C3.ai, Inc. (NYSE:AI) Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its holdings in shares of C3.ai, Inc. (NYSE:AI) by 44.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,180 shares of the company’s stock after acquiring an additional 4,941 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in C3.ai were worth $557,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in AI. Two Sigma Investments LP acquired a new position in shares of C3.ai during the 4th quarter worth about $42,306,000. Man Group plc acquired a new position in shares of C3.ai during the 4th quarter worth about $38,455,000. Two Sigma Advisers LP acquired a new position in shares of C3.ai during the 4th quarter worth about $30,725,000. Renaissance Technologies LLC boosted its position in shares of C3.ai by 1,242.5% during the 4th quarter. Renaissance Technologies LLC now owns 718,231 shares of the company’s stock worth $24,729,000 after acquiring an additional 664,731 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of C3.ai by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 12,935,969 shares of the company’s stock worth $445,385,000 after acquiring an additional 446,529 shares in the last quarter. 38.96% of the stock is owned by institutional investors and hedge funds.

C3.ai Stock Down 3.8%

AI opened at $24.64 on Thursday. The business has a 50 day moving average price of $22.53 and a two-hundred day moving average price of $28.02. The company has a market cap of $3.27 billion, a PE ratio of -11.15 and a beta of 2.04. C3.ai, Inc. has a 52 week low of $17.03 and a 52 week high of $45.08.

C3.ai (NYSE:AI) last posted its quarterly earnings data on Wednesday, May 28th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.04. The firm had revenue of $108.72 million during the quarter, compared to the consensus estimate of $107.85 million. C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. The firm’s revenue was up 25.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.11) EPS. As a group, sell-side analysts expect that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Insider Buying and Selling at C3.ai

In other C3.ai news, CEO Thomas M. Siebel sold 356,418 shares of the business’s stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $20.19, for a total transaction of $7,196,079.42. Following the transaction, the chief executive officer now owns 241,768 shares in the company, valued at approximately $4,881,295.92. The trade was a 59.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Thomas M. Siebel sold 13,567 shares of the business’s stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $19.47, for a total value of $264,149.49. The disclosure for this sale can be found here. Insiders sold a total of 1,641,930 shares of company stock valued at $37,082,957 in the last ninety days. Insiders own 33.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on AI shares. JPMorgan Chase & Co. lowered their price objective on C3.ai from $27.00 to $23.00 and set an “underweight” rating for the company in a research report on Thursday, May 29th. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a report on Thursday, May 29th. DA Davidson reduced their target price on C3.ai from $25.00 to $18.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Oppenheimer reduced their target price on C3.ai from $56.00 to $45.00 and set an “outperform” rating for the company in a report on Thursday, May 29th. Finally, Piper Sandler reduced their target price on C3.ai from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Thursday, May 29th. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, C3.ai has a consensus rating of “Hold” and a consensus price target of $29.46.

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.