CoreCap Advisors LLC Sells 955 Shares of C3.ai, Inc. (NYSE:AI)

CoreCap Advisors LLC reduced its position in C3.ai, Inc. (NYSE:AI) by 46.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,097 shares of the company’s stock after selling 955 shares during the quarter. CoreCap Advisors LLC’s holdings in C3.ai were worth $38,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in C3.ai by 10.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 933,139 shares of the company’s stock worth $32,128,000 after buying an additional 88,750 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in C3.ai during the fourth quarter worth $3,996,000. Vanguard Group Inc. raised its holdings in 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 buying an additional 446,529 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in C3.ai by 70.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 55,339 shares of the company’s stock worth $1,905,000 after buying an additional 22,949 shares during the last quarter. Finally, Strategic Financial Concepts LLC acquired a new position in C3.ai during the fourth quarter worth $2,015,000. 38.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. KeyCorp lowered their target price on shares of C3.ai from $21.00 to $17.00 and set an “underweight” rating for the company in a report on Thursday, April 17th. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a report on Thursday, February 27th. Morgan Stanley lowered their target price on shares of C3.ai from $30.00 to $20.00 and set an “underweight” rating for the company in a report on Wednesday, April 16th. DA Davidson lowered their target price on shares of C3.ai from $25.00 to $18.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Finally, Canaccord Genuity Group lowered their target price on shares of C3.ai from $40.00 to $30.00 and set a “hold” rating for the company in a report on Thursday, February 27th. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, C3.ai presently has a consensus rating of “Hold” and a consensus target price of $29.58.

C3.ai Stock Down 1.0%

NYSE AI opened at $23.74 on Thursday. C3.ai, Inc. has a 52 week low of $17.03 and a 52 week high of $45.08. The firm has a market capitalization of $3.15 billion, a P/E ratio of -10.74 and a beta of 1.99. The company has a 50-day moving average price of $21.46 and a 200-day moving average price of $28.52.

C3.ai (NYSE:AI) last announced its quarterly earnings data 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 company had revenue of $98.78 million for the quarter, compared to the consensus estimate of $98.12 million. As a group, equities research analysts anticipate that C3.ai, Inc. will post -2.44 EPS for the current year.

Insider Transactions at C3.ai

In related news, VP Merel Witteveen sold 1,133 shares of the stock in a transaction 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 sale, the vice president now owns 7,287 shares in the company, valued at approximately $162,135.75. This represents a 13.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Thomas M. Siebel sold 216,974 shares of the 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 sale, the chief executive officer now owns 726,177 shares in the company, valued at $15,888,752.76. The trade was a 23.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 909,555 shares of company stock valued at $19,166,736 in the last ninety days. Corporate insiders own 33.54% of the company’s stock.

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.