Twin Tree Management LP Invests $509,000 in C3.ai, Inc. (NYSE:AI)

Twin Tree Management LP bought a new stake in C3.ai, Inc. (NYSE:AI - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 14,771 shares of the company's stock, valued at approximately $509,000.

Other hedge funds have also bought and sold shares of the company. IMG Wealth Management Inc. bought a new stake in C3.ai in the 4th quarter valued at $78,000. Corient Private Wealth LLC boosted its holdings in shares of C3.ai by 2.4% during the 4th quarter. Corient Private Wealth LLC now owns 23,371 shares of the company's stock worth $805,000 after buying an additional 555 shares during the period. Commonwealth Equity Services LLC grew its stake in C3.ai by 11.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 49,891 shares of the company's stock valued at $1,718,000 after buying an additional 5,167 shares during the last quarter. Swiss National Bank boosted its holdings in shares of C3.ai by 2.6% during the fourth quarter. Swiss National Bank now owns 218,700 shares of the company's stock worth $7,530,000 after acquiring an additional 5,500 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of C3.ai by 33.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,148 shares of the company's stock valued at $1,107,000 after purchasing an additional 8,095 shares during the last quarter. 38.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on AI. 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. JMP Securities lifted 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 note on Tuesday, December 10th. Morgan Stanley cut their price objective on shares of C3.ai from $32.00 to $30.00 and set an "underweight" rating for the company in a report on Thursday, February 27th. DA Davidson lowered their target price on shares of C3.ai from $40.00 to $25.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Finally, JPMorgan Chase & Co. cut C3.ai from a "neutral" rating to an "underweight" rating and set a $28.00 price target for the company. in a research note on Wednesday, December 11th. 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. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $31.33.

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C3.ai Stock Performance

Shares of C3.ai stock traded up $0.27 during trading on Friday, reaching $22.65. 3,865,835 shares of the company's stock were exchanged, compared to its average volume of 5,239,226. C3.ai, Inc. has a 1-year low of $18.85 and a 1-year high of $45.08. The company has a market cap of $3.01 billion, a P/E ratio of -10.25 and a beta of 2.03. The firm's 50-day moving average price is $28.42 and its 200 day moving average price is $29.29.

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 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 analyst estimates of $98.12 million. As a group, equities research analysts predict that C3.ai, Inc. will post -2.44 EPS for the current year.

Insider Activity

In other news, CEO Thomas M. Siebel sold 216,974 shares of C3.ai stock in a transaction on Monday, March 17th. The shares were sold at an average price of $21.88, for a total transaction of $4,747,391.12. Following the transaction, the chief executive officer now owns 726,177 shares in the company, valued at approximately $15,888,752.76. The trade was a 23.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Merel Witteveen sold 11,132 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $34.95, for a total value of $389,063.40. Following the completion of the sale, the vice president now owns 4,142 shares of the company's stock, valued at $144,762.90. The trade was a 72.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,510,546 shares of company stock worth $43,235,262. Insiders own 33.54% of the company's stock.

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.