CoreCap Advisors LLC Sells 955 Shares of C3.ai, Inc. (NYSE:AI)

CoreCap Advisors LLC lowered its stake in shares of C3.ai, Inc. (NYSE:AI) by 46.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,097 shares of the company’s stock after selling 955 shares during the quarter. CoreCap Advisors LLC’s holdings in C3.ai were worth $38,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings in C3.ai by 10.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 933,139 shares of the company’s stock worth $32,128,000 after acquiring an additional 88,750 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in C3.ai in the fourth quarter worth about $3,996,000. Vanguard Group Inc. boosted its holdings in C3.ai by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 12,935,969 shares of the company’s stock worth $445,385,000 after acquiring an additional 446,529 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in C3.ai by 70.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 55,339 shares of the company’s stock worth $1,905,000 after acquiring an additional 22,949 shares in the last quarter. Finally, Strategic Financial Concepts LLC acquired a new stake in C3.ai in the fourth quarter worth about $2,015,000. Institutional investors and hedge funds own 38.96% of the company’s stock.

C3.ai Stock Down 1.0%

Shares of NYSE:AI opened at $23.74 on Thursday. The business has a fifty day moving average of $21.46 and a two-hundred day moving average of $28.52. The stock has a market cap of $3.15 billion, a P/E ratio of -10.74 and a beta of 1.99. C3.ai, Inc. has a 52-week low of $17.03 and a 52-week high of $45.08.

C3.ai (NYSE:AI) last posted its earnings results on Wednesday, February 26th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $98.78 million for the quarter, compared to analyst estimates of $98.12 million. On average, equities analysts anticipate that C3.ai, Inc. will post -2.44 earnings per share for the current year.

Insider Buying and Selling at C3.ai

In other C3.ai news, CEO Thomas M. Siebel sold 13,567 shares of C3.ai stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $19.47, for a total value of $264,149.49. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Thomas M. Siebel sold 27,010 shares of C3.ai stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $22.27, for a total value of $601,512.70. Following the completion of the transaction, the chief executive officer now owns 26,115 shares in the company, valued at $581,581.05. This trade represents a 50.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 909,555 shares of company stock valued at $19,166,736 in the last quarter. Corporate insiders own 33.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AI. DA Davidson lowered their price target on C3.ai from $25.00 to $18.00 and set a “neutral” rating for the company in a report on Monday, April 14th. KeyCorp decreased their target price on C3.ai from $21.00 to $17.00 and set an “underweight” rating for the company in a report on Thursday, April 17th. Canaccord Genuity Group decreased their target price on C3.ai from $40.00 to $30.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Morgan Stanley decreased their target price on C3.ai from $30.00 to $20.00 and set an “underweight” rating for the company in a report on Wednesday, April 16th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a report on Thursday, February 27th. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $29.58.

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.