Neo Ivy Capital Management Takes Position in C3.ai, Inc. $AI

Neo Ivy Capital Management acquired a new position in shares of C3.ai, Inc. (NYSE:AI) in the third quarter, Holdings Channel reports. The institutional investor acquired 115,912 shares of the company’s stock, valued at approximately $2,010,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its position in C3.ai by 77.1% in the third quarter. Dimensional Fund Advisors LP now owns 1,804,188 shares of the company’s stock valued at $31,284,000 after buying an additional 785,508 shares during the last quarter. Cresset Asset Management LLC boosted its stake in C3.ai by 9.5% during the third quarter. Cresset Asset Management LLC now owns 93,232 shares of the company’s stock worth $1,617,000 after buying an additional 8,079 shares during the period. Quantbot Technologies LP increased its position in shares of C3.ai by 2,831.4% during the third quarter. Quantbot Technologies LP now owns 554,472 shares of the company’s stock valued at $9,615,000 after acquiring an additional 535,557 shares during the last quarter. Clare Market Investments LLC acquired a new stake in shares of C3.ai during the third quarter valued at about $2,207,000. Finally, Aster Capital Management DIFC Ltd raised its stake in shares of C3.ai by 1,550.4% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 4,159 shares of the company’s stock valued at $72,000 after acquiring an additional 3,907 shares during the period. 38.96% of the stock is currently owned by hedge funds and other institutional investors.

C3.ai Stock Performance

NYSE AI opened at $9.20 on Friday. The firm has a 50 day simple moving average of $11.73 and a 200-day simple moving average of $14.74. C3.ai, Inc. has a one year low of $7.72 and a one year high of $30.24. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of -2.92 and a beta of 2.05.

C3.ai (NYSE:AI) last announced its earnings results on Wednesday, February 25th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.11). The business had revenue of $53.26 million for the quarter, compared to analysts’ expectations of $75.91 million. C3.ai had a negative return on equity of 53.96% and a negative net margin of 141.35%.C3.ai’s quarterly revenue was down 46.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.12) earnings per share. Equities analysts predict that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other C3.ai news, CFO Hitesh Lath sold 15,042 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $14.38, for a total value of $216,303.96. Following the completion of the transaction, the chief financial officer owned 223,120 shares in the company, valued at $3,208,465.60. The trade was a 6.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Stephen Bradley Ehikian sold 234,918 shares of the company’s stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $13.56, for a total value of $3,185,488.08. Following the sale, the chief executive officer directly owned 924,074 shares in the company, valued at $12,530,443.44. This represents a 20.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,867,304 shares of company stock worth $24,729,104 over the last 90 days. Corporate insiders own 26.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on AI shares. Bank of America set a $10.00 price objective on shares of C3.ai in a report on Friday, January 30th. KeyCorp dropped their target price on shares of C3.ai from $10.00 to $6.00 and set an “underweight” rating for the company in a report on Thursday, February 26th. BMO Capital Markets set a $7.00 target price on C3.ai in a research report on Thursday, February 26th. UBS Group restated a “reduce” rating on shares of C3.ai in a research note on Thursday, February 26th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research note on Thursday, December 4th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, seven have issued a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, C3.ai presently has a consensus rating of “Reduce” and a consensus price target of $15.87.

C3.ai Company Profile

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.