Naviter Wealth LLC Purchases New Shares in C3.ai, Inc. $AI

Naviter Wealth LLC purchased a new stake in shares of C3.ai, Inc. (NYSE:AI) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 74,599 shares of the company’s stock, valued at approximately $1,006,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AI. AQR Capital Management LLC grew its position in C3.ai by 267.9% during the first quarter. AQR Capital Management LLC now owns 181,354 shares of the company’s stock valued at $3,788,000 after buying an additional 132,056 shares during the period. NewEdge Advisors LLC lifted its holdings in C3.ai by 48.7% during the first quarter. NewEdge Advisors LLC now owns 2,442 shares of the company’s stock valued at $51,000 after purchasing an additional 800 shares in the last quarter. Woodline Partners LP purchased a new position in C3.ai during the first quarter valued at $346,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in C3.ai by 4.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 242,784 shares of the company’s stock valued at $5,111,000 after purchasing an additional 10,675 shares in the last quarter. Finally, Focus Partners Wealth lifted its holdings in C3.ai by 2.6% during the first quarter. Focus Partners Wealth now owns 59,004 shares of the company’s stock valued at $1,242,000 after purchasing an additional 1,503 shares in the last quarter. Institutional investors and hedge funds own 38.96% of the company’s stock.

C3.ai Trading Up 0.7%

NYSE:AI opened at $8.80 on Thursday. The company’s 50-day moving average price is $9.53 and its 200-day moving average price is $13.40. The company has a market cap of $1.28 billion, a P/E ratio of -2.79 and a beta of 2.08. C3.ai, Inc. has a twelve month low of $7.68 and a twelve month high of $30.24.

C3.ai (NYSE:AI) last posted its quarterly 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 during the quarter, compared to analysts’ expectations of $75.91 million. C3.ai had a negative return on equity of 55.40% and a negative net margin of 141.35%.The business’s quarterly revenue was down 46.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.12) earnings per share. On average, analysts expect that C3.ai, Inc. will post -2.44 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on AI shares. Wolfe Research reaffirmed an “underperform” rating and set a $6.00 price objective on shares of C3.ai in a report on Thursday, February 26th. UBS Group reaffirmed a “reduce” rating on shares of C3.ai in a report on Thursday, February 26th. KeyCorp decreased their price objective on shares of C3.ai from $10.00 to $6.00 and set an “underweight” rating on the stock in a report on Thursday, February 26th. Citizens Jmp downgraded shares of C3.ai from an “outperform” rating to a “market perform” rating in a report on Thursday, February 26th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of C3.ai in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, seven have issued a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $15.87.

Insider Buying and Selling at C3.ai

In other news, CEO Stephen Bradley Ehikian sold 52,194 shares of the firm’s stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $8.22, for a total value of $429,034.68. Following the transaction, the chief executive officer directly owned 721,485 shares of the company’s stock, valued at approximately $5,930,606.70. This trade represents a 6.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Jim H. Snabe purchased 25,000 shares of the firm’s stock in a transaction dated Monday, March 9th. The stock was acquired at an average cost of $9.00 per share, for a total transaction of $225,000.00. Following the completion of the purchase, the director owned 395,000 shares of the company’s stock, valued at approximately $3,555,000. This represents a 6.76% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders sold 1,653,886 shares of company stock valued at $18,506,063. Corporate insiders own 26.50% of the company’s stock.

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.