Private Advisor Group LLC Sells 15,955 Shares of C3.ai, Inc. (NYSE:AI)

Private Advisor Group LLC trimmed its position in C3.ai, Inc. (NYSE:AI - Free Report) by 52.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,749 shares of the company's stock after selling 15,955 shares during the period. Private Advisor Group LLC's holdings in C3.ai were worth $508,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Geode Capital Management LLC increased its stake in shares of C3.ai by 8.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company's stock worth $53,728,000 after purchasing an additional 178,870 shares in the last quarter. State Street Corp increased its position in C3.ai by 1.8% in the third quarter. State Street Corp now owns 2,121,391 shares of the company's stock worth $51,401,000 after buying an additional 38,185 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of C3.ai by 12.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company's stock worth $20,460,000 after buying an additional 92,280 shares during the period. Rhumbline Advisers lifted its position in shares of C3.ai by 39.4% during the 4th quarter. Rhumbline Advisers now owns 166,378 shares of the company's stock valued at $5,728,000 after buying an additional 47,028 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D grew its stake in shares of C3.ai by 4.8% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 81,461 shares of the company's stock valued at $1,974,000 after acquiring an additional 3,708 shares during the period. 38.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AI has been the topic of several analyst reports. StockNews.com raised shares of C3.ai to a "sell" rating in a report on Tuesday, November 26th. JPMorgan Chase & Co. cut shares of C3.ai from a "neutral" rating to an "underweight" rating and set a $28.00 target price on the stock. in a research note on Wednesday, December 11th. Northland Securities increased their price target on C3.ai from $35.00 to $45.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 10th. Piper Sandler lowered their price objective 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 reiterated a "hold" rating on shares of C3.ai in a research report on Thursday, February 27th. Five 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 given a strong buy rating to the company's stock. According to MarketBeat, C3.ai currently has an average rating of "Hold" and a consensus target price of $31.33.

Insiders Place Their Bets

In other C3.ai news, CFO Hitesh Lath sold 3,949 shares of C3.ai stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $42.36, for a total transaction of $167,279.64. Following the completion of the transaction, the chief financial officer now directly owns 851 shares of the company's stock, valued at $36,048.36. The trade was a 82.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas M. Siebel sold 409,831 shares of the stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $30.97, for a total transaction of $12,692,466.07. Following the completion of the sale, the chief executive officer now directly owns 1,756,390 shares in the company, valued at approximately $54,395,398.30. This represents a 18.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,643,311 shares of company stock valued at $59,736,620 over the last ninety days. 33.54% of the stock is owned by insiders.

C3.ai Price Performance

Shares of NYSE AI traded down $1.12 during midday trading on Thursday, reaching $21.53. 4,610,564 shares of the stock traded hands, compared to its average volume of 5,216,979. The company's 50 day moving average is $31.59 and its 200 day moving average is $29.51. C3.ai, Inc. has a one year low of $18.85 and a one year high of $45.08. The stock has a market capitalization of $2.78 billion, a PE ratio of -9.74 and a beta of 1.98.

C3.ai (NYSE:AI - Get Free Report) last released 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 net margin of 79.17% and a negative return on equity of 31.31%. The business had revenue of $98.78 million for the quarter, compared to the consensus estimate of $98.12 million. As a group, equities analysts forecast that C3.ai, Inc. will post -2.44 EPS for the current year.

C3.ai Company 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.