Cwm LLC Purchases 11,918 Shares of C3.ai, Inc. (NYSE:AI)

Key Points

• Cwm LLC increased its holdings in C3.ai, Inc. by 312.9% during the first quarter, acquiring an additional 11,918 shares, bringing its total to 15,727 shares valued at $331,000.
• Insider transactions included Director Richard C. Levin selling 6,000 shares and VP Merel Witteveen selling 5,485 shares, indicating a decrease in ownership for both individuals.
• Analysts have mixed views on C3.ai's stock, with price targets ranging from $23.00 to $50.00, reflecting varying ratings from "underweight" to "strong buy".

Cwm LLC grew its position in shares of C3.ai, Inc. (NYSE:AI - Free Report) by 312.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,727 shares of the company's stock after buying an additional 11,918 shares during the quarter. Cwm LLC's holdings in C3.ai were worth $331,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of C3.ai by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 12,935,969 shares of the company's stock worth $445,385,000 after purchasing an additional 446,529 shares during the last quarter. Geode Capital Management LLC raised its holdings in C3.ai by 14.1% during the 4th quarter. Geode Capital Management LLC now owns 2,529,991 shares of the company's stock valued at $87,128,000 after acquiring an additional 313,066 shares during the period. Two Sigma Investments LP bought a new stake in C3.ai during the 4th quarter valued at $42,306,000. Man Group plc purchased a new position in shares of C3.ai during the 4th quarter valued at $38,455,000. Finally, Northern Trust Corp grew its position in shares of C3.ai by 28.7% during the 4th quarter. Northern Trust Corp now owns 1,055,075 shares of the company's stock valued at $36,326,000 after purchasing an additional 235,364 shares in the last quarter. Institutional investors own 38.96% of the company's stock.

Insider Buying and Selling at C3.ai

In other C3.ai news, Director Richard C. Levin sold 6,000 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $26.31, for a total transaction of $157,860.00. Following the completion of the sale, the director directly owned 161,664 shares in the company, valued at $4,253,379.84. This represents a 3.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Merel Witteveen sold 5,485 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $23.95, for a total value of $131,365.75. Following the completion of the sale, the vice president directly owned 13,740 shares in the company, valued at $329,073. The trade was a 28.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,989,902 shares of company stock valued at $51,379,600. 33.54% of the stock is currently owned by insiders.

C3.ai Stock Performance

Shares of NYSE:AI opened at $26.01 on Friday. C3.ai, Inc. has a 52-week low of $17.03 and a 52-week high of $45.08. The firm has a fifty day moving average of $25.32 and a 200 day moving average of $25.44. The firm has a market capitalization of $3.50 billion, a PE ratio of -11.61 and a beta of 1.99.

C3.ai (NYSE:AI - Get Free Report) last announced its earnings results on Wednesday, May 28th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $108.72 million during the quarter, compared to analyst estimates of $107.85 million. During the same period in the previous year, the business earned ($0.11) earnings per share. The firm's quarterly revenue was up 25.5% compared to the same quarter last year. On average, sell-side analysts forecast that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their price target on shares of C3.ai from $27.00 to $23.00 and set an "underweight" rating for the company in a research report on Thursday, May 29th. JMP Securities restated a "market outperform" rating and set a $50.00 price target on shares of C3.ai in a research report on Friday. Westpark Capital upgraded shares of C3.ai to a "strong-buy" rating and set a $40.00 price target for the company in a research report on Wednesday, July 9th. Piper Sandler reduced their price target on shares of C3.ai from $28.00 to $27.00 and set a "neutral" rating for the company in a research report on Thursday, May 29th. Finally, Oppenheimer reduced their price target on shares of C3.ai from $56.00 to $45.00 and set an "outperform" rating for the company in a research report on Thursday, May 29th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $29.79.

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.

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