Kingswood Wealth Advisors LLC Acquires New Position in C3.ai, Inc. (NYSE:AI)

Kingswood Wealth Advisors LLC purchased a new position in C3.ai, Inc. (NYSE:AI) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,176 shares of the company’s stock, valued at approximately $275,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Strategic Planning Group LLC grew its position in C3.ai by 31.4% in the 1st quarter. Strategic Planning Group LLC now owns 43,001 shares of the company’s stock worth $1,164,000 after purchasing an additional 10,264 shares during the period. Global Assets Advisory LLC grew its holdings in shares of C3.ai by 2,547.8% in the first quarter. Global Assets Advisory LLC now owns 896,676 shares of the company’s stock worth $24,273,000 after acquiring an additional 862,811 shares during the period. Optimum Investment Advisors increased its position in C3.ai by 188.7% during the first quarter. Optimum Investment Advisors now owns 8,568 shares of the company’s stock valued at $232,000 after acquiring an additional 5,600 shares during the last quarter. Banque Cantonale Vaudoise lifted its holdings in C3.ai by 283.5% in the first quarter. Banque Cantonale Vaudoise now owns 12,183 shares of the company’s stock valued at $329,000 after acquiring an additional 9,006 shares during the period. Finally, EWG Elevate Inc. boosted its position in C3.ai by 7.5% in the first quarter. EWG Elevate Inc. now owns 9,538 shares of the company’s stock worth $258,000 after purchasing an additional 662 shares during the last quarter. 38.96% of the stock is owned by institutional investors.

Insider Activity at C3.ai

In other C3.ai news, CFO Hitesh Lath sold 3,005 shares of the stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $27.56, for a total transaction of $82,817.80. Following the completion of the transaction, the chief financial officer now owns 7,390 shares in the company, valued at $203,668.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 34.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on AI shares. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a research report on Thursday, May 30th. Northland Securities upgraded C3.ai from a “market perform” rating to an “outperform” rating and set a $35.00 target price on the stock in a research report on Thursday, May 30th. Piper Sandler reduced their price target on C3.ai from $33.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, May 30th. Morgan Stanley lifted their price objective on C3.ai from $21.00 to $23.00 and gave the company an “underweight” rating in a research report on Thursday, May 30th. Finally, Northland Capmk raised shares of C3.ai from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 30th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $31.30.

C3.ai Stock Up 1.4 %

AI opened at $28.96 on Friday. The company has a market capitalization of $3.53 billion, a PE ratio of -12.38 and a beta of 1.85. The firm has a 50-day simple moving average of $26.41 and a two-hundred day simple moving average of $27.16. C3.ai, Inc. has a 52 week low of $20.23 and a 52 week high of $44.90.

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

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.