Rhumbline Advisers Boosts Stake in C3.ai, Inc. (NYSE:AI)

Rhumbline Advisers increased its holdings in C3.ai, Inc. (NYSE:AI) by 39.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 166,378 shares of the company’s stock after purchasing an additional 47,028 shares during the period. Rhumbline Advisers’ holdings in C3.ai were worth $5,728,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of AI. Brown Lisle Cummings Inc. grew its stake in shares of C3.ai by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock worth $28,000 after buying an additional 400 shares in the last quarter. R Squared Ltd bought a new position in shares of C3.ai in the 4th quarter valued at about $29,000. CENTRAL TRUST Co bought a new position in shares of C3.ai in the 4th quarter valued at about $34,000. Quest Partners LLC grew its position in C3.ai by 9,033.3% in the third quarter. Quest Partners LLC now owns 1,644 shares of the company’s stock worth $40,000 after acquiring an additional 1,626 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its stake in C3.ai by 72.4% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,322 shares of the company’s stock worth $46,000 after acquiring an additional 555 shares during the last quarter. Institutional investors own 38.96% of the company’s stock.

Insider Transactions at C3.ai

In other C3.ai news, CEO Thomas M. Siebel sold 552,422 shares of C3.ai stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $33.04, for a total transaction of $18,252,022.88. Following the completion of the sale, the chief executive officer now directly owns 1,336,968 shares in the company, valued at approximately $44,173,422.72. The trade was a 29.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Hitesh Lath sold 11,339 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $42.00, for a total transaction of $476,238.00. Following the completion of the sale, the chief financial officer now owns 851 shares in the company, valued at $35,742. The trade was a 93.02 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,643,311 shares of company stock worth $59,736,620. Insiders own 33.54% of the company’s stock.

C3.ai Trading Up 0.4 %

Shares of NYSE:AI opened at $26.43 on Thursday. The company has a market capitalization of $3.41 billion, a PE ratio of -11.96 and a beta of 1.98. C3.ai, Inc. has a 12-month low of $18.85 and a 12-month high of $45.08. The business’s fifty day simple moving average is $32.88 and its 200-day simple moving average is $29.59.

C3.ai (NYSE:AI) last announced its earnings results on Wednesday, February 26th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate 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%. Research analysts predict that C3.ai, Inc. will post -2.44 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on AI shares. KeyCorp lowered C3.ai from a “sector weight” rating to an “underweight” rating and set a $29.00 price objective for the company. in a research note on Thursday, December 19th. StockNews.com upgraded C3.ai to a “sell” rating in a report on Tuesday, November 26th. JMP Securities lifted their price objective on shares of C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a research note on Tuesday, December 10th. Northland Securities increased their target price 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. Finally, DA Davidson raised shares of C3.ai to a “hold” rating in a research note on Wednesday, December 18th. Five investment analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, C3.ai has an average rating of “Hold” and a consensus price target of $35.00.

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.