Kingswood Wealth Advisors LLC Has $1.22 Million Stock Position in C3.ai, Inc. (NYSE:AI)

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

A number of other hedge funds have also bought and sold shares of the business. Russell Investments Group Ltd. raised 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 valued at $31,000 after acquiring an additional 456 shares in the last quarter. Legal & General Group Plc raised its stake in C3.ai by 0.4% in the fourth quarter. Legal & General Group Plc now owns 119,144 shares of the company's stock valued at $4,102,000 after purchasing an additional 517 shares in the last quarter. Corient Private Wealth LLC lifted its position in C3.ai by 2.4% during the fourth quarter. Corient Private Wealth LLC now owns 23,371 shares of the company's stock worth $805,000 after purchasing an additional 555 shares during the period. CIBC Private Wealth Group LLC grew its stake in C3.ai by 35.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,128 shares of the company's stock worth $71,000 after buying an additional 560 shares in the last quarter. Finally, Beacon Pointe Advisors LLC increased its holdings in C3.ai by 3.2% in the 4th quarter. Beacon Pointe Advisors LLC now owns 24,960 shares of the company's stock valued at $859,000 after buying an additional 781 shares during the period. 38.96% of the stock is owned by institutional investors.

C3.ai Stock Performance

AI stock opened at $24.13 on Friday. The company has a fifty day moving average price of $23.07 and a 200-day moving average price of $27.50. The company has a market capitalization of $3.20 billion, a P/E ratio of -10.77 and a beta of 2.04. C3.ai, Inc. has a 52-week low of $17.03 and a 52-week 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) earnings per share for the quarter, beating analysts' consensus estimates of ($0.20) by $0.04. The business had revenue of $108.72 million during the quarter, compared to the consensus estimate of $107.85 million. C3.ai had a negative return on equity of 33.25% and a negative net margin of 74.21%. C3.ai's quarterly revenue was up 25.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.11) earnings per share. As a group, sell-side analysts forecast that C3.ai, Inc. will post -2.44 earnings per share for the current fiscal year.

Insider Activity

In other C3.ai news, CFO Hitesh Lath sold 4,368 shares of the stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $29.45, for a total transaction of $128,637.60. Following the completion of the sale, the chief financial officer now owns 250 shares of the company's stock, valued at approximately $7,362.50. This represents a 94.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Merel Witteveen sold 1,710 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $26.23, for a total transaction of $44,853.30. Following the completion of the transaction, the vice president now owns 9,225 shares in the company, valued at $241,971.75. This trade represents a 15.64% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,752,730 shares of company stock valued at $41,551,316. Company insiders own 33.54% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on AI shares. Wall Street Zen downgraded shares of C3.ai from a "hold" rating to a "sell" rating in a report on Friday, June 6th. Canaccord Genuity Group lowered their price objective on shares of C3.ai from $30.00 to $28.00 and set a "hold" rating for the company in a research report on Thursday, May 29th. UBS Group restated a "neutral" rating and set a $28.00 target price (up from $26.00) on shares of C3.ai in a research note on Thursday, May 29th. Piper Sandler decreased their price target on C3.ai from $28.00 to $27.00 and set a "neutral" rating on the stock in a research note on Thursday, May 29th. Finally, Oppenheimer dropped their price objective on C3.ai from $56.00 to $45.00 and set an "outperform" rating for the company in a research report on Thursday, May 29th. Five equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price 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.

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