Aspect Partners LLC Raises Position in C3.ai, Inc. (NYSE:AI)

Aspect Partners LLC increased its holdings in C3.ai, Inc. (NYSE:AI) by 14.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,504 shares of the company’s stock after purchasing an additional 941 shares during the quarter. Aspect Partners LLC’s holdings in C3.ai were worth $158,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in shares of C3.ai by 10.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 933,139 shares of the company’s stock valued at $32,128,000 after acquiring an additional 88,750 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of C3.ai in the fourth quarter valued at about $3,996,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of C3.ai in the fourth quarter valued at about $3,159,000. Vanguard Group Inc. increased its position in shares of C3.ai by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 12,935,969 shares of the company’s stock valued at $445,385,000 after buying an additional 446,529 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of C3.ai by 4,846.5% during the first quarter. GAMMA Investing LLC now owns 12,020 shares of the company’s stock valued at $253,000 after buying an additional 11,777 shares during the period. Hedge funds and other institutional investors own 38.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AI. Piper Sandler reduced their price target on shares of C3.ai from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, May 29th. Wall Street Zen cut shares of C3.ai from a “hold” rating to a “sell” rating in a research report on Friday, June 6th. DA Davidson cut their price objective on shares of C3.ai from $25.00 to $18.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Oppenheimer cut their price objective on shares of C3.ai from $56.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday, May 29th. Finally, Canaccord Genuity Group cut their price objective on shares of C3.ai from $30.00 to $28.00 and set a “hold” rating on the stock in a report on Thursday, May 29th. Five investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, C3.ai presently has an average rating of “Hold” and an average target price of $29.38.

Insider Transactions at C3.ai

In related news, CEO Thomas M. Siebel sold 13,567 shares of the stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $19.47, for a total transaction of $264,149.49. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Hitesh Lath sold 4,368 shares of the stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $29.45, for a total transaction of $128,637.60. Following the transaction, the chief financial officer now owns 250 shares in the company, valued at approximately $7,362.50. This trade represents a 94.59% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,752,730 shares of company stock worth $41,551,316. Corporate insiders own 33.54% of the company’s stock.

C3.ai Stock Performance

Shares of NYSE AI opened at $24.76 on Friday. The firm’s 50 day moving average price is $23.47 and its 200-day moving average price is $26.98. The company has a market cap of $3.29 billion, a PE ratio of -11.05 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 issued its earnings results on Wednesday, May 28th. The company reported ($0.16) earnings per share (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 revenue was up 25.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.11) earnings per share. On average, analysts forecast that C3.ai, Inc. will post -2.44 earnings per share for the current fiscal year.

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.