16,504 Shares in C3.ai, Inc. (NYSE:AI) Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas purchased a new position in C3.ai, Inc. (NYSE:AI) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,504 shares of the company’s stock, valued at approximately $347,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its stake in shares of C3.ai by 100.7% in the fourth quarter. Russell Investments Group Ltd. now owns 909 shares of the company’s stock worth $31,000 after acquiring an additional 456 shares during the last quarter. WealthTrak Capital Management LLC purchased a new stake in shares of C3.ai in the fourth quarter worth $33,000. Orion Capital Management LLC purchased a new stake in shares of C3.ai in the fourth quarter worth $34,000. Raiffeisen Bank International AG purchased a new stake in shares of C3.ai in the fourth quarter worth $36,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of C3.ai in the fourth quarter worth $36,000. 38.96% of the stock is owned by hedge funds and other institutional investors.

C3.ai Price Performance

NYSE AI opened at $28.70 on Friday. The stock has a market capitalization of $3.86 billion, a PE ratio of -12.81 and a beta of 1.99. The business has a 50 day simple moving average of $24.95 and a two-hundred day simple moving average of $25.72. C3.ai, Inc. has a 1-year low of $17.03 and a 1-year high of $45.08.

C3.ai (NYSE:AI) last released its quarterly earnings results on Wednesday, May 28th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.04. The business had revenue of $108.72 million during the quarter, compared to analysts’ expectations of $107.85 million. C3.ai had a negative return on equity of 33.51% and a negative net margin of 74.21%. The firm’s revenue for the quarter was up 25.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.11) EPS. On average, analysts anticipate that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. lowered their target price on C3.ai from $27.00 to $23.00 and set an “underweight” rating on the stock in a report on Thursday, May 29th. Oppenheimer lowered their target price on C3.ai from $56.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday, May 29th. DA Davidson lowered their target price on C3.ai from $25.00 to $18.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Morgan Stanley increased their target price on C3.ai from $20.00 to $22.00 and gave the company an “underweight” rating in a report on Thursday, May 29th. Finally, Wall Street Zen raised C3.ai from a “sell” rating to a “hold” rating in a report on Saturday, July 12th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, C3.ai presently has an average rating of “Hold” and an average target price of $30.14.

Insider Buying and Selling

In related news, Director Richard C. Levin sold 6,000 shares of the business’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $26.31, for a total transaction of $157,860.00. Following the completion of the transaction, the director owned 161,664 shares in the company, valued at $4,253,379.84. The trade was a 3.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John E. Hyten sold 10,000 shares of the business’s stock in a transaction on Friday, June 13th. The shares were sold at an average price of $23.75, for a total value of $237,500.00. Following the transaction, the director owned 63,942 shares of the company’s stock, valued at approximately $1,518,622.50. The trade was a 13.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,400,434 shares of company stock valued at $34,532,605 over the last 90 days. 33.54% of the stock is currently owned by insiders.

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.