Scientech Research LLC Acquires Shares of 28,809 C3.ai, Inc. $AI

Key Points

• Scientech Research LLC has invested approximately $606,000 in C3.ai, Inc. by purchasing 28,809 shares in the first quarter of 2023.
• Analysts have varied opinions on C3.ai, with a range of price targets; Westpark Capital set a target of $40.00 while DA Davidson lowered it to $13.00.
• C3.ai reported a quarterly revenue of $70.26 million, significantly below analysts' expectations, along with a loss per share of ($0.86) for the quarter ending September 3rd.

Scientech Research LLC purchased a new stake in shares of C3.ai, Inc. (NYSE:AI - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 28,809 shares of the company's stock, valued at approximately $606,000.

Several other large investors have also recently made changes to their positions in the business. Garde Capital Inc. bought a new position in shares of C3.ai during the 1st quarter valued at $29,000. Orion Capital Management LLC purchased a new stake in C3.ai during the fourth quarter valued at about $34,000. CX Institutional bought a new position in shares of C3.ai during the first quarter valued at about $34,000. Raiffeisen Bank International AG bought a new position in shares of C3.ai during the fourth quarter valued at about $36,000. Finally, Versant Capital Management Inc increased its holdings 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 worth $39,000 after buying an additional 1,507 shares during the period. 38.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Hitesh Lath sold 17,689 shares of the company's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $24.96, for a total value of $441,517.44. Following the sale, the chief financial officer owned 166,218 shares in the company, valued at $4,148,801.28. This represents a 9.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Thomas M. Siebel sold 17,200 shares of C3.ai stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $16.49, for a total value of $283,628.00. Following the transaction, the chairman owned 15,536 shares of the company's stock, valued at $256,188.64. The trade was a 52.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,549,560 shares of company stock valued at $35,193,771 over the last quarter. Corporate insiders own 26.50% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on AI. Morgan Stanley lowered their price objective on C3.ai from $22.00 to $11.00 and set an "underweight" rating for the company in a research report on Tuesday. Oppenheimer reaffirmed a "market perform" rating on shares of C3.ai in a research report on Tuesday, August 12th. Needham & Company LLC reiterated a "hold" rating on shares of C3.ai in a research report on Thursday, September 4th. Northland Securities downgraded C3.ai from an "outperform" rating to a "market perform" rating and set a $17.00 target price for the company. in a report on Tuesday, August 12th. Finally, Wall Street Zen lowered C3.ai from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Reduce" and an average price target of $22.09.

C3.ai Price Performance

AI stock traded up $0.05 during midday trading on Friday, hitting $16.45. The stock had a trading volume of 8,901,988 shares, compared to its average volume of 8,565,598. The business has a 50-day moving average of $21.31 and a two-hundred day moving average of $22.26. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of -6.33 and a beta of 1.96. C3.ai, Inc. has a 52-week low of $14.70 and a 52-week high of $45.08.

C3.ai (NYSE:AI - Get Free Report) last announced its earnings results on Wednesday, September 3rd. The company reported ($0.86) EPS for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.65). The business had revenue of $70.26 million for the quarter, compared to the consensus estimate of $104.02 million. C3.ai had a negative net margin of 92.08% and a negative return on equity of 40.69%. The business's quarterly revenue was down 19.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.05) EPS. C3.ai has set its Q2 2026 guidance at EPS. Research analysts predict that C3.ai, Inc. will post -2.44 earnings per share for the current year.

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.