Graham Capital Management L.P. Lowers Stock Holdings in C3.ai, Inc. (NYSE:AI)

Graham Capital Management L.P. reduced its position in C3.ai, Inc. (NYSE:AI) by 64.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,714 shares of the company’s stock after selling 22,821 shares during the period. Graham Capital Management L.P.’s holdings in C3.ai were worth $438,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Brown Lisle Cummings Inc. raised its holdings in C3.ai by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock worth $28,000 after acquiring an additional 400 shares during the last quarter. R Squared Ltd purchased a new position in C3.ai in the 4th quarter worth approximately $29,000. Russell Investments Group Ltd. raised its holdings in C3.ai by 100.7% in the 4th quarter. Russell Investments Group Ltd. now owns 909 shares of the company’s stock worth $31,000 after acquiring an additional 456 shares during the last quarter. WealthTrak Capital Management LLC purchased a new position in C3.ai in the 4th quarter worth approximately $33,000. Finally, CENTRAL TRUST Co purchased a new position in C3.ai in the 4th quarter worth approximately $34,000. 38.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other C3.ai news, CEO Thomas M. Siebel sold 216,974 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $21.88, for a total transaction of $4,747,391.12. Following the completion of the transaction, the chief executive officer now owns 726,177 shares of the company’s stock, valued at $15,888,752.76. This represents a 23.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas M. Siebel sold 13,567 shares of the 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 quarter, insiders sold 1,523,332 shares of company stock valued at $33,894,663. Company insiders own 33.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. 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 report on Thursday, April 17th. Morgan Stanley decreased their target price on shares of C3.ai from $30.00 to $20.00 and set an “underweight” rating for the company in a research note on Wednesday, April 16th. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research note on Thursday, February 27th. Canaccord Genuity Group decreased their target price on shares of C3.ai from $40.00 to $30.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Finally, Piper Sandler decreased their target price on shares of C3.ai from $42.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $29.58.

C3.ai Price Performance

NYSE:AI opened at $24.17 on Friday. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of -10.93 and a beta of 1.99. C3.ai, Inc. has a one year low of $17.03 and a one year high of $45.08. The business has a fifty day moving average price of $21.57 and a 200-day moving average price of $28.48.

C3.ai (NYSE:AI) last issued its earnings results 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 firm had revenue of $98.78 million during the quarter, compared to the consensus estimate of $98.12 million. C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. On average, equities research analysts expect 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.