Versor Investments LP Buys New Position in C3.ai, Inc. (NYSE:AI)

Versor Investments LP purchased a new position in shares of C3.ai, Inc. (NYSE:AI) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 12,030 shares of the company’s stock, valued at approximately $348,000.

Several other institutional investors also recently added to or reduced their stakes in AI. Principal Financial Group Inc. raised its holdings in shares of C3.ai by 4.3% in the second quarter. Principal Financial Group Inc. now owns 11,165 shares of the company’s stock valued at $323,000 after buying an additional 462 shares during the last quarter. Forum Financial Management LP increased its holdings in C3.ai by 4.4% in the second quarter. Forum Financial Management LP now owns 12,893 shares of the company’s stock valued at $373,000 after buying an additional 539 shares in the last quarter. EP Wealth Advisors LLC lifted its position in shares of C3.ai by 6.2% during the 1st quarter. EP Wealth Advisors LLC now owns 10,239 shares of the company’s stock valued at $277,000 after acquiring an additional 600 shares during the period. Blue Trust Inc. boosted its stake in shares of C3.ai by 148.9% during the 2nd quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock worth $28,000 after acquiring an additional 615 shares in the last quarter. Finally, EWG Elevate Inc. grew its holdings in shares of C3.ai by 7.5% in the 1st quarter. EWG Elevate Inc. now owns 9,538 shares of the company’s stock worth $258,000 after acquiring an additional 662 shares during the period. Institutional investors and hedge funds own 38.96% of the company’s stock.

C3.ai Trading Down 8.2 %

NYSE:AI opened at $21.12 on Friday. The firm’s fifty day simple moving average is $26.31 and its 200 day simple moving average is $26.69. C3.ai, Inc. has a twelve month low of $18.85 and a twelve month high of $38.30. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of -9.03 and a beta of 1.83.

C3.ai (NYSE:AI) last issued its quarterly earnings data on Wednesday, September 4th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.08. C3.ai had a negative return on equity of 30.95% and a negative net margin of 93.36%. The company had revenue of $87.21 million for the quarter, compared to analysts’ expectations of $86.94 million. During the same quarter in the previous year, the firm posted ($0.56) earnings per share. The firm’s quarterly revenue was up 20.5% on a year-over-year basis. On average, analysts predict that C3.ai, Inc. will post -2.35 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Hitesh Lath sold 3,005 shares of the business’s 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 transaction, the chief financial officer now directly owns 7,390 shares of the company’s stock, valued at $203,668.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 34.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

AI has been the topic of a number of recent analyst reports. DA Davidson reduced their price target on C3.ai from $30.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research report on Thursday. Morgan Stanley lowered their price target on C3.ai from $23.00 to $21.00 and set an “underweight” rating for the company in a report on Thursday. JMP Securities reiterated a “market outperform” rating and set a $40.00 price objective on shares of C3.ai in a report on Thursday. Finally, Bank of America decreased their target price on shares of C3.ai from $24.00 to $20.00 and set an “underperform” rating on the stock in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $27.70.

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.