61,806 Shares in C3.ai, Inc. (NYSE:AI) Purchased by Virtu Financial LLC

Virtu Financial LLC purchased a new position in shares of C3.ai, Inc. (NYSE:AI) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 61,806 shares of the company’s stock, valued at approximately $2,128,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in C3.ai by 8.8% in the 3rd 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 during the last quarter. SBI Securities Co. Ltd. acquired a new position in C3.ai in the 4th quarter valued at about $3,996,000. Raymond James Financial Inc. acquired a new position in C3.ai in the 4th quarter valued at about $3,942,000. Charles Schwab Investment Management Inc. boosted its holdings in C3.ai by 12.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock valued at $20,460,000 after purchasing an additional 92,280 shares during the last quarter. Finally, Hodges Capital Management Inc. purchased a new stake in shares of C3.ai in the 3rd quarter valued at approximately $1,955,000. 38.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at C3.ai

In related news, VP Merel Witteveen sold 1,133 shares of C3.ai stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $22.25, for a total transaction of $25,209.25. Following the sale, the vice president now directly owns 7,287 shares in the company, valued at $162,135.75. This trade represents a 13.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas M. Siebel sold 216,974 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $21.88, for a total transaction of $4,747,391.12. Following the completion of the transaction, the chief executive officer now owns 726,177 shares of the company’s stock, valued at $15,888,752.76. This represents a 23.01 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,510,546 shares of company stock valued at $43,235,262. Insiders own 33.54% of the company’s stock.

C3.ai Trading Up 1.2 %

Shares of NYSE:AI opened at $22.65 on Friday. C3.ai, Inc. has a 52 week low of $18.85 and a 52 week high of $45.08. The company’s 50 day moving average is $28.42 and its two-hundred day moving average is $29.33. The company has a market cap of $3.01 billion, a PE ratio of -10.25 and a beta of 2.03.

C3.ai (NYSE:AI) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.62) 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 during the quarter, compared to analysts’ expectations of $98.12 million. As a group, equities research analysts expect that C3.ai, Inc. will post -2.44 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Piper Sandler reduced their price target on shares of C3.ai from $42.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research note on Thursday, February 27th. Northland Securities boosted their price target on shares of C3.ai from $35.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. StockNews.com raised shares of C3.ai to a “sell” rating in a research note on Tuesday, November 26th. Finally, Morgan Stanley reduced their price target on shares of C3.ai from $32.00 to $30.00 and set an “underweight” rating on the stock in a research note on Thursday, February 27th. Five analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock 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.