Allen Operations LLC Sells 32,838 Shares of Tempus AI, Inc. (NASDAQ:TEM)

Key Points

• Allen Operations LLC reduced its stake in Tempus AI, Inc. by 30%, selling 32,838 shares, and now holds 76,621 shares worth approximately $3.7 million.
• Institutional investors like Nikko Asset Management and Sumitomo Mitsui Trust significantly increased their positions in Tempus AI during the first quarter.
• Several analysts have given buy ratings to Tempus AI with a price target ranging from $60.00 to $75.00, indicating positive growth expectations for the company.

Allen Operations LLC cut its stake in shares of Tempus AI, Inc. (NASDAQ:TEM - Free Report) by 30.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 76,621 shares of the company's stock after selling 32,838 shares during the quarter. Tempus AI makes up 0.6% of Allen Operations LLC's portfolio, making the stock its 21st largest holding. Allen Operations LLC's holdings in Tempus AI were worth $3,696,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nikko Asset Management Americas Inc. boosted its holdings in shares of Tempus AI by 31.5% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 4,260,553 shares of the company's stock worth $205,401,000 after acquiring an additional 1,021,460 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Tempus AI by 31.4% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,255,477 shares of the company's stock valued at $205,284,000 after purchasing an additional 1,016,384 shares during the last quarter. Franklin Resources Inc. boosted its stake in Tempus AI by 240.5% in the fourth quarter. Franklin Resources Inc. now owns 2,762,173 shares of the company's stock worth $93,251,000 after purchasing an additional 1,950,862 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Tempus AI by 86,947.2% during the fourth quarter. JPMorgan Chase & Co. now owns 1,653,896 shares of the company's stock worth $55,836,000 after purchasing an additional 1,651,996 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Tempus AI in the fourth quarter valued at $34,681,000. Institutional investors and hedge funds own 24.22% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on TEM shares. BTIG Research initiated coverage on Tempus AI in a report on Monday, April 21st. They issued a "buy" rating and a $60.00 price target for the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $70.00 target price on shares of Tempus AI in a research note on Wednesday, May 7th. Guggenheim increased their price target on shares of Tempus AI from $65.00 to $75.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Bank of America boosted their price objective on shares of Tempus AI from $68.00 to $70.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 25th. Finally, Piper Sandler upped their price objective on Tempus AI from $55.00 to $70.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Tempus AI has an average rating of "Moderate Buy" and an average price target of $65.09.

Insider Activity

In other news, Director Theodore Leonsis sold 205,847 shares of the company's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $67.66, for a total value of $13,927,608.02. Following the completion of the sale, the director directly owned 15,511 shares of the company's stock, valued at $1,049,474.26. This represents a 92.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Ryan Fukushima sold 20,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $52.36, for a total transaction of $1,047,200.00. Following the completion of the sale, the chief operating officer owned 884,460 shares in the company, valued at $46,310,325.60. This represents a 2.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 612,522 shares of company stock valued at $41,600,238. Insiders own 27.60% of the company's stock.

Tempus AI Price Performance

TEM opened at $64.49 on Friday. The company has a fifty day moving average price of $62.80 and a two-hundred day moving average price of $56.51. The firm has a market capitalization of $11.16 billion and a PE ratio of -8.27. Tempus AI, Inc. has a 52 week low of $31.36 and a 52 week high of $91.45. The company has a debt-to-equity ratio of 2.45, a quick ratio of 1.56 and a current ratio of 1.71.

Tempus AI (NASDAQ:TEM - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.03. Tempus AI had a negative return on equity of 533.21% and a negative net margin of 88.27%. The business had revenue of $255.74 million for the quarter, compared to analyst estimates of $248.13 million. Tempus AI's quarterly revenue was up 75.4% compared to the same quarter last year. As a group, analysts anticipate that Tempus AI, Inc. will post -6.15 earnings per share for the current year.

Tempus AI Company Profile

Tempus AI Inc is a technology company advancing precision medicine through the practical application of artificial intelligence principally in healthcare. The company provides AI-enabled precision medicine solutions to physicians to deliver personalized patient care and in parallel facilitates discovery, development and delivery of optimal therapeutics.

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