Voya Investment Management LLC Has $192.25 Million Position in C3.ai, Inc. (NYSE:AI)

Voya Investment Management LLC lowered its stake in shares of C3.ai, Inc. (NYSE:AI - Free Report) by 12.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,583,774 shares of the company's stock after selling 759,474 shares during the quarter. Voya Investment Management LLC owned approximately 4.33% of C3.ai worth $192,249,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brown Lisle Cummings Inc. boosted 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 valued at $28,000 after acquiring an additional 400 shares during the last quarter. R Squared Ltd acquired a new stake in shares of C3.ai in the 4th quarter valued at about $29,000. Russell Investments Group Ltd. lifted its position in shares of C3.ai by 100.7% during the fourth quarter. Russell Investments Group Ltd. now owns 909 shares of the company's stock worth $31,000 after purchasing an additional 456 shares during the last quarter. WealthTrak Capital Management LLC acquired a new position in C3.ai in the fourth quarter worth about $33,000. Finally, CENTRAL TRUST Co bought a new stake in C3.ai in the fourth quarter valued at about $34,000. Institutional investors own 38.96% of the company's stock.

Insider Buying and Selling at C3.ai

In related news, VP Merel Witteveen sold 1,133 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The shares were 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 of the company's stock, valued at approximately $162,135.75. This trade represents a 13.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard C. Levin sold 12,000 shares of the firm's stock in a transaction 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 completion of the sale, the director now directly owns 161,664 shares of the company's stock, valued at approximately $4,824,053.76. This trade represents a 6.91 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,446,967 shares of company stock valued at $37,175,326. 33.54% of the stock is owned by insiders.

C3.ai Stock Up 2.5 %

C3.ai stock traded up $0.56 during trading hours on Friday, hitting $22.58. 3,293,400 shares of the company traded hands, compared to its average volume of 5,184,075. C3.ai, Inc. has a 1-year low of $17.03 and a 1-year high of $45.08. The firm has a market cap of $3.00 billion, a P/E ratio of -10.22 and a beta of 2.01. The firm's 50-day simple moving average is $22.08 and its two-hundred day simple moving average is $28.82.

C3.ai (NYSE:AI - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.37). C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. The firm had revenue of $98.78 million for the quarter, compared to the consensus estimate of $98.12 million. On average, equities research analysts predict that C3.ai, Inc. will post -2.44 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on AI shares. DA Davidson reduced their target price on C3.ai from $25.00 to $18.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Needham & Company LLC reaffirmed a "hold" rating on shares of C3.ai in a report on Thursday, February 27th. KeyCorp dropped their target price on shares of C3.ai from $21.00 to $17.00 and set an "underweight" rating on the stock in a report on Thursday, April 17th. Morgan Stanley lowered their price objective on shares of C3.ai from $30.00 to $20.00 and set an "underweight" rating for the company in a research report on Wednesday, April 16th. Finally, Piper Sandler cut their target price on shares of C3.ai from $42.00 to $28.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average 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.