Edgestream Partners L.P. Has $5.54 Million Holdings in C3.ai, Inc. $AI

Edgestream Partners L.P. lifted its holdings in C3.ai, Inc. (NYSE:AI) by 247.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 658,573 shares of the company’s stock after purchasing an additional 469,057 shares during the quarter. Edgestream Partners L.P. owned 0.45% of C3.ai worth $5,545,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in AI. AQR Capital Management LLC grew its position in C3.ai by 267.9% in the first quarter. AQR Capital Management LLC now owns 181,354 shares of the company’s stock valued at $3,788,000 after purchasing an additional 132,056 shares in the last quarter. NewEdge Advisors LLC lifted its position in C3.ai by 48.7% during the 1st quarter. NewEdge Advisors LLC now owns 2,442 shares of the company’s stock worth $51,000 after buying an additional 800 shares in the last quarter. Woodline Partners LP acquired a new position in shares of C3.ai during the 1st quarter worth about $346,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of C3.ai by 4.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 242,784 shares of the company’s stock worth $5,111,000 after buying an additional 10,675 shares during the last quarter. Finally, Focus Partners Wealth grew its holdings in shares of C3.ai by 2.6% in the 1st quarter. Focus Partners Wealth now owns 59,004 shares of the company’s stock valued at $1,242,000 after acquiring an additional 1,503 shares in the last quarter. Institutional investors and hedge funds own 38.96% of the company’s stock.

Insider Buying and Selling at C3.ai

In related news, CEO Thomas M. Siebel sold 472,005 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $11.11, for a total transaction of $5,243,975.55. Following the transaction, the chief executive officer directly owned 722,362 shares of the company’s stock, valued at approximately $8,025,441.82. The trade was a 39.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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, CFO Hitesh Lath sold 48,619 shares of the stock in a transaction 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 sale, the chief financial officer owned 383,106 shares in the company, valued at approximately $3,359,839.62. This trade represents a 11.26% decrease in their position. 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. Insiders have sold 1,155,144 shares of company stock worth $11,420,651 over the last 90 days. Company insiders own 26.50% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on AI. Wedbush reaffirmed an “outperform” rating and issued a $15.00 target price on shares of C3.ai in a research report on Thursday, June 4th. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research report on Thursday, June 4th. Morgan Stanley raised their price target on C3.ai from $6.00 to $7.00 and gave the company an “underweight” rating in a research note on Thursday, June 4th. UBS Group boosted their price target on C3.ai from $9.00 to $12.00 and gave the stock a “neutral” rating in a research report on Thursday, June 4th. Finally, Weiss Ratings cut C3.ai from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 16th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat, C3.ai presently has a consensus rating of “Reduce” and an average price target of $10.67.

C3.ai Price Performance

C3.ai stock opened at $9.04 on Friday. The company’s 50-day moving average is $9.60 and its 200-day moving average is $9.78. The firm has a market capitalization of $1.41 billion, a PE ratio of -2.71 and a beta of 2.06. C3.ai, Inc. has a fifty-two week low of $7.68 and a fifty-two week high of $24.67.

C3.ai (NYSE:AI) last issued its earnings results on Wednesday, June 3rd. The company reported ($0.33) earnings per share (EPS) for the quarter, beating 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 business had revenue of $51.60 million during the quarter, compared to the consensus estimate of $51.60 million. During the same period last year, the business posted ($0.16) EPS. C3.ai’s revenue was down 52.5% on a year-over-year basis. As a group, analysts expect that C3.ai, Inc. will post -2.28 EPS for the current year.

C3.ai Company Profile

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.