C3.ai, Inc. (NYSE:AI) Shares Sold by Forum Financial Management LP

Forum Financial Management LP lowered its stake in shares of C3.ai, Inc. (NYSE:AI) by 21.0% in the fourth quarter, HoldingsChannel reports. The fund owned 11,441 shares of the company’s stock after selling 3,043 shares during the quarter. Forum Financial Management LP’s holdings in C3.ai were worth $394,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of AI. Brown Lisle Cummings Inc. grew its holdings in C3.ai by 100.0% in 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 during the period. Russell Investments Group Ltd. grew its stake in shares of C3.ai by 100.7% during 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 during the period. Legal & General Group Plc increased its holdings in shares of C3.ai by 0.4% during the 4th quarter. Legal & General Group Plc now owns 119,144 shares of the company’s stock worth $4,102,000 after buying an additional 517 shares during the last quarter. Geneos Wealth Management Inc. raised its position in shares of C3.ai by 72.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,322 shares of the company’s stock worth $46,000 after buying an additional 555 shares during the period. Finally, Corient Private Wealth LLC boosted its holdings in C3.ai by 2.4% in the fourth quarter. Corient Private Wealth LLC now owns 23,371 shares of the company’s stock valued at $805,000 after acquiring an additional 555 shares during the last quarter. 38.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Morgan Stanley dropped their price target on C3.ai from $30.00 to $20.00 and set an “underweight” rating for the company in a research note on Wednesday, April 16th. KeyCorp cut their price target on shares of C3.ai from $21.00 to $17.00 and set an “underweight” rating on the stock in a report on Thursday. DA Davidson decreased their price objective on shares of C3.ai from $25.00 to $18.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Piper Sandler cut their target price on shares of C3.ai from $42.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research report on Thursday, February 27th. Five analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $29.58.

C3.ai Price Performance

Shares of C3.ai stock opened at $19.38 on Monday. C3.ai, Inc. has a 1-year low of $17.03 and a 1-year high of $45.08. The company has a market capitalization of $2.57 billion, a PE ratio of -8.77 and a beta of 2.01. The business has a 50-day moving average of $23.20 and a 200-day moving average of $28.98.

C3.ai (NYSE:AI) last issued its quarterly earnings data 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). 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 for the quarter, compared to analyst estimates of $98.12 million. On average, equities analysts expect that C3.ai, Inc. will post -2.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other C3.ai news, CEO Thomas M. Siebel sold 13,567 shares of the stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $19.47, for a total transaction of $264,149.49. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Merel Witteveen sold 1,133 shares of C3.ai stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $22.25, for a total value of $25,209.25. Following the completion of the transaction, the vice president now owns 7,287 shares of the company’s stock, valued at approximately $162,135.75. The trade was a 13.46 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,446,967 shares of company stock worth $37,175,326. 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.