Commonwealth Equity Services LLC Acquires 5,167 Shares of C3.ai, Inc. (NYSE:AI)

Commonwealth Equity Services LLC lifted its stake in C3.ai, Inc. (NYSE:AI) by 11.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,891 shares of the company’s stock after acquiring an additional 5,167 shares during the period. Commonwealth Equity Services LLC’s holdings in C3.ai were worth $1,718,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brown Lisle Cummings Inc. raised its holdings in C3.ai by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock valued at $28,000 after acquiring an additional 400 shares in the last quarter. R Squared Ltd bought a new position in C3.ai in the fourth quarter worth $29,000. CENTRAL TRUST Co acquired a new stake in C3.ai during the fourth quarter worth $34,000. Global Retirement Partners LLC increased its holdings in C3.ai by 1,004.0% in the 4th quarter. Global Retirement Partners LLC now owns 1,115 shares of the company’s stock valued at $38,000 after buying an additional 1,014 shares during the period. Finally, Quest Partners LLC raised its stake in shares of C3.ai by 9,033.3% in the 3rd quarter. Quest Partners LLC now owns 1,644 shares of the company’s stock valued at $40,000 after buying an additional 1,626 shares in the last quarter. Institutional investors own 38.96% of the company’s stock.

Wall Street Analyst Weigh In

AI has been the topic of several recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research note on Thursday, February 27th. JMP Securities boosted their target price on shares of C3.ai from $40.00 to $55.00 and gave the company a “market outperform” rating in a research note on Tuesday, December 10th. DA Davidson dropped their target price on shares of C3.ai from $40.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. KeyCorp reduced their price target on shares of C3.ai from $29.00 to $21.00 and set an “underweight” rating on the stock in a research report on Thursday, February 27th. Finally, JPMorgan Chase & Co. lowered shares of C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price objective for the company. in a report on Wednesday, December 11th. Five 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $31.33.

C3.ai Stock Down 3.2 %

NYSE:AI opened at $21.81 on Friday. The firm has a market capitalization of $2.89 billion, a PE ratio of -9.87 and a beta of 2.03. The stock’s 50-day simple moving average is $27.55 and its 200 day simple moving average is $29.32. C3.ai, Inc. has a twelve month low of $18.85 and a twelve month high of $45.08.

C3.ai (NYSE:AI) last posted its earnings results on Wednesday, February 26th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.37). The firm had revenue of $98.78 million during the quarter, compared to the consensus estimate of $98.12 million. C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. On average, analysts anticipate that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Richard C. Levin sold 12,000 shares of C3.ai stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $34.80, for a total transaction of $417,600.00. Following the completion of the sale, the director now directly owns 161,664 shares of the company’s stock, valued at approximately $5,625,907.20. The trade was a 6.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Merel Witteveen sold 1,133 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $22.25, for a total value of $25,209.25. Following the completion of the sale, the vice president now directly owns 7,287 shares of the company’s stock, valued at approximately $162,135.75. This represents a 13.46 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,510,546 shares of company stock valued at $43,235,262. 33.54% of the stock is owned by company insiders.

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.