Signaturefd LLC increased its position in shares of C3.ai, Inc. (NYSE:AI – Free Report) by 257.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,983 shares of the company’s stock after acquiring an additional 1,428 shares during the quarter. Signaturefd LLC’s holdings in C3.ai were worth $67,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of C3.ai by 29.1% in the third quarter. Vanguard Group Inc. now owns 9,042,202 shares of the company’s stock valued at $113,028,000 after acquiring an additional 2,037,342 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of C3.ai by 3.8% in the third quarter. BlackRock Inc. now owns 5,717,608 shares of the company’s stock worth $71,470,000 after acquiring an additional 208,386 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of C3.ai by 39.3% in the first quarter. Renaissance Technologies LLC now owns 2,412,200 shares of the company’s stock worth $54,757,000 after acquiring an additional 680,700 shares during the last quarter. State Street Corp increased its stake in shares of C3.ai by 6.3% in the third quarter. State Street Corp now owns 1,595,793 shares of the company’s stock valued at $19,947,000 after buying an additional 94,689 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of C3.ai by 4.7% in the first quarter. Bank of New York Mellon Corp now owns 742,737 shares of the company’s stock valued at $16,861,000 after buying an additional 33,060 shares during the period. Institutional investors own 45.63% of the company’s stock.
Analyst Ratings Changes
Several analysts have recently commented on the stock. Northland Securities started coverage on shares of C3.ai in a research report on Tuesday. They set a “market perform” rating and a $40.00 price objective for the company. Bank of America raised their price objective on C3.ai from $16.00 to $18.00 in a research note on Thursday, June 1st. Wedbush upgraded C3.ai from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $24.00 to $50.00 in a research note on Thursday, June 1st. JMP Securities lifted their target price on C3.ai from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Wolfe Research cut C3.ai from a “market perform” rating to an “underperform” rating and set a $14.00 target price on the stock. in a research note on Monday, April 24th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, C3.ai has a consensus rating of “Hold” and a consensus price target of $25.83.
C3.ai Price Performance
C3.ai (NYSE:AI – Get Free Report) last announced its quarterly earnings data on Wednesday, May 31st. The company reported ($0.58) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.08. C3.ai had a negative return on equity of 28.23% and a negative net margin of 100.77%. The business had revenue of $72.41 million for the quarter, compared to analyst estimates of $72.32 million. On average, analysts expect that C3.ai, Inc. will post -2.14 EPS for the current year.
Insiders Place Their Bets
In other C3.ai news, CFO Juho Parkkinen sold 4,438 shares of the stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $18.11, for a total transaction of $80,372.18. Following the transaction, the chief financial officer now owns 336,971 shares in the company, valued at $6,102,544.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Richard C. Levin sold 12,000 shares of the business’s stock in a transaction dated Friday, July 7th. The stock was sold at an average price of $42.02, for a total value of $504,240.00. Following the transaction, the director now owns 173,664 shares in the company, valued at approximately $7,297,361.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Juho Parkkinen sold 4,438 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $18.11, for a total value of $80,372.18. Following the transaction, the chief financial officer now owns 336,971 shares in the company, valued at approximately $6,102,544.81. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 622,243 shares of company stock worth $21,596,080. 38.08% of the stock is owned by corporate 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.
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