318,950 Shares in C3.ai, Inc. $AI Purchased by Zweig DiMenna Associates LLC

Zweig DiMenna Associates LLC acquired a new position in C3.ai, Inc. (NYSE:AI) during the first quarter, HoldingsChannel reports. The institutional investor acquired 318,950 shares of the company’s stock, valued at approximately $2,686,000.

A number of other institutional investors and hedge funds have also made changes to their positions in AI. Larson Financial Group LLC boosted its position in shares of C3.ai by 683.6% in the 3rd quarter. Larson Financial Group LLC now owns 1,481 shares of the company’s stock worth $26,000 after purchasing an additional 1,292 shares in the last quarter. Farther Finance Advisors LLC raised its stake in C3.ai by 66.1% during the fourth quarter. Farther Finance Advisors LLC now owns 2,141 shares of the company’s stock valued at $29,000 after buying an additional 852 shares during the last quarter. Parallel Advisors LLC raised its stake in C3.ai by 76.4% during the third quarter. Parallel Advisors LLC now owns 1,849 shares of the company’s stock valued at $32,000 after buying an additional 801 shares during the last quarter. Comerica Bank boosted its holdings in C3.ai by 839.1% in the fourth quarter. Comerica Bank now owns 2,423 shares of the company’s stock worth $33,000 after acquiring an additional 2,165 shares in the last quarter. Finally, Olistico Wealth LLC bought a new stake in C3.ai in the fourth quarter worth $34,000. Institutional investors own 38.96% of the company’s stock.

Insider Buying and Selling

In other C3.ai news, CEO Stephen Bradley Ehikian sold 50,542 shares of C3.ai stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $9.45, for a total value of $477,621.90. Following the completion of the sale, the chief executive officer owned 651,130 shares of the company’s stock, valued at approximately $6,153,178.50. The trade was a 7.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 business’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $8.77, for a total transaction of $426,388.63. Following the sale, the chief financial officer owned 383,106 shares of the company’s stock, valued at approximately $3,359,839.62. This represents a 11.26% decrease in their ownership of the stock. 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. Over the last quarter, insiders have sold 1,155,144 shares of company stock worth $11,420,651. 26.50% of the stock is owned by insiders.

C3.ai Trading Down 0.3%

C3.ai stock opened at $9.13 on Wednesday. C3.ai, Inc. has a 12 month low of $7.68 and a 12 month high of $30.11. The stock has a fifty day simple moving average of $9.71 and a two-hundred day simple moving average of $10.21. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of -2.73 and a beta of 2.06.

C3.ai (NYSE:AI) last issued its earnings results on Wednesday, June 3rd. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.05. The business had revenue of $51.60 million during the quarter, compared to analyst estimates of $51.60 million. C3.ai had a negative return on equity of 62.44% and a negative net margin of 187.95%.C3.ai’s revenue was down 52.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.16) EPS. On average, equities research analysts forecast that C3.ai, Inc. will post -2.28 EPS for the current fiscal year.

Analyst Ratings Changes

AI has been the subject of several recent analyst reports. Citizens Jmp reaffirmed a “market perform” rating 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 objective on shares of C3.ai from $6.00 to $7.00 and gave the company an “underweight” rating in a research note on Thursday, June 4th. Canaccord Genuity Group lifted their target price on shares of C3.ai from $8.00 to $10.00 and gave the stock a “hold” rating in a report on Thursday, June 4th. Finally, UBS Group upped their target price on shares of C3.ai from $9.00 to $12.00 and gave the stock a “neutral” rating in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $10.67.

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.