17,060 Shares in C3.ai, Inc. (NYSE:AI) Purchased by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV bought a new stake in shares of C3.ai, Inc. (NYSE:AI) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 17,060 shares of the company’s stock, valued at approximately $587,000.

Other hedge funds have also recently modified their holdings of the company. Brown Lisle Cummings Inc. boosted its holdings in C3.ai by 100.0% during 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 during the period. R Squared Ltd bought a new stake in shares of C3.ai during the fourth quarter worth $29,000. Russell Investments Group Ltd. boosted its stake in shares of C3.ai by 100.7% during the fourth quarter. Russell Investments Group Ltd. now owns 909 shares of the company’s stock valued at $31,000 after purchasing an additional 456 shares during the period. WealthTrak Capital Management LLC bought a new position in shares of C3.ai in the fourth quarter worth about $33,000. Finally, CENTRAL TRUST Co purchased a new position in C3.ai in the 4th quarter worth about $34,000. Institutional investors own 38.96% of the company’s stock.

Insiders Place Their Bets

In other news, VP Merel Witteveen sold 1,133 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $22.25, for a total transaction of $25,209.25. Following the sale, the vice president now directly owns 7,287 shares of the company’s stock, valued at $162,135.75. The trade was a 13.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas M. Siebel sold 216,974 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $21.88, for a total value of $4,747,391.12. Following the completion of the transaction, the chief executive officer now directly owns 726,177 shares in the company, valued at approximately $15,888,752.76. The trade was a 23.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 909,555 shares of company stock valued at $19,166,736. 33.54% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on AI. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research report on Thursday, February 27th. Piper Sandler dropped their price objective on C3.ai from $42.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. KeyCorp decreased their target price on C3.ai from $21.00 to $17.00 and set an “underweight” rating for the company in a research report on Thursday, April 17th. Canaccord Genuity Group lowered their target price on C3.ai from $40.00 to $30.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Finally, DA Davidson dropped their price target on C3.ai from $25.00 to $18.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, C3.ai presently has a consensus rating of “Hold” and a consensus price target of $29.58.

C3.ai Price Performance

Shares of AI stock opened at $24.20 on Tuesday. The stock’s 50-day moving average is $21.39 and its 200 day moving average is $28.59. C3.ai, Inc. has a 1-year low of $17.03 and a 1-year high of $45.08. The company has a market cap of $3.21 billion, a P/E ratio of -10.95 and a beta of 1.99.

C3.ai (NYSE:AI) last posted its 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). The firm had revenue of $98.78 million for the quarter, compared to analysts’ expectations of $98.12 million. C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. On average, analysts anticipate that C3.ai, Inc. will post -2.44 EPS for the current year.

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.