Oppenheimer & Co. Inc. Trims Stock Holdings in C3.ai, Inc. (NYSE:AI)

Oppenheimer & Co. Inc. lessened its stake in shares of C3.ai, Inc. (NYSE:AI) by 6.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,470 shares of the company’s stock after selling 3,512 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in C3.ai were worth $1,841,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its holdings in shares of C3.ai by 12.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock valued at $20,460,000 after buying an additional 92,280 shares during the period. PDT Partners LLC purchased a new stake in C3.ai during the third quarter worth about $1,624,000. Janney Montgomery Scott LLC increased its stake in C3.ai by 70.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 55,339 shares of the company’s stock worth $1,905,000 after purchasing an additional 22,949 shares during the period. Strategic Financial Concepts LLC acquired a new stake in shares of C3.ai during the fourth quarter worth about $2,015,000. Finally, Friedenthal Financial purchased a new position in shares of C3.ai in the fourth quarter valued at approximately $757,000. 38.96% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other C3.ai 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 value of $18,252,022.88. Following the transaction, the chief executive officer now directly owns 1,336,968 shares in the company, valued at approximately $44,173,422.72. The trade was a 29.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard C. Levin sold 12,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $29.84, for a total transaction of $358,080.00. Following the sale, the director now owns 161,664 shares of the company’s stock, valued at $4,824,053.76. This trade represents a 6.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,643,311 shares of company stock valued at $59,736,620 over the last quarter. Company insiders own 33.54% of the company’s stock.

C3.ai Trading Down 6.0 %

AI stock opened at $22.05 on Tuesday. The company’s 50 day moving average is $32.13 and its two-hundred day moving average is $29.58. C3.ai, Inc. has a twelve month low of $18.85 and a twelve month high of $45.08. The stock has a market cap of $2.85 billion, a P/E ratio of -9.98 and a beta of 1.98.

C3.ai (NYSE:AI) last released its quarterly earnings data 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 net margin of 79.17% and a negative return on equity of 31.31%. The company had revenue of $98.78 million during the quarter, compared to analyst estimates of $98.12 million. On average, equities research analysts predict that C3.ai, Inc. will post -2.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on AI shares. Northland Securities upped their target price 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. JMP Securities upped their price objective on C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a research report on Tuesday, December 10th. StockNews.com upgraded C3.ai to a “sell” rating in a report on Tuesday, November 26th. KeyCorp cut their price target on C3.ai from $29.00 to $21.00 and set an “underweight” rating on the stock in a report on Thursday, February 27th. Finally, Piper Sandler decreased their price objective on C3.ai from $42.00 to $28.00 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 given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $31.33.

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.