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

Raymond James Financial Inc. acquired a new stake in shares of C3.ai, Inc. (NYSE:AI - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 114,500 shares of the company's stock, valued at approximately $3,942,000. Raymond James Financial Inc. owned about 0.09% of C3.ai at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Renaissance Technologies LLC boosted its stake in C3.ai by 1,242.5% during the fourth quarter. Renaissance Technologies LLC now owns 718,231 shares of the company's stock valued at $24,729,000 after buying an additional 664,731 shares during the last quarter. Legal & General Group Plc boosted its position in shares of C3.ai by 0.4% during the 4th quarter. Legal & General Group Plc now owns 119,144 shares of the company's stock valued at $4,102,000 after acquiring an additional 517 shares during the last quarter. Invesco Ltd. increased its position in C3.ai by 9.2% in the fourth quarter. Invesco Ltd. now owns 331,767 shares of the company's stock worth $11,423,000 after purchasing an additional 28,071 shares during the last quarter. Russell Investments Group Ltd. raised its stake in C3.ai by 100.7% during the fourth quarter. Russell Investments Group Ltd. now owns 909 shares of the company's stock valued at $31,000 after purchasing an additional 456 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in C3.ai by 14.1% during the fourth quarter. Geode Capital Management LLC now owns 2,529,991 shares of the company's stock valued at $87,128,000 after purchasing an additional 313,066 shares during the last quarter. Hedge funds and other institutional investors own 38.96% of the company's stock.

Insider Activity at C3.ai

In other C3.ai news, Director Richard C. Levin sold 12,000 shares of the business's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $29.84, for a total transaction of $358,080.00. Following the sale, the director now owns 161,664 shares in the company, valued at approximately $4,824,053.76. The trade was a 6.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas M. Siebel sold 13,567 shares of the 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 disclosure for this sale can be found here. Insiders have sold 1,446,967 shares of company stock valued at $37,175,326 in the last ninety days. Corporate insiders own 33.54% of the company's stock.

C3.ai Stock Performance

Shares of NYSE:AI opened at $22.58 on Friday. The firm's 50 day simple moving average is $22.08 and its 200-day simple moving average is $28.82. C3.ai, Inc. has a one year low of $17.03 and a one year high of $45.08. The firm has a market cap of $3.00 billion, a PE ratio of -10.22 and a beta of 2.01.

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 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 predict that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on AI shares. Canaccord Genuity Group decreased 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 lowered their price objective on C3.ai from $42.00 to $28.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. Morgan Stanley cut their target price on C3.ai from $30.00 to $20.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 16th. Needham & Company LLC restated a "hold" rating on shares of C3.ai in a research report on Thursday, February 27th. Finally, KeyCorp reduced their target price on shares of C3.ai from $21.00 to $17.00 and set an "underweight" rating on the stock in a research note on Thursday, April 17th. Five investment analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target 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.

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