Forum Financial Management LP Has $394,000 Stock Holdings in C3.ai, Inc. (NYSE:AI)

Forum Financial Management LP lessened its holdings in shares of C3.ai, Inc. (NYSE:AI) by 21.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 11,441 shares of the company’s stock after selling 3,043 shares during the quarter. Forum Financial Management LP’s holdings in C3.ai were worth $394,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of AI. Two Sigma Investments LP bought a new position in shares of C3.ai during the fourth quarter worth $42,306,000. Man Group plc bought a new position in shares of C3.ai during the fourth quarter worth $38,455,000. Two Sigma Advisers LP bought a new position in shares of C3.ai during the fourth quarter worth $30,725,000. Renaissance Technologies LLC boosted its position in shares of C3.ai by 1,242.5% during the fourth quarter. Renaissance Technologies LLC now owns 718,231 shares of the company’s stock worth $24,729,000 after purchasing an additional 664,731 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 38.96% of the company’s stock.

Insider Activity

In other news, CEO Thomas M. Siebel sold 294,116 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $21.50, for a total value of $6,323,494.00. Following the sale, the chief executive officer now directly owns 943,151 shares of the company’s stock, valued at approximately $20,277,746.50. This represents a 23.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas M. Siebel sold 13,567 shares of the company’s stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $19.47, for a total transaction of $264,149.49. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,528,714 shares of company stock valued at $34,019,130. 33.54% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Canaccord Genuity Group reduced 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 report on Thursday, February 27th. Piper Sandler cut their price objective on shares of C3.ai from $42.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Morgan Stanley cut their price objective on shares of C3.ai from $30.00 to $20.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 16th. DA Davidson cut their price objective on shares of C3.ai from $25.00 to $18.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research report on Thursday, February 27th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $29.58.

C3.ai Price Performance

Shares of NYSE:AI opened at $22.74 on Tuesday. The company’s 50-day moving average price is $21.68 and its two-hundred day moving average price is $28.37. C3.ai, Inc. has a one year low of $17.03 and a one year high of $45.08. The stock has a market capitalization of $3.02 billion, a PE ratio of -10.29 and a beta of 1.99.

C3.ai (NYSE:AI) last issued its earnings results 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). The firm 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%. On average, analysts anticipate that C3.ai, Inc. will post -2.44 earnings per share for the current fiscal year.

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.