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

Bosun Asset Management LLC purchased a new position in shares of C3.ai, Inc. (NYSE:AI - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 17,992 shares of the company's stock, valued at approximately $619,000.

Several other institutional investors and hedge funds also recently modified their holdings of AI. Wealth Enhancement Advisory Services LLC increased its stake in shares of C3.ai by 28.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 14,400 shares of the company's stock valued at $496,000 after acquiring an additional 3,161 shares during the period. TT International Asset Management LTD acquired a new position in shares of C3.ai during the 4th quarter valued at $482,000. Friedenthal Financial bought a new stake in shares of C3.ai in the 4th quarter worth $757,000. Janney Montgomery Scott LLC lifted its holdings in shares of C3.ai by 70.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 55,339 shares of the company's stock valued at $1,905,000 after buying an additional 22,949 shares during the period. Finally, McGuire Investment Group LLC bought a new position in C3.ai during the fourth quarter valued at about $316,000. Institutional investors own 38.96% of the company's stock.

Insider Transactions at C3.ai

In other news, CEO Thomas M. Siebel sold 552,422 shares of the business's stock in a transaction on 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 sale, the chief executive officer now directly owns 1,336,968 shares in the company, valued at approximately $44,173,422.72. The trade was a 29.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas M. Siebel sold 13,567 shares of C3.ai stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $19.47, for a total transaction of $264,149.49. The disclosure for this sale can be found here. Insiders sold 1,461,977 shares of company stock valued at $37,418,759 in the last three months. Corporate insiders own 33.54% of the company's stock.

C3.ai Stock Performance

Shares of NYSE AI traded down $0.11 during mid-day trading on Friday, reaching $23.36. The company had a trading volume of 3,060,830 shares, compared to its average volume of 5,142,923. The stock has a fifty day moving average of $21.33 and a two-hundred day moving average of $28.55. C3.ai, Inc. has a 12-month low of $17.03 and a 12-month high of $45.08. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of -10.57 and a beta of 1.99.

C3.ai (NYSE:AI - Get Free Report) last issued its earnings results 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. Sell-side analysts forecast that C3.ai, Inc. will post -2.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Piper Sandler cut their price target on shares of C3.ai from $42.00 to $28.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. KeyCorp reduced their target price on shares of C3.ai from $21.00 to $17.00 and set an "underweight" rating for the company in a report on Thursday, April 17th. Morgan Stanley dropped their price target on C3.ai from $30.00 to $20.00 and set an "underweight" rating on the stock in a report on Wednesday, April 16th. Needham & Company LLC reissued a "hold" rating on shares of C3.ai in a research note on Thursday, February 27th. Finally, DA Davidson cut their target price on C3.ai from $25.00 to $18.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Five analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, C3.ai has an average rating of "Hold" and an average target price of $29.58.

About C3.ai

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.