Jupiter Wealth Management LLC Takes $387,000 Position in C3.ai, Inc. (NYSE:AI)

Jupiter Wealth Management LLC bought a new stake in C3.ai, Inc. (NYSE:AI - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 11,250 shares of the company's stock, valued at approximately $387,000.

Several other institutional investors and hedge funds also recently made changes to their positions in AI. Vanguard Group Inc. raised its stake in C3.ai by 3.6% in 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 in the last quarter. Geode Capital Management LLC increased its holdings in shares of C3.ai by 14.1% during the fourth quarter. Geode Capital Management LLC now owns 2,529,991 shares of the company's stock worth $87,128,000 after purchasing an additional 313,066 shares during the period. Two Sigma Investments LP acquired a new stake in shares of C3.ai in the fourth quarter valued at approximately $42,306,000. Man Group plc bought a new stake in shares of C3.ai in the fourth quarter valued at approximately $38,455,000. Finally, Northern Trust Corp grew its position in C3.ai by 28.7% during the fourth quarter. Northern Trust Corp now owns 1,055,075 shares of the company's stock worth $36,326,000 after buying an additional 235,364 shares in the last quarter. Institutional investors and hedge funds own 38.96% of the company's stock.

Insiders Place Their Bets

In other news, CEO Thomas M. Siebel sold 13,567 shares of the firm's stock in a transaction dated 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas M. Siebel sold 356,418 shares of the stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $20.19, for a total transaction of $7,196,079.42. Following the sale, the chief executive officer now directly owns 241,768 shares of the company's stock, valued at $4,881,295.92. This represents a 59.58% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,528,714 shares of company stock valued at $34,019,130. 33.54% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AI. KeyCorp dropped their price objective on C3.ai from $21.00 to $17.00 and set an "underweight" rating for the company in a report on Thursday, April 17th. Morgan Stanley reduced their price objective on shares of C3.ai from $30.00 to $20.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 16th. Piper Sandler decreased their target price on shares of C3.ai from $42.00 to $28.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Canaccord Genuity Group reduced their target price on C3.ai from $40.00 to $30.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of C3.ai in a research note on Thursday, February 27th. Five analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, C3.ai presently has a consensus rating of "Hold" and an average target price of $29.58.

C3.ai Trading Up 5.4%

NYSE:AI traded up $1.22 during mid-day trading on Tuesday, hitting $23.94. 7,287,675 shares of the company's stock were exchanged, compared to its average volume of 5,146,074. C3.ai, Inc. has a fifty-two week low of $17.03 and a fifty-two week high of $45.08. The firm has a market capitalization of $3.18 billion, a P/E ratio of -10.83 and a beta of 1.99. The company has a 50 day simple moving average of $21.68 and a 200-day simple moving average of $28.37.

C3.ai (NYSE:AI - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.62) EPS for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.37). The business had revenue of $98.78 million for the quarter, compared to analyst estimates of $98.12 million. C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. As a group, analysts expect 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.