Raymond James Financial Inc. Invests $3.94 Million in C3.ai, Inc. (NYSE:AI)

Raymond James Financial Inc. acquired a new position in C3.ai, Inc. (NYSE:AI - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 114,500 shares of the company's stock, valued at approximately $3,942,000. Raymond James Financial Inc. owned 0.09% of C3.ai at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AI. Geode Capital Management LLC grew its stake in C3.ai by 8.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company's stock worth $53,728,000 after buying an additional 178,870 shares during the last quarter. State Street Corp lifted its stake in shares of C3.ai by 1.8% in the 3rd quarter. State Street Corp now owns 2,121,391 shares of the company's stock valued at $51,401,000 after purchasing an additional 38,185 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of C3.ai by 10.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 933,139 shares of the company's stock valued at $32,128,000 after purchasing an additional 88,750 shares during the period. Bank of New York Mellon Corp boosted its holdings in C3.ai by 1.3% during the fourth quarter. Bank of New York Mellon Corp now owns 695,893 shares of the company's stock worth $23,960,000 after buying an additional 8,772 shares in the last quarter. Finally, Rhumbline Advisers grew its position in C3.ai by 39.4% during the fourth 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 during the period. Institutional investors own 38.96% of the company's stock.

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Wall Street Analyst Weigh In

AI has been the topic of several recent analyst reports. Piper Sandler lowered their target price on shares of C3.ai from $42.00 to $28.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. KeyCorp lowered their price target on C3.ai from $29.00 to $21.00 and set an "underweight" rating on the stock in a research report on Thursday, February 27th. Morgan Stanley cut their price objective on C3.ai from $32.00 to $30.00 and set an "underweight" rating for the company in a research report on Thursday, February 27th. Canaccord Genuity Group dropped their price target on shares of C3.ai from $40.00 to $30.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. Finally, JMP Securities upped their price objective on shares of C3.ai from $40.00 to $55.00 and gave the stock a "market outperform" rating in a research report on Tuesday, December 10th. Five research analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $31.33.

Insider Buying and Selling

In related news, Director Richard C. Levin sold 12,000 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $34.80, for a total transaction of $417,600.00. Following the sale, the director now directly owns 161,664 shares of the company's stock, valued at $5,625,907.20. This represents a 6.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 value of $12,692,466.07. Following the completion of the sale, the chief executive officer now owns 1,756,390 shares in the company, valued at approximately $54,395,398.30. The trade was a 18.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,510,546 shares of company stock worth $43,235,262. Company insiders own 33.54% of the company's stock.

C3.ai Stock Down 3.2 %

AI traded down $0.72 during trading on Friday, reaching $21.81. The company's stock had a trading volume of 4,322,593 shares, compared to its average volume of 5,258,350. The company has a market cap of $2.89 billion, a price-to-earnings ratio of -9.87 and a beta of 2.03. The firm has a fifty day simple moving average of $27.55 and a two-hundred day simple moving average of $29.43. C3.ai, Inc. has a 1 year low of $18.85 and a 1 year high of $45.08.

C3.ai (NYSE:AI - Get Free Report) last issued 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 analysts' expectations of $98.12 million. As a group, equities analysts forecast that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

C3.ai 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.