Voya Investment Management LLC Sells 3,893,122 Shares of C3.ai, Inc. $AI

Voya Investment Management LLC trimmed its position in shares of C3.ai, Inc. (NYSE:AI) by 99.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,779 shares of the company’s stock after selling 3,893,122 shares during the quarter. Voya Investment Management LLC’s holdings in C3.ai were worth $378,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of AI. Bogart Wealth LLC increased its position in C3.ai by 22.7% during the second quarter. Bogart Wealth LLC now owns 2,700 shares of the company’s stock valued at $66,000 after acquiring an additional 500 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of C3.ai by 2.4% during the 2nd quarter. ProShare Advisors LLC now owns 25,548 shares of the company’s stock valued at $628,000 after purchasing an additional 593 shares during the period. Moors & Cabot Inc. increased its position in shares of C3.ai by 5.2% during the 2nd quarter. Moors & Cabot Inc. now owns 14,263 shares of the company’s stock valued at $350,000 after purchasing an additional 700 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in shares of C3.ai by 6.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 12,365 shares of the company’s stock valued at $304,000 after purchasing an additional 791 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its stake in shares of C3.ai by 48.7% in the 1st quarter. NewEdge Advisors LLC now owns 2,442 shares of the company’s stock worth $51,000 after purchasing an additional 800 shares during the period. Institutional investors own 38.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AI. DA Davidson reaffirmed an “underperform” rating and set a $13.00 target price on shares of C3.ai in a report on Thursday, December 4th. UBS Group upped their price objective on C3.ai from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Friday, September 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a report on Thursday, December 4th. Wedbush reiterated an “outperform” rating and set a $20.00 target price on shares of C3.ai in a research report on Thursday, December 4th. Finally, Morgan Stanley cut their price target on C3.ai from $22.00 to $11.00 and set an “underweight” rating for the company in a report on Tuesday, September 9th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $21.92.

Insider Buying and Selling

In related news, Chairman Thomas M. Siebel sold 140,768 shares of C3.ai stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $14.22, for a total transaction of $2,001,720.96. Following the sale, the chairman owned 941,845 shares of the company’s stock, valued at approximately $13,393,035.90. This trade represents a 13.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Stephen Bradley Ehikian sold 234,918 shares of the business’s stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $13.56, for a total value of $3,185,488.08. Following the completion of the transaction, the chief executive officer directly owned 924,074 shares in the company, valued at approximately $12,530,443.44. This represents a 20.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 1,948,845 shares of company stock worth $30,849,644. 26.50% of the stock is owned by corporate insiders.

C3.ai Price Performance

Shares of AI stock opened at $13.70 on Friday. C3.ai, Inc. has a one year low of $12.59 and a one year high of $38.58. The company’s fifty day moving average price is $14.86 and its 200-day moving average price is $18.69. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of -4.84 and a beta of 1.97.

C3.ai (NYSE:AI) last issued its earnings results on Wednesday, December 3rd. The company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.08. The company had revenue of $75.15 million during the quarter, compared to the consensus estimate of $74.86 million. C3.ai had a negative net margin of 108.06% and a negative return on equity of 46.51%. C3.ai’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.06) EPS. Equities research analysts expect that C3.ai, Inc. will post -2.44 earnings per share for the current fiscal year.

C3.ai Profile

C3.ai, Inc is a leading enterprise software provider focused on delivering scalable artificial intelligence (AI) and Internet of Things (IoT) solutions to large organizations. The company’s core offering, the C3 AI Suite, is a comprehensive, model-driven platform that unifies data ingestion, model development, and application deployment. Through its suite of tools, C3.ai enables customers to accelerate digital transformation initiatives by applying advanced machine learning, predictive analytics, and AI-driven insights across a broad range of business functions.

The C3 AI Suite provides a low-code environment for data scientists and application developers to rapidly design, test, and deploy enterprise-scale AI applications.