Moors & Cabot Inc. Has $376,000 Stock Position in C3.ai, Inc. (NYSE:AI)

Moors & Cabot Inc. lessened its stake in C3.ai, Inc. (NYSE:AI) by 4.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,913 shares of the company’s stock after selling 500 shares during the quarter. Moors & Cabot Inc.’s holdings in C3.ai were worth $376,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AI. Janney Montgomery Scott LLC acquired a new position in C3.ai during the third quarter worth approximately $785,000. State of New Jersey Common Pension Fund D increased its holdings in shares of C3.ai by 4.8% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 81,461 shares of the company’s stock worth $1,974,000 after acquiring an additional 3,708 shares during the last quarter. Versor Investments LP raised its stake in C3.ai by 6.4% in the 3rd quarter. Versor Investments LP now owns 12,800 shares of the company’s stock valued at $310,000 after acquiring an additional 770 shares during the period. Victory Capital Management Inc. lifted its holdings in C3.ai by 3.4% during the 3rd quarter. Victory Capital Management Inc. now owns 14,078 shares of the company’s stock valued at $341,000 after purchasing an additional 457 shares during the last quarter. Finally, KBC Group NV boosted its position in C3.ai by 37.0% during the third quarter. KBC Group NV now owns 3,593 shares of the company’s stock worth $87,000 after purchasing an additional 971 shares during the period. 38.96% of the stock is owned by institutional investors.

C3.ai Price Performance

Shares of NYSE:AI opened at $21.57 on Friday. C3.ai, Inc. has a 1 year low of $18.85 and a 1 year high of $45.08. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of -9.76 and a beta of 2.03. The company’s 50 day simple moving average is $29.62 and its 200 day simple moving average is $29.36.

C3.ai (NYSE:AI) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.37). The business had revenue of $98.78 million for the quarter, compared to analyst estimates 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, analysts anticipate that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Insider Transactions at C3.ai

In other C3.ai news, CEO Thomas M. Siebel sold 552,422 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jim H. Snabe sold 499,700 shares of C3.ai stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $43.05, for a total value of $21,512,085.00. Following the sale, the director now directly owns 10,000 shares in the company, valued at $430,500. The trade was a 98.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders 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 analysts have recently issued reports on AI shares. DA Davidson cut their target price on shares of C3.ai from $40.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Piper Sandler reduced their price objective on C3.ai from $42.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Morgan Stanley lowered their target price 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. JPMorgan Chase & Co. downgraded C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price target for the company. in a research note on Wednesday, December 11th. Finally, Canaccord Genuity Group lowered 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. Five investment analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $31.33.

C3.ai 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.