Wellington Management Group LLP Acquires New Position in C3.ai, Inc. (NYSE:AI)

Wellington Management Group LLP bought a new stake in shares of C3.ai, Inc. (NYSE:AI - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 124,499 shares of the company's stock, valued at approximately $4,287,000. Wellington Management Group LLP owned about 0.10% of C3.ai as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of AI. Vanguard Group Inc. boosted its stake in shares of C3.ai by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 12,935,969 shares of the company's stock worth $445,385,000 after purchasing an additional 446,529 shares during the period. Norges Bank bought a new position in shares of C3.ai during the fourth quarter valued at approximately $9,271,000. Geode Capital Management LLC lifted its stake in shares of 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 acquiring an additional 178,870 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in C3.ai during the 4th quarter valued at $3,996,000. Finally, Raymond James Financial Inc. purchased a new stake in C3.ai in the fourth quarter worth $3,942,000. 38.96% of the stock is owned by hedge funds and other institutional investors.

C3.ai Trading Down 4.6 %

AI traded down $0.91 on Wednesday, hitting $19.06. 1,678,498 shares of the company were exchanged, compared to its average volume of 4,626,717. The firm has a 50-day moving average price of $24.05 and a two-hundred day moving average price of $29.02. The company has a market cap of $2.53 billion, a price-to-earnings ratio of -8.62 and a beta of 2.01. C3.ai, Inc. has a twelve month low of $17.03 and a twelve month high of $45.08.

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

Insider Transactions at C3.ai

In related news, Director Richard C. Levin sold 12,000 shares of the company's stock in a transaction on 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 $4,824,053.76. This represents a 6.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Merel Witteveen sold 1,133 shares of the business's stock in a transaction dated 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 in the company, valued at $162,135.75. This trade represents a 13.46 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,076,982 shares of company stock valued at $29,715,097. 33.54% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on AI. Needham & Company LLC reaffirmed a "hold" rating on shares of C3.ai in a research note on Thursday, February 27th. DA Davidson dropped their price objective on C3.ai from $25.00 to $18.00 and set a "neutral" rating on the stock in a research note on Monday. Morgan Stanley lowered their target price on C3.ai from $30.00 to $20.00 and set an "underweight" rating for the company in a report on Wednesday. KeyCorp decreased their price objective on C3.ai from $29.00 to $21.00 and set an "underweight" rating for the company in a report on Thursday, February 27th. Finally, Canaccord Genuity Group dropped their target price on shares of C3.ai from $40.00 to $30.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, C3.ai presently has a consensus rating of "Hold" and an average target price of $29.92.

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.