Prudential Financial Inc. Makes New Investment in C3.ai, Inc. (NYSE:AI)

Prudential Financial Inc. bought a new stake in C3.ai, Inc. (NYSE:AI - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 78,990 shares of the company's stock, valued at approximately $2,720,000. Prudential Financial Inc. owned approximately 0.06% of C3.ai at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of AI. Brown Lisle Cummings Inc. grew its stake in C3.ai by 100.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company's stock worth $28,000 after purchasing an additional 400 shares in the last quarter. R Squared Ltd acquired a new stake in shares of C3.ai in the 4th quarter valued at $29,000. CENTRAL TRUST Co purchased a new stake in shares of C3.ai during the 4th quarter worth $34,000. Harvest Fund Management Co. Ltd purchased a new position in C3.ai in the fourth quarter valued at $36,000. Finally, Global Retirement Partners LLC raised its stake in C3.ai by 1,004.0% in the fourth quarter. Global Retirement Partners LLC now owns 1,115 shares of the company's stock valued at $38,000 after buying an additional 1,014 shares in the last quarter. 38.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at C3.ai

In other C3.ai news, CEO Thomas M. Siebel sold 409,831 shares of the stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $30.97, for a total value of $12,692,466.07. Following the completion of the transaction, the chief executive officer now directly owns 1,756,390 shares of the company's stock, valued at approximately $54,395,398.30. This trade represents a 18.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Richard C. Levin sold 12,000 shares of the business's 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 sale, the director now directly owns 161,664 shares in the company, valued at $4,824,053.76. This trade represents a 6.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,486,813 shares of company stock worth $42,407,563 over the last three months. 33.54% of the stock is currently owned by corporate insiders.

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Analyst Ratings Changes

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. downgraded C3.ai from a "neutral" rating to an "underweight" rating and set a $28.00 price objective on the stock. in a report on Wednesday, December 11th. JMP Securities raised their price objective on shares of C3.ai from $40.00 to $55.00 and gave the stock a "market outperform" rating in a report on Tuesday, December 10th. Canaccord Genuity Group dropped their target price on shares of 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 decreased 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. Finally, KeyCorp decreased their target price 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. 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 company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $31.33.

C3.ai Stock Performance

C3.ai stock traded down $1.00 during trading hours on Tuesday, reaching $18.15. 4,532,257 shares of the stock were exchanged, compared to its average volume of 5,255,694. 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 $2.41 billion, a P/E ratio of -8.21 and a beta of 2.01. The firm's 50 day moving average is $25.52 and its 200 day moving average is $29.20.

C3.ai (NYSE:AI - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.62) earnings per share (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 firm had revenue of $98.78 million for the quarter, compared to analysts' expectations of $98.12 million. Equities research analysts expect that C3.ai, Inc. will post -2.44 EPS for the current fiscal 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.