Cerity Partners LLC Sells 851 Shares of C3.ai, Inc. (NYSE:AI)

Cerity Partners LLC reduced its position in shares of C3.ai, Inc. (NYSE:AI) by 3.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,282 shares of the company’s stock after selling 851 shares during the period. Cerity Partners LLC’s holdings in C3.ai were worth $797,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in shares of C3.ai by 8.8% during the third quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company’s stock worth $53,728,000 after buying an additional 178,870 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in C3.ai by 28.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 14,400 shares of the company’s stock valued at $496,000 after purchasing an additional 3,161 shares during the last quarter. TT International Asset Management LTD bought a new stake in C3.ai in the 4th quarter valued at $482,000. Friedenthal Financial acquired a new stake in C3.ai in the 4th quarter worth $757,000. Finally, Janney Montgomery Scott LLC increased its holdings in shares of C3.ai by 70.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 55,339 shares of the company’s stock worth $1,905,000 after purchasing an additional 22,949 shares during the period. 38.96% of the stock is currently owned by institutional investors and hedge funds.

C3.ai Trading Up 0.2 %

Shares of C3.ai stock opened at $19.38 on Friday. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of -8.77 and a beta of 2.01. The firm’s 50-day moving average price is $23.20 and its two-hundred day moving average price is $28.94. C3.ai, Inc. has a 1-year low of $17.03 and a 1-year high of $45.08.

C3.ai (NYSE:AI) last released 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). C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. The business had revenue of $98.78 million for the quarter, compared to the consensus estimate of $98.12 million. As a group, equities research analysts predict that C3.ai, Inc. will post -2.44 EPS for the current year.

Analysts Set New Price Targets

AI has been the topic of a number of recent research reports. KeyCorp decreased their target price on C3.ai from $21.00 to $17.00 and set an “underweight” rating on the stock in a research report on Thursday. Piper Sandler decreased their price objective on C3.ai from $42.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a research note on Thursday, February 27th. Canaccord Genuity Group decreased their price target on shares of C3.ai from $40.00 to $30.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. Finally, DA Davidson dropped their price objective on shares of C3.ai from $25.00 to $18.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $29.58.

Insider Activity

In other C3.ai news, CEO Thomas M. Siebel sold 552,422 shares of the 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 transaction, the chief executive officer now directly owns 1,336,968 shares in the company, valued at approximately $44,173,422.72. This trade represents a 29.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard C. Levin sold 12,000 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $29.84, for a total value of $358,080.00. Following the sale, the director now owns 161,664 shares of the company’s stock, valued at approximately $4,824,053.76. The trade was a 6.91 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,446,967 shares of company stock worth $37,175,326. 33.54% of the stock is owned by corporate insiders.

C3.ai Company 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.