GAMMA Investing LLC Buys 11,777 Shares of C3.ai, Inc. (NYSE:AI)

GAMMA Investing LLC increased its stake in shares of C3.ai, Inc. (NYSE:AI - Free Report) by 4,846.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 12,020 shares of the company's stock after purchasing an additional 11,777 shares during the quarter. GAMMA Investing LLC's holdings in C3.ai were worth $253,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Russell Investments Group Ltd. grew its position in C3.ai by 100.7% in the 4th 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. Legal & General Group Plc grew its position in C3.ai by 0.4% in the 4th quarter. Legal & General Group Plc now owns 119,144 shares of the company's stock valued at $4,102,000 after acquiring an additional 517 shares during the last quarter. Corient Private Wealth LLC lifted its holdings in shares of C3.ai by 2.4% in the 4th quarter. Corient Private Wealth LLC now owns 23,371 shares of the company's stock worth $805,000 after buying an additional 555 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in shares of C3.ai by 35.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,128 shares of the company's stock worth $71,000 after buying an additional 560 shares during the period. Finally, Beacon Pointe Advisors LLC lifted its holdings in shares of C3.ai by 3.2% in the 4th quarter. Beacon Pointe Advisors LLC now owns 24,960 shares of the company's stock worth $859,000 after buying an additional 781 shares during the period. Institutional investors own 38.96% of the company's stock.

C3.ai Price Performance

Shares of NYSE:AI opened at $23.63 on Friday. The business's 50-day moving average is $23.13 and its 200 day moving average is $27.34. C3.ai, Inc. has a 1 year low of $17.03 and a 1 year high of $45.08. The firm has a market capitalization of $3.14 billion, a P/E ratio of -10.55 and a beta of 2.04.

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, beating the consensus estimate of ($0.20) by $0.04. C3.ai had a negative return on equity of 33.25% and a negative net margin of 74.21%. The company had revenue of $108.72 million for the quarter, compared to analyst estimates of $107.85 million. During the same period in the prior year, the company posted ($0.11) EPS. The firm's quarterly revenue was up 25.5% compared to the same quarter last year. On average, analysts expect that C3.ai, Inc. will post -2.44 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on AI shares. Oppenheimer lowered their target price on C3.ai from $56.00 to $45.00 and set an "outperform" rating for the company in a report on Thursday, May 29th. DA Davidson lowered their target price on C3.ai from $25.00 to $18.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Morgan Stanley upped their target price on C3.ai from $20.00 to $22.00 and gave the stock an "underweight" rating in a report on Thursday, May 29th. KeyCorp reiterated a "mixed" rating on shares of C3.ai in a report on Thursday, May 29th. Finally, Canaccord Genuity Group lowered their target price on C3.ai from $30.00 to $28.00 and set a "hold" rating for the company in a report on Thursday, May 29th. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $29.46.

Insider Activity

In other news, CEO Thomas M. Siebel sold 13,567 shares of the stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $19.47, for a total transaction of $264,149.49. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Thomas M. Siebel sold 601,498 shares of C3.ai stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $25.02, for a total value of $15,049,479.96. Following the transaction, the chief executive officer now owns 3,816,802 shares in the company, valued at approximately $95,496,386.04. The trade was a 13.61% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,752,730 shares of company stock valued at $41,551,316. Company insiders own 33.54% of the company's stock.

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.

Want to see what other hedge funds are holding AI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for C3.ai, Inc. (NYSE:AI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.