C3.ai, Inc. (NYSE:AI) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its holdings in shares of C3.ai, Inc. (NYSE:AIFree Report) by 12.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,710 shares of the company’s stock after selling 808 shares during the period. Allspring Global Investments Holdings LLC’s holdings in C3.ai were worth $146,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Armstrong Advisory Group Inc. grew its position in C3.ai by 375.7% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 999 shares of the company’s stock valued at $25,000 after buying an additional 789 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of C3.ai in the 1st quarter worth approximately $25,000. Point72 Hong Kong Ltd acquired a new stake in shares of C3.ai in the 2nd quarter worth approximately $25,000. Farther Finance Advisors LLC lifted its position in C3.ai by 8,111.1% in the second quarter. Farther Finance Advisors LLC now owns 739 shares of the company’s stock worth $27,000 after purchasing an additional 730 shares during the period. Finally, Strs Ohio acquired a new stake in C3.ai in the second quarter worth approximately $29,000. 38.96% of the stock is owned by institutional investors.

C3.ai Stock Performance

C3.ai stock opened at $24.79 on Thursday. The company has a 50 day moving average price of $28.15 and a 200 day moving average price of $29.25. C3.ai, Inc. has a 52 week low of $16.79 and a 52 week high of $48.87. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of -10.78 and a beta of 1.58.

C3.ai (NYSE:AIGet Free Report) last issued its earnings results on Wednesday, December 6th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.05. C3.ai had a negative return on equity of 28.19% and a negative net margin of 95.83%. The business had revenue of $73.20 million during the quarter, compared to analysts’ expectations of $74.33 million. During the same quarter last year, the firm posted ($0.63) earnings per share. C3.ai’s revenue was up 17.3% compared to the same quarter last year. Equities analysts forecast that C3.ai, Inc. will post -2.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Juho Parkkinen sold 5,513 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $30.56, for a total transaction of $168,477.28. Following the completion of the sale, the chief financial officer now directly owns 296,907 shares in the company, valued at $9,073,477.92. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CTO Edward Y. Abbo sold 45,548 shares of C3.ai stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $30.73, for a total transaction of $1,399,690.04. Following the completion of the sale, the chief technology officer now directly owns 727,373 shares in the company, valued at approximately $22,352,172.29. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Juho Parkkinen sold 5,513 shares of C3.ai stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $30.56, for a total transaction of $168,477.28. Following the completion of the sale, the chief financial officer now owns 296,907 shares of the company’s stock, valued at $9,073,477.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,931 shares of company stock worth $1,876,191. 34.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on AI shares. Canaccord Genuity Group restated a “hold” rating and issued a $27.00 target price on shares of C3.ai in a research report on Thursday, December 7th. StockNews.com upgraded shares of C3.ai to a “sell” rating in a research report on Tuesday, November 21st. Piper Sandler reduced their price objective on shares of C3.ai from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Thursday, December 7th. Oppenheimer upgraded shares of C3.ai from a “market perform” rating to an “outperform” rating and set a $40.00 price objective for the company in a research report on Tuesday, November 21st. Finally, DA Davidson reduced their target price on shares of C3.ai from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, December 7th. Three analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, C3.ai currently has an average rating of “Hold” and an average target price of $28.33.

Check Out Our Latest Research Report on C3.ai

About C3.ai

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for C3.ai (NYSE:AI)

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