Bosun Asset Management LLC Invests $619,000 in C3.ai, Inc. (NYSE:AI)

Bosun Asset Management LLC purchased a new position in C3.ai, Inc. (NYSE:AI) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 17,992 shares of the company’s stock, valued at approximately $619,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AI. Bridgefront Capital LLC purchased a new position in shares of C3.ai during the fourth quarter worth approximately $392,000. Bayesian Capital Management LP purchased a new position in C3.ai during the 4th quarter worth $930,000. BNP Paribas bought a new stake in C3.ai during the 4th quarter valued at $106,000. Ameriprise Financial Inc. raised its position in C3.ai by 26.5% during the 4th quarter. Ameriprise Financial Inc. now owns 59,645 shares of the company’s stock valued at $2,054,000 after purchasing an additional 12,504 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV bought a new position in shares of C3.ai during the 4th quarter worth $587,000. Institutional investors own 38.96% of the company’s stock.

C3.ai Price Performance

NYSE:AI opened at $22.00 on Tuesday. The company’s fifty day moving average price is $21.37 and its 200-day moving average price is $28.66. C3.ai, Inc. has a 1-year low of $17.03 and a 1-year high of $45.08. The firm has a market capitalization of $2.92 billion, a P/E ratio of -9.95 and a beta of 1.99.

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

Wall Street Analysts Forecast Growth

AI has been the subject of several recent research reports. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a report on Thursday, February 27th. DA Davidson cut their price objective on shares of C3.ai from $25.00 to $18.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Piper Sandler cut their target price on C3.ai from $42.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Morgan Stanley decreased their price target on shares of C3.ai from $30.00 to $20.00 and set an “underweight” rating for the company in a research report on Wednesday, April 16th. Finally, KeyCorp cut their price objective on shares of C3.ai from $21.00 to $17.00 and set an “underweight” rating on the stock in a research report on Thursday, April 17th. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $29.58.

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 value of $18,252,022.88. Following the completion of the transaction, the chief executive officer now owns 1,336,968 shares in the company, valued at approximately $44,173,422.72. This represents a 29.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Thomas M. Siebel sold 13,567 shares of the firm’s stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $19.47, for a total value of $264,149.49. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,434,967 shares of company stock valued at $36,817,246. 33.54% of the stock is owned by company insiders.

C3.ai 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.