Global Assets Advisory LLC Has $1.84 Million Stock Holdings in C3.ai, Inc. (NYSE:AI)

Global Assets Advisory LLC grew its stake in shares of C3.ai, Inc. (NYSE:AI - Free Report) by 190.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 90,873 shares of the company's stock after purchasing an additional 59,601 shares during the quarter. Global Assets Advisory LLC owned approximately 0.07% of C3.ai worth $1,843,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in AI. Garde Capital Inc. bought a new position in shares of C3.ai during the first quarter valued at approximately $29,000. Russell Investments Group Ltd. grew its holdings in C3.ai by 100.7% in the 4th quarter. Russell Investments Group Ltd. now owns 909 shares of the company's stock worth $31,000 after buying an additional 456 shares in the last quarter. WealthTrak Capital Management LLC bought a new position in C3.ai in the 4th quarter worth approximately $33,000. Orion Capital Management LLC bought a new position in C3.ai in the 4th quarter worth approximately $34,000. Finally, CX Institutional bought a new position in C3.ai in the 1st quarter worth approximately $34,000. 38.96% of the stock is owned by institutional investors.

Insider Activity

In other C3.ai news, VP Merel Witteveen sold 1,710 shares of the business's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $26.23, for a total transaction of $44,853.30. Following the sale, the vice president now directly owns 9,225 shares of the company's stock, valued at $241,971.75. The trade was a 15.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Hitesh Lath sold 6,040 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $24.19, for a total transaction of $146,107.60. Following the sale, the chief financial officer now directly owns 6,218 shares in the company, valued at approximately $150,413.42. This trade represents a 49.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,752,730 shares of company stock worth $41,551,316. Insiders own 33.54% of the company's stock.

C3.ai Price Performance

Shares of NYSE:AI traded down $0.43 on Friday, reaching $24.29. 6,926,295 shares of the company traded hands, compared to its average volume of 5,236,251. C3.ai, Inc. has a fifty-two week low of $17.03 and a fifty-two week high of $45.08. The company's 50 day moving average is $23.57 and its 200-day moving average is $26.86. The stock has a market capitalization of $3.26 billion, a PE ratio of -10.85 and a beta of 2.04.

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Morgan Stanley increased their price objective on C3.ai from $20.00 to $22.00 and gave the stock an "underweight" rating in a report on Thursday, May 29th. KeyCorp reissued a "mixed" rating on shares of C3.ai in a report on Thursday, May 29th. Piper Sandler decreased their price objective on C3.ai from $28.00 to $27.00 and set a "neutral" rating for the company in a report on Thursday, May 29th. JPMorgan Chase & Co. decreased their price objective on C3.ai from $27.00 to $23.00 and set an "underweight" rating for the company in a report on Thursday, May 29th. Finally, UBS Group cut their target price on C3.ai from $28.00 to $27.00 and set a "neutral" rating for the company in a research report on Thursday. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $29.38.

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.