Insider Buying: C3.ai (NYSE:AI) Director Purchases 25,000 Shares of Stock

C3.ai, Inc. (NYSE:AI) Director Jim Snabe acquired 25,000 shares of the firm’s stock in a transaction on Monday, March 9th. The stock was bought at an average price of $9.00 per share, for a total transaction of $225,000.00. Following the completion of the acquisition, the director owned 395,000 shares of the company’s stock, valued at approximately $3,555,000. The trade was a 6.76% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

C3.ai Stock Performance

Shares of NYSE AI traded down $0.32 during mid-day trading on Tuesday, reaching $8.95. 4,378,627 shares of the company were exchanged, compared to its average volume of 7,700,350. C3.ai, Inc. has a twelve month low of $7.72 and a twelve month high of $30.24. The company’s 50-day simple moving average is $11.54 and its 200-day simple moving average is $14.59.

C3.ai (NYSE:AI) last posted its earnings results on Wednesday, February 25th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.11). The firm had revenue of $53.26 million during the quarter, compared to analyst estimates of $75.91 million. C3.ai had a negative net margin of 141.35% and a negative return on equity of 53.96%. C3.ai’s revenue for the quarter was down 46.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.12) EPS. On average, sell-side analysts anticipate that C3.ai, Inc. will post -2.44 EPS for the current year.

Institutional Investors Weigh In On C3.ai

Several hedge funds have recently modified their holdings of AI. Hsbc Holdings PLC increased its holdings in C3.ai by 200.2% in the 4th quarter. Hsbc Holdings PLC now owns 109,875 shares of the company’s stock worth $1,482,000 after purchasing an additional 73,276 shares in the last quarter. Alpine Global Management LLC acquired a new position in shares of C3.ai during the fourth quarter worth $206,000. Virtu Financial LLC acquired a new stake in C3.ai in the fourth quarter valued at $871,000. Invesco Ltd. increased its holdings in C3.ai by 29.5% in the fourth quarter. Invesco Ltd. now owns 452,653 shares of the company’s stock valued at $6,102,000 after purchasing an additional 103,058 shares during the period. Finally, Axxcess Wealth Management LLC raised its position in C3.ai by 12.5% during the 4th quarter. Axxcess Wealth Management LLC now owns 45,000 shares of the company’s stock worth $607,000 after purchasing an additional 5,000 shares during the last quarter. Institutional investors and hedge funds own 38.96% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on AI shares. Canaccord Genuity Group cut their price target on C3.ai from $16.00 to $7.00 and set a “hold” rating for the company in a research note on Thursday, February 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of C3.ai in a report on Wednesday, January 21st. BMO Capital Markets set a $7.00 price objective on shares of C3.ai in a research note on Thursday, February 26th. Citizens Jmp cut shares of C3.ai from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 26th. Finally, Wolfe Research reiterated an “underperform” rating and issued a $6.00 price target on shares of C3.ai in a research note on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, seven have assigned a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat.com, C3.ai presently has a consensus rating of “Reduce” and an average price target of $15.87.

About C3.ai

C3.ai, Inc is a leading enterprise software provider focused on delivering scalable artificial intelligence (AI) and Internet of Things (IoT) solutions to large organizations. The company’s core offering, the C3 AI Suite, is a comprehensive, model-driven platform that unifies data ingestion, model development, and application deployment. Through its suite of tools, C3.ai enables customers to accelerate digital transformation initiatives by applying advanced machine learning, predictive analytics, and AI-driven insights across a broad range of business functions.

The C3 AI Suite provides a low-code environment for data scientists and application developers to rapidly design, test, and deploy enterprise-scale AI applications.