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

Commonwealth Equity Services LLC boosted its position in shares of C3.ai, Inc. (NYSE:AI) by 11.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 49,891 shares of the company’s stock after purchasing an additional 5,167 shares during the period. Commonwealth Equity Services LLC’s holdings in C3.ai were worth $1,718,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Brown Lisle Cummings Inc. grew its holdings in C3.ai by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock valued at $28,000 after purchasing an additional 400 shares during the period. R Squared Ltd purchased a new stake in C3.ai during the fourth quarter valued at approximately $29,000. CENTRAL TRUST Co purchased a new position in shares of C3.ai during the 4th quarter worth about $34,000. Global Retirement Partners LLC grew its position 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 acquiring an additional 1,014 shares during the last quarter. Finally, Quest Partners LLC increased its position in shares of C3.ai by 9,033.3% during the third quarter. Quest Partners LLC now owns 1,644 shares of the company’s stock worth $40,000 after acquiring an additional 1,626 shares during the period. 38.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on AI shares. Northland Securities lifted their price target on shares of C3.ai from $35.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. DA Davidson decreased their target price on C3.ai from $40.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a report on Thursday, February 27th. KeyCorp reduced their price objective on 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, Morgan Stanley dropped their price target on shares of C3.ai from $32.00 to $30.00 and set an “underweight” rating for the company in a research note on Thursday, February 27th. Five analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $31.33.

C3.ai Price Performance

Shares of 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. C3.ai, Inc. has a 1 year low of $18.85 and a 1 year high of $45.08. The firm’s 50-day moving average is $27.55 and its two-hundred day moving average is $29.32.

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

Insider Activity

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

About C3.ai

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.