C3.ai, Inc. (NYSE:AI) Major Shareholder Group Holdings (Sbs) Advis Tpg Sells 709,475 Shares

C3.ai, Inc. (NYSE:AI) major shareholder Group Holdings (Sbs) Advis Tpg sold 709,475 shares of the company’s stock in a transaction dated Wednesday, June 9th. The shares were sold at an average price of $64.85, for a total value of $46,009,453.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Group Holdings (Sbs) Advis Tpg also recently made the following trade(s):

  • On Monday, June 7th, Group Holdings (Sbs) Advis Tpg sold 2,500,000 shares of C3.ai stock. The shares were sold at an average price of $62.67, for a total value of $156,675,000.00.
  • On Monday, March 22nd, Group Holdings (Sbs) Advis Tpg sold 600,000 shares of C3.ai stock. The shares were sold at an average price of $76.06, for a total value of $45,636,000.00.
  • On Monday, March 15th, Group Holdings (Sbs) Advis Tpg sold 1,129,156 shares of C3.ai stock. The shares were sold at an average price of $87.54, for a total value of $98,846,316.24.

Shares of AI traded down $4.02 during mid-day trading on Thursday, hitting $58.08. 8,197,678 shares of the company’s stock were exchanged, compared to its average volume of 3,942,974. The firm has a market capitalization of $5.86 billion and a P/E ratio of -65.13. C3.ai, Inc. has a 52 week low of $47.22 and a 52 week high of $183.90. The stock has a 50-day moving average of $62.67.

C3.ai (NYSE:AI) last issued its quarterly earnings results on Tuesday, June 1st. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.05. The business had revenue of $52.28 million for the quarter, compared to the consensus estimate of $50.60 million. The firm’s quarterly revenue was up 25.6% on a year-over-year basis. Equities research analysts predict that C3.ai, Inc. will post -1.12 EPS for the current fiscal year.

A number of brokerages have recently commented on AI. Needham & Company LLC lowered their price target on C3.ai from $195.00 to $146.00 and set a “buy” rating for the company in a research note on Thursday, June 3rd. They noted that the move was a valuation call. Morgan Stanley increased their target price on C3.ai from $60.00 to $62.00 and gave the stock an “underweight” rating in a research note on Thursday, June 3rd. Deutsche Bank Aktiengesellschaft lowered their target price on C3.ai from $98.00 to $63.00 and set a “hold” rating for the company in a research note on Thursday, June 3rd. Canaccord Genuity lowered their target price on C3.ai from $120.00 to $75.00 and set a “hold” rating for the company in a research note on Thursday, June 3rd. They noted that the move was a valuation call. Finally, Wedbush lowered their target price on C3.ai from $175.00 to $100.00 and set an “outperform” rating for the company in a research note on Thursday, June 3rd. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. C3.ai currently has a consensus rating of “Hold” and an average target price of $107.22.

Several institutional investors and hedge funds have recently modified their holdings of the company. Rehmann Capital Advisory Group bought a new position in shares of C3.ai during the 1st quarter worth approximately $575,000. Sunbelt Securities Inc. acquired a new stake in shares of C3.ai in the 1st quarter valued at approximately $287,000. Squarepoint Ops LLC boosted its holdings in shares of C3.ai by 6.0% in the 1st quarter. Squarepoint Ops LLC now owns 74,742 shares of the company’s stock valued at $4,926,000 after buying an additional 4,242 shares during the last quarter. Morgan Stanley boosted its holdings in shares of C3.ai by 349.8% in the 1st quarter. Morgan Stanley now owns 1,196,102 shares of the company’s stock valued at $78,835,000 after buying an additional 930,171 shares during the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of C3.ai in the 1st quarter valued at approximately $7,905,000. 46.16% of the stock is owned by institutional investors.

About C3.ai

C3.ai, Inc operates as an enterprise artificial intelligence (AI) software company. The company provides software-as-a-service applications for enterprises. Its software solutions include C3 AI Suite, a platform-as-a-service application development and runtime environment that enables customers to design, develop, and deploy enterprise AI applications; and C3 AI Applications, which include industry-specific and application-specific turnkey AI solutions.

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