Sigma Planning Corp Sells 28,593 Shares of C3.ai, Inc. (NYSE:AI)

Sigma Planning Corp decreased its holdings in C3.ai, Inc. (NYSE:AI) by 69.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,828 shares of the company’s stock after selling 28,593 shares during the period. Sigma Planning Corp’s holdings in C3.ai were worth $368,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Qube Research & Technologies Ltd acquired a new position in shares of C3.ai during the third quarter worth $17,166,000. Vanguard Group Inc. increased its position in shares of C3.ai by 6.7% during the third quarter. Vanguard Group Inc. now owns 10,477,374 shares of the company’s stock worth $267,383,000 after purchasing an additional 659,986 shares in the last quarter. UBS Group AG increased its position in shares of C3.ai by 405.2% during the third quarter. UBS Group AG now owns 183,159 shares of the company’s stock worth $4,674,000 after purchasing an additional 243,169 shares in the last quarter. Citigroup Inc. increased its position in shares of C3.ai by 201.2% during the third quarter. Citigroup Inc. now owns 166,303 shares of the company’s stock worth $4,244,000 after purchasing an additional 111,095 shares in the last quarter. Finally, Seven Eight Capital LP acquired a new position in shares of C3.ai in the 3rd quarter valued at $2,527,000. Institutional investors own 38.96% of the company’s stock.

C3.ai Stock Performance

NYSE:AI opened at $22.83 on Friday. The firm’s fifty day moving average is $26.96 and its two-hundred day moving average is $27.29. C3.ai, Inc. has a one year low of $16.79 and a one year high of $48.87. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of -9.80 and a beta of 1.70.

C3.ai (NYSE:AI) last posted its earnings results on Wednesday, February 28th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.73) by $0.13. C3.ai had a negative net margin of 95.21% and a negative return on equity of 29.60%. The business had revenue of $78.40 million for the quarter, compared to analyst estimates of $75.92 million. As a group, equities research analysts predict that C3.ai, Inc. will post -2.48 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on AI. Wedbush cut their target price on C3.ai from $42.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, February 29th. Piper Sandler upped their target price on C3.ai from $27.00 to $33.00 and gave the company a “neutral” rating in a research report on Monday, March 4th. Bank of America upped their target price on C3.ai from $18.00 to $20.00 and gave the company an “underperform” rating in a research report on Thursday, February 29th. Finally, Canaccord Genuity Group upped their target price on C3.ai from $27.00 to $31.00 and gave the company a “hold” rating in a research report on Thursday, February 29th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $31.50.

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.