C3.ai, Inc. (NYSE:AI) Stock Position Decreased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP decreased its position in C3.ai, Inc. (NYSE:AI) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 306,615 shares of the company’s stock after selling 3,652 shares during the quarter. Dimensional Fund Advisors LP owned about 0.24% of C3.ai worth $10,557,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its stake in shares of C3.ai by 1,242.5% during the 4th quarter. Renaissance Technologies LLC now owns 718,231 shares of the company’s stock worth $24,729,000 after acquiring an additional 664,731 shares in the last quarter. Vanguard Group Inc. boosted its position in C3.ai by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 12,935,969 shares of the company’s stock worth $445,385,000 after purchasing an additional 446,529 shares during the period. Geode Capital Management LLC raised its position in shares of C3.ai by 14.1% in the fourth quarter. Geode Capital Management LLC now owns 2,529,991 shares of the company’s stock valued at $87,128,000 after purchasing an additional 313,066 shares during the period. Norges Bank acquired a new position in C3.ai in the 4th quarter valued at approximately $9,271,000. Finally, Rockefeller Capital Management L.P. lifted its position in shares of C3.ai by 712.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 201,823 shares of the company’s stock worth $6,949,000 after acquiring an additional 176,982 shares during the period. Institutional investors and hedge funds own 38.96% of the company’s stock.

Insider Activity

In other news, VP Merel Witteveen sold 1,133 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $22.25, for a total value of $25,209.25. Following the completion of the sale, the vice president now directly owns 7,287 shares in the company, valued at approximately $162,135.75. The trade was a 13.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas M. Siebel sold 552,422 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 1,336,968 shares in the company, valued at $44,173,422.72. This trade represents a 29.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,461,977 shares of company stock worth $37,418,759. 33.54% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently commented on AI. Piper Sandler reduced their target price 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. DA Davidson reduced their price objective on shares of C3.ai from $25.00 to $18.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Morgan Stanley cut their target price on C3.ai from $30.00 to $20.00 and set an “underweight” rating for the company in a research report on Wednesday, April 16th. KeyCorp dropped their price objective on C3.ai from $21.00 to $17.00 and set an “underweight” rating for the company in a research note on Thursday, April 17th. Finally, Canaccord Genuity Group reduced their target price 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. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $29.58.

C3.ai Price Performance

AI opened at $23.36 on Friday. C3.ai, Inc. has a 1 year low of $17.03 and a 1 year high of $45.08. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of -10.57 and a beta of 1.99. The firm’s fifty day moving average price is $21.36 and its two-hundred day moving average price is $28.57.

C3.ai (NYSE:AI) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.62) earnings per share (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 business had revenue of $98.78 million during the quarter, compared to the consensus estimate of $98.12 million. As a group, equities analysts anticipate that C3.ai, Inc. will post -2.44 EPS for the current year.

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.