Renaissance Technologies LLC Boosts Holdings in C3.ai, Inc. (NYSE:AI)

Renaissance Technologies LLC grew its stake in shares of C3.ai, Inc. (NYSE:AI - Free Report) by 1,242.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 718,231 shares of the company's stock after buying an additional 664,731 shares during the quarter. Renaissance Technologies LLC owned approximately 0.56% of C3.ai worth $24,729,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Brown Lisle Cummings Inc. raised its position in C3.ai by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company's stock valued at $28,000 after purchasing an additional 400 shares during the last quarter. R Squared Ltd acquired a new stake in C3.ai during the 4th quarter worth approximately $29,000. Russell Investments Group Ltd. increased its position in C3.ai by 100.7% in the 4th quarter. Russell Investments Group Ltd. now owns 909 shares of the company's stock valued at $31,000 after acquiring an additional 456 shares during the period. WealthTrak Capital Management LLC acquired a new position in shares of C3.ai during the fourth quarter worth $33,000. Finally, CENTRAL TRUST Co bought a new stake in shares of C3.ai in the fourth quarter worth $34,000. 38.96% of the stock is currently owned by institutional investors.

C3.ai Trading Up 0.2 %

Shares of AI traded up $0.03 during trading hours on Friday, reaching $19.38. The stock had a trading volume of 2,348,902 shares, compared to its average volume of 5,202,811. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of -8.77 and a beta of 2.01. The firm has a 50-day simple moving average of $23.46 and a 200 day simple moving average of $28.92. C3.ai, Inc. has a 12 month low of $17.03 and a 12 month high of $45.08.

C3.ai (NYSE:AI - Get Free Report) last posted its earnings results 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 business had revenue of $98.78 million for the quarter, compared to the consensus estimate of $98.12 million. On average, equities analysts forecast that C3.ai, Inc. will post -2.44 EPS for the current year.

Insider Transactions at C3.ai

In other C3.ai news, Director Richard C. Levin sold 12,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $29.84, for a total value of $358,080.00. Following the completion of the sale, the director now owns 161,664 shares in the company, valued at approximately $4,824,053.76. This trade represents a 6.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Merel Witteveen sold 1,133 shares of the business's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $22.25, for a total value of $25,209.25. Following the completion of the transaction, the vice president now owns 7,287 shares in the company, valued at $162,135.75. The trade was a 13.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,446,967 shares of company stock valued at $37,175,326 over the last ninety days. 33.54% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have commented on AI. DA Davidson reduced their price target on C3.ai from $25.00 to $18.00 and set a "neutral" rating on the stock in a research report on Monday. Piper Sandler dropped their price target on shares of C3.ai from $42.00 to $28.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. Needham & Company LLC reiterated a "hold" rating on shares of C3.ai in a research report on Thursday, February 27th. Morgan Stanley cut their price target on shares of C3.ai from $30.00 to $20.00 and set an "underweight" rating on the stock in a research report on Wednesday. Finally, Canaccord Genuity Group cut their target price on C3.ai from $40.00 to $30.00 and set a "hold" rating on the stock in a research report on Thursday, February 27th. Five equities 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. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $29.58.

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.