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

Global Assets Advisory LLC grew its position in C3.ai, Inc. (NYSE:AI - Free Report) by 190.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 90,873 shares of the company's stock after acquiring 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 filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Russell Investments Group Ltd. raised its holdings 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 worth $31,000 after purchasing an additional 456 shares during the period. WealthTrak Capital Management LLC bought a new stake in shares of C3.ai during the 4th quarter valued at about $33,000. Orion Capital Management LLC acquired a new stake in C3.ai during the fourth quarter worth about $34,000. Raiffeisen Bank International AG acquired a new stake in C3.ai during the fourth quarter worth about $36,000. Finally, Harvest Fund Management Co. Ltd bought a new position in C3.ai in the fourth quarter worth about $36,000. 38.96% of the stock is owned by institutional investors and hedge funds.

C3.ai Stock Performance

Shares of AI stock traded down $0.54 during midday trading on Wednesday, reaching $23.63. 4,001,371 shares of the company were exchanged, compared to its average volume of 5,194,618. The company's 50 day moving average price is $23.28 and its two-hundred day moving average price is $27.12. The company has a market cap of $3.14 billion, a P/E ratio of -10.55 and a beta of 2.04. C3.ai, Inc. has a 12 month low of $17.03 and a 12 month high of $45.08.

C3.ai (NYSE:AI - Get Free Report) last posted 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. The business had revenue of $108.72 million for the quarter, compared to analyst estimates of $107.85 million. C3.ai had a negative net margin of 74.21% and a negative return on equity of 33.25%. The business's revenue for the quarter was up 25.5% on a year-over-year basis. During the same quarter last year, the business earned ($0.11) earnings per share. As a group, sell-side analysts predict that C3.ai, Inc. will post -2.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AI has been the topic of several recent research reports. Oppenheimer cut their price target on C3.ai from $56.00 to $45.00 and set an "outperform" rating on the stock in a report on Thursday, May 29th. JPMorgan Chase & Co. dropped their target price on C3.ai from $27.00 to $23.00 and set an "underweight" rating on the stock in a research report on Thursday, May 29th. Morgan Stanley raised their target price on C3.ai from $20.00 to $22.00 and gave the company an "underweight" rating in a research note on Thursday, May 29th. Needham & Company LLC restated a "hold" rating on shares of C3.ai in a research report on Thursday, May 29th. Finally, Canaccord Genuity Group cut their price objective on shares of C3.ai from $30.00 to $28.00 and set a "hold" rating on the stock in a research report on Thursday, May 29th. Five research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, C3.ai has a consensus rating of "Hold" and a consensus price target of $29.46.

Insider Activity

In related news, VP Merel Witteveen sold 1,710 shares of the business's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $26.23, for a total value of $44,853.30. Following the sale, the vice president now directly owns 9,225 shares in the company, valued at $241,971.75. The trade was a 15.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Hitesh Lath sold 4,368 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $29.45, for a total transaction of $128,637.60. Following the sale, the chief financial officer now owns 250 shares of the company's stock, valued at $7,362.50. The trade was a 94.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,752,730 shares of company stock worth $41,551,316 over the last 90 days. 33.54% of the stock is currently owned by company insiders.

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.