Twin Tree Management LP Makes New $509,000 Investment in C3.ai, Inc. (NYSE:AI)

Twin Tree Management LP purchased a new position in shares of C3.ai, Inc. (NYSE:AI) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 14,771 shares of the company’s stock, valued at approximately $509,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Brown Lisle Cummings Inc. lifted its stake in shares of C3.ai by 100.0% in 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 last quarter. R Squared Ltd bought a new stake in shares of C3.ai in the 4th quarter valued at about $29,000. CENTRAL TRUST Co bought a new stake in shares of C3.ai in the 4th quarter valued at about $34,000. Global Retirement Partners LLC lifted its stake in shares of C3.ai by 1,004.0% in the 4th quarter. Global Retirement Partners LLC now owns 1,115 shares of the company’s stock valued at $38,000 after acquiring an additional 1,014 shares during the last quarter. Finally, Quest Partners LLC lifted its stake in shares of C3.ai by 9,033.3% in the 3rd quarter. Quest Partners LLC now owns 1,644 shares of the company’s stock valued at $40,000 after acquiring an additional 1,626 shares during the last quarter. Institutional investors own 38.96% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. JMP Securities boosted their target price on C3.ai from $40.00 to $55.00 and gave the company a “market outperform” rating in a research note on Tuesday, December 10th. StockNews.com upgraded C3.ai to a “sell” rating in a report on Tuesday, November 26th. Morgan Stanley reduced their price target on C3.ai from $32.00 to $30.00 and set an “underweight” rating on the stock in a report on Thursday, February 27th. Canaccord Genuity Group reduced their price target on C3.ai from $40.00 to $30.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Finally, DA Davidson reduced their price target on C3.ai from $40.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $31.33.

Insider Transactions at C3.ai

In related news, VP Merel Witteveen sold 11,132 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $34.95, for a total value of $389,063.40. Following the transaction, the vice president now directly owns 4,142 shares of the company’s stock, valued at approximately $144,762.90. This represents a 72.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas M. Siebel sold 216,974 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 726,177 shares in the company, valued at $15,888,752.76. This trade represents a 23.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,509,413 shares of company stock valued at $43,210,053 in the last ninety days. 33.54% of the stock is currently owned by corporate insiders.

C3.ai Stock Performance

AI stock opened at $22.16 on Wednesday. C3.ai, Inc. has a fifty-two week low of $18.85 and a fifty-two week high of $45.08. The business’s 50 day moving average price is $29.05 and its two-hundred day moving average price is $29.39. The company has a market capitalization of $2.94 billion, a price-to-earnings ratio of -10.03 and a beta of 2.03.

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