EWG Elevate Inc. Purchases 919 Shares of C3.ai, Inc. (NYSE:AI)

EWG Elevate Inc. boosted its position in C3.ai, Inc. (NYSE:AI) by 14.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,384 shares of the company’s stock after acquiring an additional 919 shares during the period. EWG Elevate Inc.’s holdings in C3.ai were worth $269,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new stake in shares of C3.ai in the 1st quarter worth about $25,000. Parkside Financial Bank & Trust purchased a new stake in shares of C3.ai in the first quarter worth approximately $27,000. Tucker Asset Management LLC bought a new position in shares of C3.ai in the first quarter valued at approximately $27,000. Atlantic Private Wealth LLC purchased a new position in shares of C3.ai during the first quarter valued at approximately $30,000. Finally, Gables Capital Management Inc. bought a new stake in C3.ai during the first quarter worth $34,000. Institutional investors and hedge funds own 38.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on AI shares. Northland Securities assumed coverage on shares of C3.ai in a report on Tuesday, July 25th. They set a “market perform” rating and a $40.00 price objective on the stock. Bank of America upped their price objective on shares of C3.ai from $16.00 to $18.00 in a research report on Thursday, June 1st. DA Davidson cut shares of C3.ai from a “buy” rating to a “neutral” rating and set a $30.00 target price on the stock. in a research report on Thursday, June 1st. Wedbush reduced their target price on C3.ai from $50.00 to $42.00 and set an “outperform” rating for the company in a report on Thursday, September 7th. Finally, Piper Sandler decreased their price target on C3.ai from $29.00 to $28.00 and set a “neutral” rating for the company in a research report on Friday, September 8th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $26.36.

C3.ai Stock Performance

Shares of AI opened at $26.89 on Tuesday. C3.ai, Inc. has a 1 year low of $10.16 and a 1 year high of $48.87. The stock’s fifty day moving average price is $34.21 and its two-hundred day moving average price is $30.31.

C3.ai (NYSE:AI) last released its quarterly earnings data on Wednesday, September 6th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.08. The business had revenue of $72.36 million for the quarter, compared to the consensus estimate of $71.56 million. C3.ai had a negative net margin of 99.42% and a negative return on equity of 27.78%. The company’s revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.67) earnings per share. As a group, analysts forecast that C3.ai, Inc. will post -2.21 EPS for the current year.

Insider Buying and Selling

In other C3.ai news, Director Richard C. Levin sold 12,000 shares of the stock in a transaction on Friday, July 7th. The stock was sold at an average price of $42.02, for a total transaction of $504,240.00. Following the sale, the director now owns 173,664 shares in the company, valued at $7,297,361.28. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CTO Edward Y. Abbo sold 457,585 shares of the business’s stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $32.96, for a total transaction of $15,082,001.60. Following the completion of the transaction, the chief technology officer now directly owns 650,777 shares in the company, valued at approximately $21,449,609.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard C. Levin sold 12,000 shares of the stock in a transaction on Friday, July 7th. The stock was sold at an average price of $42.02, for a total value of $504,240.00. Following the completion of the sale, the director now owns 173,664 shares in the company, valued at approximately $7,297,361.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 485,805 shares of company stock valued at $16,242,668. Company insiders own 34.00% 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.