Russell Investments Group Ltd. Buys 74,837 Shares of C3.ai, Inc. $AI

Russell Investments Group Ltd. lifted its holdings in C3.ai, Inc. (NYSE:AI - Free Report) by 8,232.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 75,746 shares of the company's stock after acquiring an additional 74,837 shares during the period. Russell Investments Group Ltd. owned approximately 0.06% of C3.ai worth $1,594,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Orion Capital Management LLC acquired a new position in shares of C3.ai in the fourth quarter valued at about $34,000. Raiffeisen Bank International AG acquired a new position in shares of C3.ai in the fourth quarter valued at about $36,000. Garde Capital Inc. acquired a new position in shares of C3.ai in the first quarter valued at about $29,000. CX Institutional acquired a new position in shares of C3.ai in the first quarter valued at about $34,000. Finally, Versant Capital Management Inc grew its stake in shares of C3.ai by 417.5% in the first quarter. Versant Capital Management Inc now owns 1,868 shares of the company's stock valued at $39,000 after acquiring an additional 1,507 shares in the last quarter. 38.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other C3.ai news, CFO Hitesh Lath sold 17,689 shares of the business's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $24.96, for a total transaction of $441,517.44. Following the completion of the transaction, the chief financial officer owned 166,218 shares of the company's stock, valued at approximately $4,148,801.28. The trade was a 9.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Merel Witteveen sold 5,485 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $23.95, for a total value of $131,365.75. Following the transaction, the vice president directly owned 13,740 shares of the company's stock, valued at approximately $329,073. The trade was a 28.53% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,168,568 shares of company stock valued at $50,846,936. Corporate insiders own 26.50% of the company's stock.

C3.ai Trading Up 2.5%

Shares of NYSE AI opened at $17.33 on Thursday. The company has a market cap of $2.33 billion, a price-to-earnings ratio of -7.73 and a beta of 1.98. C3.ai, Inc. has a 12 month low of $14.70 and a 12 month high of $45.08. The stock has a 50-day moving average price of $23.29 and a two-hundred day moving average price of $23.46.

C3.ai (NYSE:AI - Get Free Report) last issued its earnings results on Wednesday, May 28th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.04. The firm 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 33.51% and a negative net margin of 74.21%.The business's quarterly revenue was up 25.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.11) earnings per share. On average, sell-side analysts predict that C3.ai, Inc. will post -2.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Wall Street Zen downgraded shares of C3.ai from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Northland Securities cut shares of C3.ai from an "outperform" rating to a "market perform" rating and set a $17.00 price objective for the company. in a research report on Tuesday, August 12th. Morgan Stanley upped their price objective 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. DA Davidson reaffirmed an "underperform" rating and set a $13.00 price objective (down previously from $25.00) on shares of C3.ai in a research report on Monday, August 11th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $50.00 price objective on shares of C3.ai in a research report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eight have given a Hold rating and five have issued a Sell rating to the company's stock. Based on data from MarketBeat, C3.ai presently has a consensus rating of "Reduce" and an average target price of $27.43.

About C3.ai

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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