Wellington Management Group LLP Makes New $4.29 Million Investment in C3.ai, Inc. (NYSE:AI)

Wellington Management Group LLP purchased a new stake in C3.ai, Inc. (NYSE:AI) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 124,499 shares of the company’s stock, valued at approximately $4,287,000. Wellington Management Group LLP owned about 0.10% of C3.ai as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Brown Lisle Cummings Inc. increased its holdings in C3.ai by 100.0% in the 4th 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 last quarter. R Squared Ltd purchased a new position in shares of C3.ai during the fourth quarter worth $29,000. WealthTrak Capital Management LLC acquired a new stake in shares of C3.ai in the fourth quarter valued at $33,000. CENTRAL TRUST Co purchased a new stake in shares of C3.ai in the 4th quarter valued at $34,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in C3.ai during the 4th quarter worth about $36,000. 38.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at C3.ai

In other news, CEO Thomas M. Siebel sold 409,831 shares of C3.ai stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $30.97, for a total value of $12,692,466.07. Following the transaction, the chief executive officer now directly owns 1,756,390 shares of the company’s stock, valued at $54,395,398.30. The trade was a 18.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Merel Witteveen sold 1,133 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $22.25, for a total transaction of $25,209.25. Following the sale, the vice president now owns 7,287 shares of the company’s stock, valued at approximately $162,135.75. This represents a 13.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,486,813 shares of company stock worth $42,407,563 over the last 90 days. Corporate insiders own 33.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. DA Davidson dropped their target price on C3.ai from $40.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. KeyCorp cut their target price on shares of C3.ai from $29.00 to $21.00 and set an “underweight” rating on the stock in a research note on Thursday, February 27th. Canaccord Genuity Group decreased their price target on shares of C3.ai from $40.00 to $30.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research report on Thursday, February 27th. Finally, Piper Sandler decreased their target price on C3.ai from $42.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Five research analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $31.33.

C3.ai Stock Performance

Shares of NYSE AI opened at $20.55 on Friday. The stock’s 50-day simple moving average is $24.61 and its 200-day simple moving average is $29.08. The firm has a market capitalization of $2.73 billion, a PE ratio of -9.30 and a beta of 2.01. C3.ai, Inc. has a fifty-two week low of $17.03 and a fifty-two week high of $45.08.

C3.ai (NYSE:AI) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $98.78 million for the quarter, compared to analyst estimates of $98.12 million. On average, sell-side analysts forecast that C3.ai, Inc. will post -2.44 earnings per share for the current fiscal year.

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.