Virtu Financial LLC Makes New $871,000 Investment in C3.ai, Inc. $AI

Virtu Financial LLC purchased a new stake in shares of C3.ai, Inc. (NYSE:AI) in the 4th quarter, HoldingsChannel reports. The firm purchased 64,586 shares of the company’s stock, valued at approximately $871,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC grew its holdings in C3.ai by 683.6% in the 3rd quarter. Larson Financial Group LLC now owns 1,481 shares of the company’s stock worth $26,000 after acquiring an additional 1,292 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of C3.ai by 66.1% during the fourth quarter. Farther Finance Advisors LLC now owns 2,141 shares of the company’s stock valued at $29,000 after acquiring an additional 852 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of C3.ai by 76.4% during the third quarter. Parallel Advisors LLC now owns 1,849 shares of the company’s stock valued at $32,000 after acquiring an additional 801 shares during the last quarter. Comerica Bank boosted its holdings in shares of C3.ai by 839.1% during the fourth quarter. Comerica Bank now owns 2,423 shares of the company’s stock worth $33,000 after purchasing an additional 2,165 shares during the period. Finally, Olistico Wealth LLC purchased a new stake in shares of C3.ai during the fourth quarter worth about $34,000. 38.96% of the stock is owned by institutional investors.

C3.ai Stock Up 0.0%

C3.ai stock opened at $10.30 on Monday. C3.ai, Inc. has a twelve month low of $7.68 and a twelve month high of $30.11. The company has a market capitalization of $1.50 billion, a P/E ratio of -3.09 and a beta of 2.04. The stock’s 50 day moving average is $9.65 and its 200 day moving average is $10.90.

C3.ai (NYSE:AI) last released its quarterly earnings data on Wednesday, June 3rd. The company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.05. C3.ai had a negative net margin of 187.95% and a negative return on equity of 60.20%. The business had revenue of $51.60 million during the quarter, compared to analyst estimates of $51.60 million. During the same period last year, the business earned ($0.16) EPS. C3.ai’s revenue was down 52.5% compared to the same quarter last year. As a group, equities analysts expect that C3.ai, Inc. will post -2.26 EPS for the current year.

Insider Buying and Selling

In related news, CEO Thomas M. Siebel sold 472,005 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $11.11, for a total transaction of $5,243,975.55. Following the completion of the sale, the chief executive officer directly owned 722,362 shares in the company, valued at approximately $8,025,441.82. The trade was a 39.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Hitesh Lath sold 34,210 shares of C3.ai stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $10.95, for a total transaction of $374,599.50. Following the transaction, the chief financial officer owned 233,106 shares in the company, valued at $2,552,510.70. This represents a 12.80% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 1,599,644 shares of company stock worth $15,059,516. 26.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AI. Morgan Stanley lifted their price objective on C3.ai from $6.00 to $7.00 and gave the stock an “underweight” rating in a research report on Thursday, June 4th. KeyCorp restated an “underweight” rating on shares of C3.ai in a report on Thursday, June 4th. Citizens Jmp reaffirmed a “market perform” rating on shares of C3.ai in a research note on Thursday, June 4th. Canaccord Genuity Group lifted their price target on shares of C3.ai from $8.00 to $10.00 and gave the company a “hold” rating in a report on Thursday, June 4th. Finally, BMO Capital Markets set a $7.00 price objective on shares of C3.ai in a research report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, six have issued a Hold rating and six have issued a Sell rating to the company’s stock. Based on data from MarketBeat, C3.ai currently has an average rating of “Reduce” and a consensus target price of $12.92.

C3.ai 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.