Twin Tree Management LP Takes Position in C3.ai, Inc. (NYSE:AI)

Twin Tree Management LP bought a new stake in C3.ai, Inc. (NYSE:AI) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 14,771 shares of the company’s stock, valued at approximately $509,000.

A number of other large investors also recently modified their holdings of the stock. Geode Capital Management LLC lifted its holdings in shares of C3.ai by 8.8% in the third quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company’s stock valued at $53,728,000 after purchasing an additional 178,870 shares in the last quarter. State Street Corp increased its position in shares of C3.ai by 1.8% during the third quarter. State Street Corp now owns 2,121,391 shares of the company’s stock valued at $51,401,000 after acquiring an additional 38,185 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of C3.ai by 10.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 933,139 shares of the company’s stock valued at $32,128,000 after acquiring an additional 88,750 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of C3.ai by 1.3% during the fourth quarter. Bank of New York Mellon Corp now owns 695,893 shares of the company’s stock valued at $23,960,000 after acquiring an additional 8,772 shares during the last quarter. Finally, Swiss National Bank increased its position 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 valued at $7,530,000 after acquiring an additional 5,500 shares during the last quarter. Institutional investors own 38.96% of the company’s stock.

C3.ai Stock Performance

Shares of NYSE AI opened at $22.16 on Wednesday. The stock has a market cap of $2.94 billion, a PE ratio of -10.03 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. The stock has a fifty day moving average of $29.05 and a 200-day moving average of $29.39.

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

Insider Activity at C3.ai

In related news, VP Merel Witteveen sold 11,132 shares of C3.ai stock in a transaction on Monday, December 30th. The stock was sold at an average price of $34.95, for a total transaction 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 approximately $144,762.90. This trade represents a 72.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas M. Siebel sold 552,422 shares of C3.ai stock in a transaction on Tuesday, February 11th. The shares were 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 directly owns 1,336,968 shares of the company’s stock, valued at $44,173,422.72. This represents a 29.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,509,413 shares of company stock valued at $43,210,053. Company insiders own 33.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AI. Piper Sandler decreased their price target on C3.ai from $42.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Canaccord Genuity Group decreased their price target on C3.ai from $40.00 to $30.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. DA Davidson decreased their price target on C3.ai from $40.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Morgan Stanley decreased their target price on C3.ai from $32.00 to $30.00 and set an “underweight” rating for the company in a research report on Thursday, February 27th. Finally, JPMorgan Chase & Co. downgraded C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 target price for the company. in a research report on Wednesday, December 11th. Five investment 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 company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus 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.