Mission Wealth Management LP Sells 3,162 Shares of C3.ai, Inc. (NYSE:AI)

Mission Wealth Management LP trimmed its holdings in shares of C3.ai, Inc. (NYSE:AI) by 20.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,383 shares of the company’s stock after selling 3,162 shares during the quarter. Mission Wealth Management LP’s holdings in C3.ai were worth $426,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Brown Lisle Cummings Inc. lifted its holdings in C3.ai by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock valued at $28,000 after purchasing an additional 400 shares in the last quarter. R Squared Ltd purchased a new position in C3.ai during the fourth quarter valued at approximately $29,000. CENTRAL TRUST Co purchased a new position in C3.ai during the fourth quarter valued at approximately $34,000. Global Retirement Partners LLC lifted its holdings in C3.ai by 1,004.0% during the fourth quarter. Global Retirement Partners LLC now owns 1,115 shares of the company’s stock valued at $38,000 after purchasing an additional 1,014 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in C3.ai by 72.4% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,322 shares of the company’s stock valued at $46,000 after purchasing an additional 555 shares in the last quarter. 38.96% of the stock is currently owned by institutional investors.

C3.ai Stock Performance

Shares of AI opened at $22.70 on Thursday. C3.ai, Inc. has a fifty-two week low of $18.85 and a fifty-two week high of $45.08. The stock has a market capitalization of $2.93 billion, a PE ratio of -10.27 and a beta of 1.98. The company’s fifty day moving average is $31.59 and its 200 day moving average is $29.51.

C3.ai (NYSE:AI) last posted 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 net margin of 79.17% and a negative return on equity of 31.31%. The firm had revenue of $98.78 million for the quarter, compared to the consensus estimate of $98.12 million. As a group, research analysts forecast that C3.ai, Inc. will post -2.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AI has been the topic of several research analyst reports. Canaccord Genuity Group lowered their target price on shares of C3.ai from $40.00 to $30.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. KeyCorp lowered their target price on shares of C3.ai from $29.00 to $21.00 and set an “underweight” rating on the stock in a report on Thursday, February 27th. StockNews.com raised shares of C3.ai to a “sell” rating in a report on Tuesday, November 26th. Morgan Stanley lowered their target price on shares of C3.ai from $32.00 to $30.00 and set an “underweight” rating on the stock in a report on Thursday, February 27th. Finally, JMP Securities boosted their target price on shares of C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a report on Tuesday, December 10th. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $31.33.

Insider Buying and Selling at C3.ai

In other C3.ai news, Director Stephen M. Ward, Jr. sold 125,000 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $42.00, for a total transaction of $5,250,000.00. Following the transaction, the director now owns 546,495 shares in the company, valued at $22,952,790. The trade was a 18.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Merel Witteveen sold 11,132 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $34.95, for a total transaction of $389,063.40. Following the transaction, the vice president now owns 4,142 shares in the company, valued at $144,762.90. This trade represents a 72.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,643,311 shares of company stock worth $59,736,620 over the last quarter. Insiders own 33.54% of the company’s stock.

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.