10,353 Shares in C3.ai, Inc. (NYSE:AI) Bought by Cibc World Markets Corp

Cibc World Markets Corp bought a new stake in C3.ai, Inc. (NYSE:AI) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,353 shares of the company’s stock, valued at approximately $356,000.

Several other large investors also recently modified their holdings of AI. Brown Lisle Cummings Inc. lifted its position in C3.ai by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock valued at $28,000 after acquiring an additional 400 shares in the last quarter. R Squared Ltd bought a new stake in shares of C3.ai in the fourth quarter valued at about $29,000. CENTRAL TRUST Co acquired a new position in shares of C3.ai during the fourth quarter worth about $34,000. Global Retirement Partners LLC grew its holdings in shares of C3.ai by 1,004.0% during the fourth quarter. Global Retirement Partners LLC now owns 1,115 shares of the company’s stock worth $38,000 after buying an additional 1,014 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its position in C3.ai by 72.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,322 shares of the company’s stock valued at $46,000 after buying an additional 555 shares during the last quarter. 38.96% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other C3.ai news, Director Richard C. Levin sold 12,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $34.80, for a total value of $417,600.00. Following the completion of the sale, the director now owns 161,664 shares of the company’s stock, valued at $5,625,907.20. The trade was a 6.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Merel Witteveen sold 1,133 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $22.25, for a total transaction of $25,209.25. Following the transaction, the vice president now directly owns 7,287 shares in the company, valued at $162,135.75. This represents a 13.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,510,546 shares of company stock worth $43,235,262 over the last three months. Insiders own 33.54% of the company’s stock.

C3.ai Trading Up 3.7 %

AI stock opened at $23.47 on Tuesday. C3.ai, Inc. has a 1-year low of $18.85 and a 1-year high of $45.08. The business’s 50 day simple moving average is $28.27 and its 200 day simple moving average is $29.39. The firm has a market capitalization of $3.12 billion, a PE ratio of -10.62 and a beta of 2.03.

C3.ai (NYSE:AI) last issued its quarterly earnings data 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). The company had revenue of $98.78 million during the quarter, compared to the consensus estimate of $98.12 million. C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. As a group, sell-side analysts predict that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. KeyCorp decreased their price target on shares of C3.ai from $29.00 to $21.00 and set an “underweight” rating for the company in a research note on Thursday, February 27th. Canaccord Genuity Group lowered 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. Northland Securities increased their price objective on shares of C3.ai from $35.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. StockNews.com upgraded C3.ai to a “sell” rating in a report on Tuesday, November 26th. Finally, Morgan Stanley dropped their target price on C3.ai from $32.00 to $30.00 and set an “underweight” rating on the stock in a report on Thursday, February 27th. Five analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $31.33.

About C3.ai

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.