61,176 Shares in C3.ai, Inc. $AI Bought by Inspire Investing LLC

Inspire Investing LLC purchased a new stake in C3.ai, Inc. (NYSE:AI) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 61,176 shares of the company’s stock, valued at approximately $515,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Larson Financial Group LLC lifted its stake in shares of C3.ai by 683.6% in the third quarter. Larson Financial Group LLC now owns 1,481 shares of the company’s stock valued at $26,000 after buying an additional 1,292 shares in the last quarter. Parallel Advisors LLC increased its position 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 worth $32,000 after acquiring an additional 801 shares in the last quarter. Farther Finance Advisors LLC increased its position 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 worth $29,000 after acquiring an additional 852 shares in the last quarter. Comerica Bank raised its holdings in shares of C3.ai by 839.1% in the 4th quarter. Comerica Bank now owns 2,423 shares of the company’s stock worth $33,000 after acquiring an additional 2,165 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of C3.ai by 48.7% in the 1st quarter. NewEdge Advisors LLC now owns 2,442 shares of the company’s stock worth $51,000 after acquiring an additional 800 shares during the last quarter. Institutional investors own 38.96% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on AI. KeyCorp reaffirmed an “underweight” rating on shares of C3.ai in a research report on Thursday, June 4th. Citizens Jmp reissued a “market perform” rating on shares of C3.ai in a research note on Thursday, June 4th. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a report on Thursday, June 4th. Wedbush reaffirmed an “outperform” rating and set a $15.00 target price on shares of C3.ai in a research report on Thursday, June 4th. Finally, Canaccord Genuity Group upped their price target on C3.ai from $8.00 to $10.00 and gave the stock a “hold” rating in a report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, six have assigned a Hold rating and six have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $12.92.

C3.ai Stock Up 0.1%

NYSE AI opened at $9.07 on Friday. The company has a market cap of $1.41 billion, a PE ratio of -2.71 and a beta of 2.06. C3.ai, Inc. has a 52 week low of $7.68 and a 52 week high of $30.11. The firm’s 50-day simple moving average is $9.68 and its two-hundred day simple moving average is $10.50.

C3.ai (NYSE:AI) last posted its earnings results on Wednesday, June 3rd. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.38) by $0.05. C3.ai had a negative net margin of 187.95% and a negative return on equity of 62.44%. The firm had revenue of $51.60 million during the quarter, compared to the consensus estimate of $51.60 million. During the same quarter last year, the company earned ($0.16) earnings per share. The company’s revenue was down 52.5% on a year-over-year basis. As a group, equities research analysts anticipate that C3.ai, Inc. will post -2.28 EPS for the current year.

Insider Buying and Selling

In related news, CFO Hitesh Lath sold 48,619 shares of C3.ai stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $8.77, for a total value of $426,388.63. Following the completion of the transaction, the chief financial officer directly owned 383,106 shares in the company, valued at approximately $3,359,839.62. The trade was a 11.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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, CEO Thomas M. Siebel sold 472,005 shares of C3.ai 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 transaction, the chief executive officer owned 722,362 shares of the company’s stock, valued at $8,025,441.82. This represents a 39.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. In the last ninety days, insiders sold 1,646,611 shares of company stock valued at $15,534,492. Company insiders own 26.50% of the company’s stock.

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.