C3.ai, Inc. (NYSE:AI) Shares Sold by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC trimmed its position in shares of C3.ai, Inc. (NYSE:AI) by 36.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,465 shares of the company’s stock after selling 6,999 shares during the period. EverSource Wealth Advisors LLC’s holdings in C3.ai were worth $429,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in AI. Brown Lisle Cummings Inc. lifted its stake in C3.ai by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock worth $28,000 after purchasing an additional 400 shares in the last quarter. R Squared Ltd purchased a new stake in shares of C3.ai during the fourth quarter worth $29,000. CENTRAL TRUST Co purchased a new stake in shares of C3.ai during the fourth quarter worth $34,000. Global Retirement Partners LLC increased its position in shares of C3.ai by 1,004.0% during the fourth quarter. Global Retirement Partners LLC now owns 1,115 shares of the company’s stock worth $38,000 after acquiring an additional 1,014 shares during the period. Finally, Quest Partners LLC increased its position in shares of C3.ai by 9,033.3% during the third quarter. Quest Partners LLC now owns 1,644 shares of the company’s stock worth $40,000 after acquiring an additional 1,626 shares during the period. 38.96% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Hitesh Lath sold 3,949 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $42.36, for a total transaction of $167,279.64. Following the completion of the sale, the chief financial officer now owns 851 shares in the company, valued at approximately $36,048.36. This represents a 82.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas M. Siebel sold 409,831 shares of the stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $30.97, for a total transaction of $12,692,466.07. Following the sale, the chief executive officer now owns 1,756,390 shares of the company’s stock, valued at $54,395,398.30. This trade represents a 18.92 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,501,972 shares of company stock valued at $53,818,532. 33.54% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AI. Canaccord Genuity Group cut their price objective 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. KeyCorp cut their price objective on C3.ai from $29.00 to $21.00 and set an “underweight” rating on the stock in a research report on Thursday, February 27th. Morgan Stanley cut their price objective on C3.ai from $32.00 to $30.00 and set an “underweight” rating on the stock in a research report on Thursday, February 27th. DA Davidson cut their price objective on C3.ai from $40.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Finally, Northland Securities increased their target price on C3.ai from $35.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Five 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 given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $31.33.

C3.ai Stock Performance

Shares of AI stock opened at $21.57 on Friday. The stock’s 50-day moving average is $29.62 and its two-hundred day moving average is $29.32. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of -9.76 and a beta of 2.03. C3.ai, Inc. has a 1 year low of $18.85 and a 1 year high of $45.08.

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

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.