C3.ai, Inc. (NYSE:AI) Shares Purchased by KG&L Capital Management LLC

KG&L Capital Management LLC boosted its position in C3.ai, Inc. (NYSE:AI - Free Report) by 249.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,534 shares of the company's stock after purchasing an additional 41,076 shares during the period. KG&L Capital Management LLC's holdings in C3.ai were worth $1,211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Two Sigma Investments LP purchased a new position in shares of C3.ai during the fourth quarter worth approximately $42,306,000. Man Group plc purchased a new position in shares of C3.ai during the fourth quarter worth approximately $38,455,000. Two Sigma Advisers LP purchased a new position in shares of C3.ai during the fourth quarter worth approximately $30,725,000. Renaissance Technologies LLC increased its position in shares of C3.ai by 1,242.5% during the fourth quarter. Renaissance Technologies LLC now owns 718,231 shares of the company's stock worth $24,729,000 after acquiring an additional 664,731 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of C3.ai by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 12,935,969 shares of the company's stock worth $445,385,000 after acquiring an additional 446,529 shares during the period. Institutional investors own 38.96% of the company's stock.

Insider Activity at C3.ai

In other news, 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 value of $7,196,079.42. Following the completion of the sale, the chief executive officer now 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Merel Witteveen sold 1,710 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 9,225 shares of the company's stock, valued at approximately $241,971.75. This trade represents a 15.64% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,752,730 shares of company stock valued at $41,551,316. Corporate insiders own 33.54% of the company's stock.

C3.ai Trading Down 1.7%

Shares of C3.ai stock traded down $0.43 during trading hours on Friday, reaching $24.29. The stock had a trading volume of 6,926,295 shares, compared to its average volume of 5,237,736. The stock's 50 day moving average is $23.57 and its 200 day moving average is $26.70. The firm has a market capitalization of $3.26 billion, a PE ratio of -10.85 and a beta of 2.04. C3.ai, Inc. has a twelve month low of $17.03 and a twelve month high of $45.08.

C3.ai (NYSE:AI - Get Free Report) last released its earnings results on Wednesday, May 28th. The company reported ($0.16) EPS for the quarter, topping analysts' consensus estimates of ($0.20) by $0.04. The business had revenue of $108.72 million during the quarter, compared to analysts' expectations of $107.85 million. C3.ai had a negative net margin of 74.21% and a negative return on equity of 33.51%. The company's quarterly revenue was up 25.5% on a year-over-year basis. During the same quarter in the previous year, the company 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.

Analyst Ratings Changes

A number of brokerages have recently commented on AI. Morgan Stanley raised their target price on shares of C3.ai from $20.00 to $22.00 and gave the stock an "underweight" rating in a research report on Thursday, May 29th. Piper Sandler cut their price objective on shares of C3.ai from $28.00 to $27.00 and set a "neutral" rating on the stock in a report on Thursday, May 29th. JPMorgan Chase & Co. cut their price objective on shares of C3.ai from $27.00 to $23.00 and set an "underweight" rating on the stock in a report on Thursday, May 29th. Needham & Company LLC reissued a "hold" rating on shares of C3.ai in a 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 report on Thursday, May 29th. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, C3.ai currently has an average rating of "Hold" and an average target price of $29.38.

C3.ai 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.