C3.ai, Inc. (NYSE:AI) Shares Purchased by McGuire Investment Group LLC

McGuire Investment Group LLC grew its stake in shares of C3.ai, Inc. (NYSE:AI - Free Report) by 782.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 80,893 shares of the company's stock after buying an additional 71,727 shares during the period. McGuire Investment Group LLC owned 0.06% of C3.ai worth $1,703,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in AI. Russell Investments Group Ltd. boosted its stake in shares of C3.ai by 100.7% during the fourth quarter. Russell Investments Group Ltd. now owns 909 shares of the company's stock valued at $31,000 after acquiring an additional 456 shares during the last quarter. WealthTrak Capital Management LLC purchased a new position in C3.ai in the 4th quarter valued at about $33,000. Orion Capital Management LLC acquired a new stake in shares of C3.ai during the 4th quarter worth about $34,000. Raiffeisen Bank International AG purchased a new stake in shares of C3.ai during the fourth quarter worth about $36,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of C3.ai during the fourth quarter worth about $36,000. 38.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP Merel Witteveen sold 5,719 shares of C3.ai stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $23.32, for a total transaction of $133,367.08. Following the sale, the vice president now owns 12,066 shares in the company, valued at $281,379.12. This trade represents a 32.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Hitesh Lath sold 4,368 shares of the company's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $29.45, for a total transaction of $128,637.60. Following the completion of the transaction, the chief financial officer now owns 250 shares of the company's stock, valued at $7,362.50. This trade represents a 94.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,752,730 shares of company stock valued at $41,551,316. Company insiders own 33.54% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on AI. UBS Group decreased their target price on shares of C3.ai from $28.00 to $27.00 and set a "neutral" rating on the stock in a research report on Thursday. Morgan Stanley increased their price target on C3.ai from $20.00 to $22.00 and gave the stock an "underweight" rating in a research note on Thursday, May 29th. DA Davidson lowered their price objective on C3.ai from $25.00 to $18.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Wall Street Zen lowered C3.ai from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. Finally, Canaccord Genuity Group decreased their price target on C3.ai from $30.00 to $28.00 and set a "hold" rating on the stock in a research note on Thursday, May 29th. Five analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $29.38.

C3.ai Stock Performance

Shares of NYSE:AI opened at $24.29 on Friday. The stock has a 50-day simple moving average of $23.57 and a 200-day simple moving average of $26.78. The stock has a market capitalization of $3.26 billion, a P/E ratio of -10.85 and a beta of 2.04. C3.ai, Inc. has a 1 year low of $17.03 and a 1 year high of $45.08.

C3.ai (NYSE:AI - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The company reported ($0.16) earnings per share for the quarter, beating analysts' consensus estimates of ($0.20) by $0.04. C3.ai had a negative net margin of 74.21% and a negative return on equity of 33.51%. The firm had revenue of $108.72 million for the quarter, compared to analysts' expectations of $107.85 million. During the same period in the previous year, the company posted ($0.11) earnings per share. C3.ai's revenue was up 25.5% compared to the same quarter last year. Analysts predict that C3.ai, Inc. will post -2.44 earnings per share for the current year.

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.

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