C3.ai, Inc. (NYSE:AI) Position Boosted by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC boosted its holdings in shares of C3.ai, Inc. (NYSE:AI - Free Report) by 210.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,136 shares of the company's stock after acquiring an additional 38,760 shares during the period. Kingswood Wealth Advisors LLC's holdings in C3.ai were worth $1,220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Russell Investments Group Ltd. boosted its holdings in shares of 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 buying an additional 456 shares in the last quarter. WealthTrak Capital Management LLC purchased a new position in C3.ai during the 4th quarter worth approximately $33,000. Orion Capital Management LLC purchased a new position in shares of C3.ai during the 4th quarter valued at approximately $34,000. Raiffeisen Bank International AG purchased a new position in shares of C3.ai during the 4th quarter valued at approximately $36,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of C3.ai during the 4th quarter valued at approximately $36,000. 38.96% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Thomas M. Siebel sold 13,567 shares of the business's stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $19.47, for a total transaction of $264,149.49. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Hitesh Lath sold 4,368 shares of the stock in a transaction 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 directly owns 250 shares in the company, valued at $7,362.50. This trade represents a 94.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,752,730 shares of company stock valued at $41,551,316 in the last ninety days. Insiders own 33.54% of the company's stock.

C3.ai Stock Down 0.7%

NYSE:AI traded down $0.17 during trading hours on Monday, reaching $23.43. 4,289,630 shares of the company's stock were exchanged, compared to its average volume of 5,195,683. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of -10.46 and a beta of 2.04. C3.ai, Inc. has a 1-year low of $17.03 and a 1-year high of $45.08. The company has a 50-day moving average of $23.13 and a 200 day moving average of $27.26.

C3.ai (NYSE:AI - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.20) by $0.04. C3.ai had a negative net margin of 74.21% and a negative return on equity of 33.25%. The business had revenue of $108.72 million during the quarter, compared to the consensus estimate of $107.85 million. During the same quarter last year, the firm posted ($0.11) EPS. The business's revenue was up 25.5% compared to the same quarter last year. Research analysts forecast that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on AI shares. Wall Street Zen cut shares of C3.ai from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. Morgan Stanley boosted their target price on shares of C3.ai from $20.00 to $22.00 and gave the company an "underweight" rating in a report on Thursday, May 29th. JPMorgan Chase & Co. reduced their price target on shares of C3.ai from $27.00 to $23.00 and set an "underweight" rating on the stock in a research note on Thursday, May 29th. UBS Group reissued a "neutral" rating and issued a $28.00 price target (up from $26.00) on shares of C3.ai in a research note on Thursday, May 29th. Finally, Piper Sandler cut their target price on shares of C3.ai from $28.00 to $27.00 and set a "neutral" rating on the stock in a research note on Thursday, May 29th. Five investment 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. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $29.46.

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.