C3.ai, Inc. $AI Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC grew its holdings in shares of C3.ai, Inc. (NYSE:AI) by 1,149.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 178,846 shares of the company’s stock after purchasing an additional 164,537 shares during the period. SG Americas Securities LLC’s holdings in C3.ai were worth $3,101,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AI. Silicon Valley Capital Partners purchased a new stake in C3.ai in the second quarter valued at about $25,000. Financial Consulate Inc. purchased a new stake in shares of C3.ai during the third quarter worth about $36,000. NewEdge Advisors LLC increased its holdings in shares of 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 acquiring an additional 800 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of C3.ai by 53.7% during the second quarter. Blue Trust Inc. now owns 2,329 shares of the company’s stock valued at $57,000 after acquiring an additional 814 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its position in shares of C3.ai by 152.1% in the 3rd quarter. Geneos Wealth Management Inc. now owns 3,373 shares of the company’s stock valued at $58,000 after purchasing an additional 2,035 shares during the last quarter. 38.96% of the stock is currently owned by hedge funds and other institutional investors.

C3.ai Price Performance

AI stock opened at $14.12 on Tuesday. The company has a market capitalization of $1.99 billion, a P/E ratio of -4.99 and a beta of 1.97. C3.ai, Inc. has a 12 month low of $12.59 and a 12 month high of $35.98. The firm’s fifty day simple moving average is $14.42 and its 200-day simple moving average is $18.22.

C3.ai (NYSE:AI) last issued its earnings results on Wednesday, December 3rd. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.08. C3.ai had a negative net margin of 108.06% and a negative return on equity of 46.51%. The firm had revenue of $75.15 million during the quarter, compared to analysts’ expectations of $74.86 million. During the same quarter last year, the company posted ($0.06) earnings per share. The firm’s revenue was down 20.3% compared to the same quarter last year. As a group, sell-side analysts forecast that C3.ai, Inc. will post -2.44 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on AI. Weiss Ratings reissued a “sell (d-)” rating on shares of C3.ai in a research report on Wednesday, October 8th. DA Davidson reiterated an “underperform” rating and set a $13.00 price objective on shares of C3.ai in a research note on Thursday, December 4th. Canaccord Genuity Group reissued a “hold” rating and set a $16.00 price objective on shares of C3.ai in a report on Thursday, December 4th. Wedbush reissued an “outperform” rating and issued a $20.00 target price on shares of C3.ai in a research report on Thursday, December 4th. Finally, Needham & Company LLC restated 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, two have issued a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $21.92.

Insider Buying and Selling at C3.ai

In other news, CFO Hitesh Lath sold 15,042 shares of the business’s stock in a transaction dated 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Thomas M. Siebel sold 543,706 shares of the company’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $15.24, for a total value of $8,286,079.44. Following the completion of the sale, the chairman owned 1,437,174 shares in the company, valued at $21,902,531.76. The trade was a 27.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 1,394,043 shares of company stock worth $20,408,271. 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.