C3.ai, Inc. (NYSE:AI) Shares Sold by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC lowered its position in C3.ai, Inc. (NYSE:AI) by 36.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,465 shares of the company’s stock after selling 6,999 shares during the period. EverSource Wealth Advisors LLC’s holdings in C3.ai were worth $429,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Brown Lisle Cummings Inc. lifted its position in shares of 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. Victory Capital Management Inc. lifted its position in shares of C3.ai by 3.4% during the 3rd quarter. Victory Capital Management Inc. now owns 14,078 shares of the company’s stock valued at $341,000 after acquiring an additional 457 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of C3.ai by 72.4% during the 4th quarter. Geneos Wealth Management Inc. now owns 1,322 shares of the company’s stock valued at $46,000 after acquiring an additional 555 shares during the period. Versor Investments LP lifted its position in shares of C3.ai by 6.4% during the 3rd quarter. Versor Investments LP now owns 12,800 shares of the company’s stock valued at $310,000 after acquiring an additional 770 shares during the period. Finally, Arizona State Retirement System lifted its position in shares of C3.ai by 2.6% during the 4th quarter. Arizona State Retirement System now owns 32,265 shares of the company’s stock valued at $1,111,000 after acquiring an additional 826 shares during the period. Institutional investors and hedge funds own 38.96% of the company’s stock.

C3.ai Stock Up 3.1 %

Shares of AI opened at $21.57 on Friday. The firm has a market cap of $2.78 billion, a PE ratio of -9.76 and a beta of 2.03. The company’s fifty day moving average is $29.62 and its two-hundred day moving average is $29.32. C3.ai, Inc. has a fifty-two week low of $18.85 and a fifty-two week high of $45.08.

C3.ai (NYSE:AI) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.37). The company had revenue of $98.78 million during the quarter, compared to analyst estimates of $98.12 million. C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. As a group, equities research analysts anticipate that C3.ai, Inc. will post -2.44 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AI. Northland Securities raised their price objective on shares of C3.ai from $35.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. 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 research note on Thursday, February 27th. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research note on Thursday, February 27th. KeyCorp dropped their price objective on shares of C3.ai from $29.00 to $21.00 and set an “underweight” rating for the company in a research note on Thursday, February 27th. Finally, DA Davidson dropped their price objective on shares of C3.ai from $40.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Five investment analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, C3.ai currently has a consensus rating of “Hold” and a consensus target price of $31.33.

Insider Buying and Selling at C3.ai

In related news, CEO Thomas M. Siebel sold 552,422 shares of C3.ai stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $33.04, for a total transaction of $18,252,022.88. Following the transaction, the chief executive officer now owns 1,336,968 shares in the company, valued at approximately $44,173,422.72. The trade was a 29.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jim H. Snabe sold 499,700 shares of C3.ai stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $43.05, for a total transaction of $21,512,085.00. Following the transaction, the director now owns 10,000 shares in the company, valued at $430,500. The trade was a 98.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,501,972 shares of company stock worth $53,818,532 in the last quarter. 33.54% of the stock is owned by insiders.

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.