Magnetar Financial LLC Sells 53,728 Shares of C3.ai, Inc. (NYSE:AI)

Magnetar Financial LLC cut its stake in shares of C3.ai, Inc. (NYSE:AI) by 79.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,315 shares of the company’s stock after selling 53,728 shares during the period. Magnetar Financial LLC’s holdings in C3.ai were worth $388,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Toth Financial Advisory Corp raised its stake in shares of C3.ai by 900.0% during the 1st quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock worth $27,000 after purchasing an additional 900 shares during the period. ICA Group Wealth Management LLC bought a new stake in C3.ai in the 4th quarter valued at about $29,000. Pittenger & Anderson Inc. purchased a new position in C3.ai during the 4th quarter valued at about $43,000. DekaBank Deutsche Girozentrale grew its holdings in C3.ai by 229.6% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 3,250 shares of the company’s stock valued at $98,000 after buying an additional 2,264 shares in the last quarter. Finally, Atria Wealth Solutions Inc. purchased a new position in C3.ai during the 4th quarter valued at about $202,000. 38.96% of the stock is currently owned by institutional investors.

C3.ai Price Performance

NYSE:AI remained flat at $27.73 during mid-day trading on Monday. The company had a trading volume of 167,089 shares, compared to its average volume of 6,261,862. The company has a 50 day moving average price of $28.36 and a 200 day moving average price of $27.09. C3.ai, Inc. has a one year low of $20.23 and a one year high of $44.90.

C3.ai (NYSE:AI) last released its earnings results on Wednesday, May 29th. The company reported ($0.59) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.18. The company had revenue of $86.59 million during the quarter, compared to the consensus estimate of $84.45 million. C3.ai had a negative return on equity of 30.95% and a negative net margin of 93.36%. As a group, sell-side analysts anticipate that C3.ai, Inc. will post -2.35 EPS for the current year.

Insider Buying and Selling

In related news, CFO Hitesh Lath sold 3,005 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $27.56, for a total value of $82,817.80. Following the completion of the sale, the chief financial officer now owns 7,390 shares in the company, valued at approximately $203,668.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 34.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

AI has been the subject of a number of recent analyst reports. Wedbush reaffirmed an “outperform” rating and set a $40.00 target price on shares of C3.ai in a report on Wednesday, May 29th. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a report on Thursday, May 30th. Morgan Stanley lifted their target price on C3.ai from $21.00 to $23.00 and gave the company an “underweight” rating in a report on Thursday, May 30th. Piper Sandler cut their price objective on C3.ai from $33.00 to $29.00 and set a “neutral” rating for the company in a report on Thursday, May 30th. Finally, Northland Capmk raised C3.ai from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 30th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $30.33.

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.