C3.ai, Inc. (NYSE:AI) Shares Bought by Cerity Partners LLC

Cerity Partners LLC raised its holdings in C3.ai, Inc. (NYSE:AI) by 16.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,073 shares of the company’s stock after buying an additional 3,791 shares during the period. Cerity Partners LLC’s holdings in C3.ai were worth $570,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Russell Investments Group Ltd. grew its holdings in shares of C3.ai by 100.7% during the fourth quarter. Russell Investments Group Ltd. now owns 909 shares of the company’s stock worth $31,000 after purchasing an additional 456 shares during the last quarter. WealthTrak Capital Management LLC purchased a new position in shares of C3.ai during the fourth quarter worth about $33,000. Orion Capital Management LLC purchased a new position in shares of C3.ai during the fourth quarter worth about $34,000. Raiffeisen Bank International AG purchased a new position in shares of C3.ai during the fourth quarter worth about $36,000. Finally, Garde Capital Inc. purchased a new position in shares of C3.ai during the first quarter worth about $29,000. 38.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Morgan Stanley raised their price target on C3.ai from $20.00 to $22.00 and gave the stock an “underweight” rating in a report on Thursday, May 29th. DA Davidson lowered their price target on C3.ai from $25.00 to $18.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. JMP Securities reissued a “market outperform” rating and set a $50.00 price target on shares of C3.ai in a report on Friday. Piper Sandler lowered their price target on C3.ai from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Thursday, May 29th. Finally, Canaccord Genuity Group lowered their price target on C3.ai from $30.00 to $28.00 and set a “hold” rating on the stock in a report on Thursday, May 29th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $29.79.

Insiders Place Their Bets

In related news, Director Richard C. Levin sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $26.31, for a total value of $157,860.00. Following the completion of the sale, the director owned 161,664 shares of the company’s stock, valued at $4,253,379.84. This trade represents a 3.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John E. Hyten sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $23.75, for a total transaction of $237,500.00. Following the completion of the sale, the director directly owned 63,942 shares of the company’s stock, valued at approximately $1,518,622.50. This represents a 13.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,989,902 shares of company stock valued at $51,379,600 in the last quarter. 33.54% of the stock is currently owned by insiders.

C3.ai Stock Up 0.0%

C3.ai stock opened at $26.01 on Friday. The company’s fifty day simple moving average is $25.32 and its 200-day simple moving average is $25.44. C3.ai, Inc. has a 12 month low of $17.03 and a 12 month high of $45.08. The stock has a market cap of $3.50 billion, a P/E ratio of -11.61 and a beta of 1.99.

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

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.