Neo Ivy Capital Management Purchases Shares of 106,896 C3.ai, Inc. (NYSE:AI)

Neo Ivy Capital Management purchased a new stake in shares of C3.ai, Inc. (NYSE:AI - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 106,896 shares of the company's stock, valued at approximately $3,680,000. Neo Ivy Capital Management owned about 0.08% of C3.ai as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in AI. Brown Lisle Cummings Inc. boosted its stake in C3.ai by 100.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company's stock valued at $28,000 after purchasing an additional 400 shares during the last quarter. R Squared Ltd acquired a new position in C3.ai during the 4th quarter valued at about $29,000. Russell Investments Group Ltd. boosted its stake in C3.ai by 100.7% during the 4th quarter. Russell Investments Group Ltd. now owns 909 shares of the company's stock valued at $31,000 after purchasing an additional 456 shares during the last quarter. WealthTrak Capital Management LLC bought a new position in shares of C3.ai during the 4th quarter worth approximately $33,000. Finally, CENTRAL TRUST Co bought a new position in shares of C3.ai during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 38.96% of the company's stock.

C3.ai Stock Performance

AI stock traded up $1.22 during midday trading on Tuesday, reaching $23.94. 7,272,698 shares of the company's stock traded hands, compared to its average volume of 5,145,905. The company has a 50-day moving average price of $21.68 and a two-hundred day moving average price of $28.37. C3.ai, Inc. has a 52 week low of $17.03 and a 52 week high of $45.08. The firm has a market capitalization of $3.18 billion, a PE ratio of -10.83 and a beta of 1.99.

C3.ai (NYSE:AI - Get Free Report) last issued its earnings results on Wednesday, February 26th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.37). C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. The business had revenue of $98.78 million for the quarter, compared to the consensus estimate of $98.12 million. As a group, analysts predict that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Insider Buying and Selling at C3.ai

In related news, VP Merel Witteveen sold 5,719 shares of the company's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $23.32, for a total value of $133,367.08. Following the completion of the transaction, the vice president now directly owns 12,066 shares in the company, valued at approximately $281,379.12. The trade was a 32.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas M. Siebel sold 294,116 shares of the company's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $21.50, for a total transaction of $6,323,494.00. Following the completion of the transaction, the chief executive officer now owns 943,151 shares of the company's stock, valued at $20,277,746.50. This trade represents a 23.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,528,714 shares of company stock valued at $34,019,130 in the last 90 days. 33.54% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have commented on AI. DA Davidson dropped their target price on shares of C3.ai from $25.00 to $18.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Piper Sandler dropped their target price on shares of C3.ai from $42.00 to $28.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. Needham & Company LLC reissued a "hold" rating on shares of C3.ai in a research report on Thursday, February 27th. Canaccord Genuity Group dropped their target price on shares of C3.ai from $40.00 to $30.00 and set a "hold" rating on the stock in a research report on Thursday, February 27th. Finally, KeyCorp dropped their target price on shares of C3.ai from $21.00 to $17.00 and set an "underweight" rating on the stock in a research report on Thursday, April 17th. Five investment analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $29.58.

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.