Global Assets Advisory LLC Sells 1,585 Shares of C3.ai, Inc. (NYSE:AI)

Global Assets Advisory LLC cut its position in shares of C3.ai, Inc. (NYSE:AI) by 4.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,272 shares of the company’s stock after selling 1,585 shares during the period. Global Assets Advisory LLC’s holdings in C3.ai were worth $1,084,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Brown Lisle Cummings Inc. boosted its holdings in C3.ai by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock valued at $28,000 after purchasing an additional 400 shares in the last quarter. R Squared Ltd acquired a new stake in C3.ai in the 4th quarter valued at $29,000. Russell Investments Group Ltd. boosted its stake in C3.ai by 100.7% in the 4th quarter. Russell Investments Group Ltd. now owns 909 shares of the company’s stock valued at $31,000 after buying an additional 456 shares in the last quarter. WealthTrak Capital Management LLC acquired a new position in C3.ai during the fourth quarter worth $33,000. Finally, CENTRAL TRUST Co bought a new position in shares of C3.ai during the fourth quarter valued at $34,000. 38.96% of the stock is currently owned by institutional investors and hedge funds.

C3.ai Stock Down 0.5 %

Shares of NYSE AI opened at $23.36 on Friday. C3.ai, Inc. has a twelve month low of $17.03 and a twelve month high of $45.08. The company’s fifty day moving average is $21.36 and its 200-day moving average is $28.54. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of -10.57 and a beta of 1.99.

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AI. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a report on Thursday, February 27th. Piper Sandler dropped their price objective on shares of C3.ai from $42.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. KeyCorp cut their target price on shares of C3.ai from $21.00 to $17.00 and set an “underweight” rating for the company in a research note on Thursday, April 17th. DA Davidson decreased 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. Finally, Morgan Stanley reduced their price objective on C3.ai from $30.00 to $20.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 16th. 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $29.58.

Insider Buying and Selling at C3.ai

In other C3.ai news, CEO Thomas M. Siebel sold 552,422 shares of C3.ai stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $33.04, for a total value of $18,252,022.88. Following the sale, the chief executive officer now owns 1,336,968 shares of the company’s stock, valued at $44,173,422.72. This trade represents a 29.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Merel Witteveen sold 1,133 shares of the company’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $22.25, for a total value of $25,209.25. Following the transaction, the vice president now directly owns 7,287 shares of the company’s stock, 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. Over the last quarter, insiders have sold 1,461,977 shares of company stock valued at $37,418,759. 33.54% of the stock is currently owned by corporate insiders.

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.