C3.ai, Inc. (NYSE:AI) Shares Sold by Baird Financial Group Inc.

Baird Financial Group Inc. decreased its position in C3.ai, Inc. (NYSE:AI) by 12.4% during the fourth quarter, Holdings Channel reports. The firm owned 28,300 shares of the company’s stock after selling 4,000 shares during the quarter. Baird Financial Group Inc.’s holdings in C3.ai were worth $974,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brown Lisle Cummings Inc. raised its position 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. R Squared Ltd purchased a new stake in shares of C3.ai during the fourth quarter worth $29,000. Russell Investments Group Ltd. increased its position in shares of C3.ai by 100.7% during the fourth 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 period. WealthTrak Capital Management LLC purchased a new stake in shares of C3.ai during the fourth quarter worth $33,000. Finally, CENTRAL TRUST Co purchased a new stake in shares of C3.ai during the fourth quarter worth $34,000. Hedge funds and other institutional investors own 38.96% of the company’s stock.

Insider Buying and Selling at C3.ai

In other C3.ai news, VP Merel Witteveen sold 1,133 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were 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 in the company, valued at $162,135.75. This represents a 13.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Thomas M. Siebel sold 294,116 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $21.50, for a total transaction of $6,323,494.00. Following the completion of the transaction, the chief executive officer now owns 943,151 shares of the company’s stock, valued at $20,277,746.50. This represents a 23.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold 909,555 shares of company stock worth $19,166,736 over the last 90 days. Corporate insiders own 33.54% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on AI. KeyCorp cut their price objective on C3.ai from $21.00 to $17.00 and set an “underweight” rating on the stock in a research report on Thursday, April 17th. Canaccord Genuity Group cut their price objective on C3.ai from $40.00 to $30.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. DA Davidson cut their price objective on C3.ai from $25.00 to $18.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Morgan Stanley cut their price objective on C3.ai from $30.00 to $20.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 16th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research report on Thursday, February 27th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $29.58.

C3.ai Price Performance

NYSE:AI opened at $23.98 on Wednesday. The firm has a market capitalization of $3.18 billion, a PE ratio of -10.85 and a beta of 1.99. The business’s fifty day moving average price is $21.44 and its 200 day moving average price is $28.55. C3.ai, Inc. has a 12 month low of $17.03 and a 12 month high of $45.08.

C3.ai (NYSE:AI) last posted its earnings results on Wednesday, February 26th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.37). The business had revenue of $98.78 million during the quarter, compared to analysts’ expectations 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 analysts anticipate that C3.ai, Inc. will post -2.44 EPS 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.