Maytree Asset Management Ltd Purchases New Shares in C3.ai, Inc. (NYSE:AI)

Maytree Asset Management Ltd purchased a new stake in shares of C3.ai, Inc. (NYSE:AI - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 18,200 shares of the company's stock, valued at approximately $383,000. C3.ai makes up approximately 0.7% of Maytree Asset Management Ltd's holdings, making the stock its 11th biggest holding.

Other institutional investors also recently modified their holdings of the company. Garde Capital Inc. purchased a new stake in shares of C3.ai during the 1st quarter valued at approximately $29,000. Russell Investments Group Ltd. lifted its stake in C3.ai by 100.7% in the 4th quarter. Russell Investments Group Ltd. now owns 909 shares of the company's stock worth $31,000 after purchasing an additional 456 shares in the last quarter. WealthTrak Capital Management LLC purchased a new stake in C3.ai in the 4th quarter worth approximately $33,000. Orion Capital Management LLC purchased a new stake in C3.ai in the 4th quarter worth approximately $34,000. Finally, CX Institutional purchased a new stake in C3.ai in the 1st quarter worth approximately $34,000. 38.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at C3.ai

In other C3.ai news, Director Richard C. Levin sold 6,000 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $26.31, for a total value of $157,860.00. Following the completion of the transaction, the director directly owned 161,664 shares in the company, valued at $4,253,379.84. This represents a 3.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Merel Witteveen sold 5,485 shares of the business's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $23.95, for a total value of $131,365.75. Following the completion of the transaction, the vice president owned 13,740 shares in the company, valued at $329,073. The trade was a 28.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,989,902 shares of company stock valued at $51,379,600 in the last three months. Corporate insiders own 33.54% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on AI. UBS Group lowered 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, June 26th. KeyCorp restated a "mixed" rating on shares of C3.ai in a research report on Thursday, May 29th. Wall Street Zen upgraded shares of C3.ai from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Needham & Company LLC restated a "hold" rating on shares of C3.ai in a research report on Thursday, May 29th. Finally, Oppenheimer cut their price target on shares of C3.ai from $56.00 to $45.00 and set an "outperform" rating on the stock in a report on Thursday, May 29th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $30.14.

C3.ai Stock Performance

Shares of AI stock traded down $3.16 during trading hours on Thursday, reaching $26.01. The company had a trading volume of 18,414,573 shares, compared to its average volume of 5,315,449. The business has a fifty day moving average price of $25.23 and a 200-day moving average price of $25.58. C3.ai, Inc. has a one year low of $17.03 and a one year high of $45.08. The firm has a market cap of $3.49 billion, a PE ratio of -11.61 and a beta of 1.99.

C3.ai (NYSE:AI - Get Free Report) last announced its quarterly 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 firm had revenue of $108.72 million during 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 33.51%. The business's revenue for the quarter was up 25.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.11) earnings per share. Equities research analysts forecast that C3.ai, Inc. will post -2.44 EPS 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.