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

Neo Ivy Capital Management purchased a new position in C3.ai, Inc. (NYSE:AI) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 115,912 shares of the company’s stock, valued at approximately $2,010,000. Neo Ivy Capital Management owned about 0.08% of C3.ai at the end of the most recent reporting period.

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

Insider Activity

In related news, Chairman Thomas M. Siebel sold 511,732 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $11.66, for a total value of $5,966,795.12. Following the transaction, the chairman directly owned 722,362 shares in the company, valued at approximately $8,422,740.92. This represents a 41.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Hitesh Lath sold 15,042 shares of the stock in a transaction that occurred on Tuesday, December 16th. The stock was 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 of the company’s stock, valued at $3,208,465.60. The trade was a 6.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,867,304 shares of company stock valued at $24,729,104 in the last 90 days. Company insiders own 26.50% of the company’s stock.

C3.ai Stock Down 2.0%

NYSE AI opened at $9.20 on Friday. The business’s fifty day simple moving average is $11.73 and its 200-day simple moving average is $14.74. The firm has a market cap of $1.29 billion, a PE ratio of -2.92 and a beta of 2.05. C3.ai, Inc. has a 52 week low of $7.72 and a 52 week high of $30.24.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Bank of America set a $10.00 price target on shares of C3.ai in a research note on Friday, January 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of C3.ai in a research note on Wednesday, January 21st. DA Davidson cut their price objective on shares of C3.ai from $13.00 to $7.00 and set an “underperform” rating for the company in a report on Thursday, February 26th. JPMorgan Chase & Co. decreased their target price on shares of C3.ai from $10.00 to $7.00 and set an “underweight” rating on the stock in a research note on Thursday, February 26th. Finally, UBS Group restated a “reduce” rating on shares of C3.ai in a report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, seven have given a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average 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.