Moors & Cabot Inc. Has $376,000 Stake in C3.ai, Inc. (NYSE:AI)

Moors & Cabot Inc. cut its stake in shares of C3.ai, Inc. (NYSE:AI) by 4.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 10,913 shares of the company’s stock after selling 500 shares during the quarter. Moors & Cabot Inc.’s holdings in C3.ai were worth $376,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in AI. Geode Capital Management LLC raised its position in shares of C3.ai by 8.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,216,925 shares of the company’s stock worth $53,728,000 after acquiring an additional 178,870 shares in the last quarter. State Street Corp grew its stake in C3.ai by 1.8% during the third quarter. State Street Corp now owns 2,121,391 shares of the company’s stock worth $51,401,000 after purchasing an additional 38,185 shares during the period. Charles Schwab Investment Management Inc. increased 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 purchasing an additional 88,750 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in C3.ai by 1.3% in the fourth quarter. Bank of New York Mellon Corp now owns 695,893 shares of the company’s stock valued at $23,960,000 after buying an additional 8,772 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of C3.ai by 39.4% during the 4th quarter. Rhumbline Advisers now owns 166,378 shares of the company’s stock worth $5,728,000 after buying an additional 47,028 shares in the last quarter. Institutional investors own 38.96% of the company’s stock.

Insider Buying and Selling

In related news, Director Jim H. Snabe sold 499,700 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $43.05, for a total transaction of $21,512,085.00. Following the completion of the sale, the director now owns 10,000 shares in the company, valued at approximately $430,500. This trade represents a 98.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Hitesh Lath sold 3,949 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $42.36, for a total transaction of $167,279.64. Following the completion of the transaction, the chief financial officer now owns 851 shares in the company, valued at approximately $36,048.36. The trade was a 82.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,501,972 shares of company stock worth $53,818,532. 33.54% of the stock is owned by company insiders.

C3.ai Trading Up 3.1 %

NYSE AI opened at $21.57 on Friday. The business has a fifty day simple moving average of $29.62 and a 200 day simple moving average of $29.36. C3.ai, Inc. has a 12 month low of $18.85 and a 12 month high of $45.08. The firm has a market capitalization of $2.78 billion, a P/E ratio of -9.76 and a beta of 2.03.

C3.ai (NYSE:AI) last announced 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). C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. The firm had revenue of $98.78 million during the quarter, compared to analysts’ expectations of $98.12 million. As a group, sell-side analysts predict that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Piper Sandler lowered their price objective on shares of C3.ai from $42.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. DA Davidson dropped their price objective on shares of C3.ai from $40.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Canaccord Genuity Group cut their price objective on shares of C3.ai from $40.00 to $30.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. JPMorgan Chase & Co. lowered C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 target price for the company. in a research report on Wednesday, December 11th. Finally, Northland Securities increased their price target on C3.ai from $35.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Five analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, C3.ai currently has a consensus rating of “Hold” and an average price target of $31.33.

C3.ai Company 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.