.ai by 35.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 11,574 shares of the company's stock worth $398,000 after buying an additional 3,005 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in shares of C3.ai by 712.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 201,823 shares of the company's stock valued at $6,949,000 after purchasing an additional 176,982 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of C3.ai during the 4th quarter valued at about $3,942,000. 38.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Thomas M. Siebel sold 13,567 shares of the firm's stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $19.47, for a total transaction of $264,149.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas M. Siebel sold 356,418 shares of C3.ai stock in a transaction on Monday, April 14th. The shares were sold at an average price of $20.19, for a total value of $7,196,079.42. Following the completion of the sale, the chief executive officer now directly owns 241,768 shares of the company's stock, valued at $4,881,295.92. The trade was a 59.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,446,967 shares of company stock worth $37,175,326 in the last ninety days. Company insiders own 33.54% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AI. Canaccord Genuity Group cut their price objective on C3.ai from $40.00 to $30.00 and set a "hold" rating for the company in a report on Thursday, February 27th. Piper Sandler decreased their price objective on C3.ai from $42.00 to $28.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. Needham & Company LLC reaffirmed a "hold" rating on shares of C3.ai in a research report on Thursday, February 27th. Morgan Stanley decreased their target price on shares of C3.ai from $30.00 to $20.00 and set an "underweight" rating for the company in a research note on Wednesday, April 16th. Finally, DA Davidson lowered 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, April 14th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, C3.ai currently has a consensus rating of "Hold" and an average price target of $29.58.

C3.ai Stock Up 2.9 %

Shares of C3.ai stock traded up $0.55 during trading on Tuesday, reaching $19.76. The company's stock had a trading volume of 1,639,017 shares, compared to its average volume of 5,184,628. The company has a 50-day simple moving average of $22.94 and a two-hundred day simple moving average of $28.95. C3.ai, Inc. has a 1-year low of $17.03 and a 1-year high of $45.08. The company has a market cap of $2.62 billion, a price-to-earnings ratio of -8.96 and a beta of 2.01.

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 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 for the quarter, compared to analyst estimates of $98.12 million. As a group, analysts anticipate that C3.ai, Inc. will post -2.44 earnings per share for the current year.

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.