Jupiter Wealth Management LLC Acquires Shares of 11,250 C3.ai, Inc. (NYSE:AI)

Jupiter Wealth Management LLC acquired a new stake in shares of C3.ai, Inc. (NYSE:AI) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 11,250 shares of the company’s stock, valued at approximately $387,000.

A number of other hedge funds also recently made changes to their positions in the company. Janney Montgomery Scott LLC increased its position in shares of C3.ai by 70.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 55,339 shares of the company’s stock worth $1,905,000 after acquiring an additional 22,949 shares during the last quarter. McGuire Investment Group LLC acquired a new stake in C3.ai during the 4th quarter valued at approximately $316,000. Geneos Wealth Management Inc. increased its holdings in C3.ai by 72.4% during the 4th quarter. Geneos Wealth Management Inc. now owns 1,322 shares of the company’s stock worth $46,000 after purchasing an additional 555 shares during the last quarter. PFG Investments LLC raised its position in shares of C3.ai by 4.6% in the 4th quarter. PFG Investments LLC now owns 23,290 shares of the company’s stock valued at $802,000 after purchasing an additional 1,017 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC purchased a new position in shares of C3.ai during the 4th quarter valued at approximately $633,000. Hedge funds and other institutional investors own 38.96% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Piper Sandler dropped their price target on shares of C3.ai from $42.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Canaccord Genuity Group decreased their price objective on shares of C3.ai from $40.00 to $30.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a research note on Thursday, February 27th. DA Davidson decreased their price target on C3.ai from $25.00 to $18.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Finally, Morgan Stanley lowered their price objective on C3.ai from $30.00 to $20.00 and set an “underweight” rating for the company in a report on Wednesday, April 16th. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, C3.ai currently has a consensus rating of “Hold” and a consensus price target of $29.58.

C3.ai Trading Up 0.0%

NYSE:AI opened at $22.74 on Friday. The stock has a 50 day moving average of $21.68 and a 200-day moving average of $28.39. The firm has a market capitalization of $3.02 billion, a PE ratio of -10.29 and a beta of 1.99. C3.ai, Inc. has a 52 week low of $17.03 and a 52 week high of $45.08.

C3.ai (NYSE:AI) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.62) earnings per share (EPS) 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 company had revenue of $98.78 million for the quarter, compared to analyst estimates of $98.12 million. As a group, analysts predict that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Insider Buying and Selling at C3.ai

In other news, VP Merel Witteveen sold 5,719 shares of the firm’s stock in a transaction on Monday, May 19th. The stock was sold at an average price of $23.32, for a total transaction of $133,367.08. Following the transaction, the vice president now directly owns 12,066 shares of the company’s stock, valued at approximately $281,379.12. This trade represents a 32.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas M. Siebel sold 341,698 shares of the company’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $24.00, for a total transaction of $8,200,752.00. Following the completion of the sale, the chief executive officer now directly owns 4,674,643 shares of the company’s stock, valued at $112,191,432. The trade was a 6.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,529,051 shares of company stock valued at $34,028,030 in the last ninety days. Company insiders own 33.54% of the company’s stock.

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.