Scientech Research LLC Buys 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 bought a new position in C3.ai, Inc. (NYSE:AI - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 28,809 shares of the company's stock, valued at approximately $606,000.

Several other hedge funds also recently bought and sold shares of AI. Garde Capital Inc. bought a new position in shares of C3.ai in the 1st quarter valued at about $29,000. Orion Capital Management LLC purchased a new position in shares of C3.ai during the fourth quarter worth approximately $34,000. CX Institutional purchased a new position in C3.ai during the first quarter valued at approximately $34,000. Raiffeisen Bank International AG purchased a new position in C3.ai during the fourth quarter valued at approximately $36,000. Finally, Versant Capital Management Inc boosted its stake in 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. Institutional investors own 38.96% of the company's stock.

C3.ai Trading Up 5.1%

Shares of C3.ai stock traded up $0.80 during trading hours on Thursday, reaching $16.41. The stock had a trading volume of 5,995,606 shares, compared to its average volume of 6,344,602. The stock's 50 day moving average is $21.68 and its 200 day moving average is $22.40. The firm has a market capitalization of $2.21 billion, a PE ratio of -6.29 and a beta of 1.96. C3.ai, Inc. has a twelve month low of $14.70 and a twelve month high of $45.08.

C3.ai (NYSE:AI - Get Free Report) last released its quarterly earnings results on Wednesday, September 3rd. The company reported ($0.86) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.65). C3.ai had a negative return on equity of 40.06% and a negative net margin of 92.08%.The company had revenue of $70.26 million for the quarter, compared to analyst estimates of $104.02 million. During the same quarter last year, the company earned ($0.05) EPS. The firm's revenue for the quarter was down 19.4% on a year-over-year basis. C3.ai has set its Q2 2026 guidance at EPS. As a group, 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 research analysts have recently commented on AI shares. Northland Capmk downgraded shares of C3.ai from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 11th. JMP Securities lowered their price objective on shares of C3.ai from $30.00 to $24.00 and set a "market outperform" rating for the company in a research note on Thursday, September 4th. Morgan Stanley lowered their price objective on shares of C3.ai from $22.00 to $11.00 and set an "underweight" rating for the company in a research note on Tuesday. Wall Street Zen downgraded shares of C3.ai from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Finally, Westpark Capital upgraded shares of C3.ai to a "strong-buy" rating and set a $40.00 target price for the company in a research report on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, C3.ai presently has an average rating of "Reduce" and an average target price of $22.00.

Insider Activity at C3.ai

In related news, VP Merel Witteveen sold 5,485 shares of the company's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $23.95, for a total transaction of $131,365.75. Following the completion of the sale, the vice president owned 13,740 shares of the company's stock, valued at approximately $329,073. This represents a 28.53% decrease in their position. 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 589,468 shares of the company's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $28.58, for a total transaction of $16,846,995.44. Following the sale, the chief executive officer directly owned 3,227,334 shares of the company's stock, valued at approximately $92,237,205.72. This represents a 15.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,559,560 shares of company stock worth $35,431,271 in the last quarter. Company insiders own 26.50% of the company's stock.

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.