Intech Investment Management LLC Has $1.73 Million Stake in C3.ai, Inc. (NYSE:AI)

Intech Investment Management LLC boosted its position in C3.ai, Inc. (NYSE:AI) by 42.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,372 shares of the company’s stock after purchasing an additional 14,910 shares during the period. Intech Investment Management LLC’s holdings in C3.ai were worth $1,734,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Tocqueville Asset Management L.P. increased its position in C3.ai by 10.2% in the 4th quarter. Tocqueville Asset Management L.P. now owns 15,975 shares of the company’s stock valued at $550,000 after acquiring an additional 1,475 shares during the period. Cibc World Markets Corp acquired a new stake in C3.ai in the fourth quarter valued at $356,000. Twin Tree Management LP bought a new position in C3.ai during the 4th quarter worth $509,000. IMG Wealth Management Inc. acquired a new position in C3.ai during the 4th quarter worth about $78,000. Finally, Corient Private Wealth LLC grew its position in shares of C3.ai by 2.4% in the 4th quarter. Corient Private Wealth LLC now owns 23,371 shares of the company’s stock valued at $805,000 after buying an additional 555 shares during the last quarter. 38.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling at C3.ai

In other news, VP Merel Witteveen sold 11,132 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $34.95, for a total value of $389,063.40. Following the transaction, the vice president now owns 4,142 shares in the company, valued at $144,762.90. This trade represents a 72.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas M. Siebel sold 552,422 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $33.04, for a total value of $18,252,022.88. Following the sale, the chief executive officer now owns 1,336,968 shares of the company’s stock, valued at $44,173,422.72. This trade represents a 29.24 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,510,546 shares of company stock valued at $43,235,262. Corporate insiders own 33.54% of the company’s stock.

C3.ai Stock Performance

AI stock opened at $22.65 on Friday. The stock’s 50 day simple moving average is $28.42 and its 200 day simple moving average is $29.29. The company has a market cap of $3.01 billion, a P/E ratio of -10.25 and a beta of 2.03. C3.ai, Inc. has a fifty-two week low of $18.85 and a fifty-two week high of $45.08.

C3.ai (NYSE:AI) last released its quarterly earnings data 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 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. Equities analysts predict that C3.ai, Inc. will post -2.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. 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 note on Thursday, February 27th. JMP Securities upped their price objective on shares of C3.ai from $40.00 to $55.00 and gave the company a “market outperform” rating in a research note on Tuesday, December 10th. Piper Sandler lowered their target price on shares of C3.ai from $42.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research report on Thursday, February 27th. Finally, Northland Securities lifted their price objective on C3.ai from $35.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Five research analysts have rated the stock with a sell rating, five have given 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, C3.ai presently has an average rating of “Hold” and an average target price of $31.33.

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.