Meridian Wealth Management LLC Buys Shares of 26,554 C3.ai, Inc. (NYSE:AI)

Meridian Wealth Management LLC bought a new stake in shares of C3.ai, Inc. (NYSE:AI) in the 4th quarter, HoldingsChannel reports. The fund bought 26,554 shares of the company’s stock, valued at approximately $914,000.

Several other institutional investors have also recently added to or reduced their stakes in AI. Brown Lisle Cummings Inc. increased its stake in C3.ai by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock valued at $28,000 after purchasing an additional 400 shares during the last quarter. R Squared Ltd bought a new position in shares of C3.ai during the fourth quarter worth about $29,000. CENTRAL TRUST Co bought a new position in shares of C3.ai during the fourth quarter worth about $34,000. Global Retirement Partners LLC grew its position in shares of C3.ai by 1,004.0% during the fourth quarter. Global Retirement Partners LLC now owns 1,115 shares of the company’s stock worth $38,000 after acquiring an additional 1,014 shares during the last quarter. Finally, Quest Partners LLC grew its position in shares of C3.ai by 9,033.3% during the third quarter. Quest Partners LLC now owns 1,644 shares of the company’s stock worth $40,000 after acquiring an additional 1,626 shares during the last quarter. Institutional investors own 38.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AI. JPMorgan Chase & Co. lowered shares of C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price target for the company. in a research report on Wednesday, December 11th. Canaccord Genuity Group lowered their price target on shares of C3.ai from $40.00 to $30.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. JMP Securities upped their price objective on shares of C3.ai from $40.00 to $55.00 and gave the stock a “market outperform” rating in a report on Tuesday, December 10th. Northland Securities upped their price objective on shares of C3.ai from $35.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Finally, Morgan Stanley reduced their price objective on shares of C3.ai from $32.00 to $30.00 and set an “underweight” rating for the company in a report on Thursday, February 27th. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $31.33.

Insider Buying and Selling at C3.ai

In other C3.ai news, CEO Thomas M. Siebel sold 552,422 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $33.04, for a total transaction of $18,252,022.88. Following the completion of the sale, the chief executive officer now directly owns 1,336,968 shares of the company’s stock, valued at approximately $44,173,422.72. This represents a 29.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jim H. Snabe sold 499,700 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $43.05, for a total transaction of $21,512,085.00. Following the sale, the director now directly owns 10,000 shares of the company’s stock, valued at $430,500. This represents a 98.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,643,311 shares of company stock valued at $59,736,620. 33.54% of the stock is currently owned by corporate insiders.

C3.ai Trading Up 0.5 %

Shares of NYSE AI opened at $22.15 on Wednesday. C3.ai, Inc. has a twelve month low of $18.85 and a twelve month high of $45.08. The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of -10.02 and a beta of 1.98. The firm has a 50-day moving average of $31.85 and a two-hundred day moving average of $29.56.

C3.ai (NYSE:AI) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.37). C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. The business had revenue of $98.78 million during the quarter, compared to analyst estimates of $98.12 million. As a group, research analysts predict that C3.ai, Inc. will post -2.44 earnings per share for the current year.

C3.ai Company Profile

C3.ai, Inc operates as an enterprise artificial intelligence (AI) software company in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company provides C3 AI platform, an application development and runtime environment that enables customers to design, develop, and deploy enterprise AI applications; C3 AI Ex Machina for analysis-ready data; C3 AI CRM, an industry specific customer relationship management solution; and C3 Generative AI Product Suite that enables to locate, retrieve, and present information.