Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in C3.ai, Inc. (NYSE:AI - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 19,610 shares of the company's stock, valued at approximately $413,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of AI. Russell Investments Group Ltd. increased its holdings in C3.ai by 100.7% during 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 during the period. Orion Capital Management LLC acquired a new position in shares of C3.ai during the fourth quarter worth about $34,000. Raiffeisen Bank International AG purchased a new stake in shares of C3.ai during the fourth quarter worth approximately $36,000. Garde Capital Inc. acquired a new stake in C3.ai in the first quarter valued at approximately $29,000. Finally, CX Institutional acquired a new stake in C3.ai in the first quarter valued at approximately $34,000. 38.96% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, VP Merel Witteveen sold 5,485 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $23.95, for a total transaction of $131,365.75. Following the transaction, the vice president owned 13,740 shares of the company's stock, valued at $329,073. This trade represents a 28.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 sale, the director directly owned 161,664 shares of the company's stock, valued at approximately $4,253,379.84. This represents a 3.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,962,892 shares of company stock valued at $50,778,088. 33.54% of the stock is owned by insiders.
C3.ai Stock Down 4.8%
AI opened at $22.42 on Monday. C3.ai, Inc. has a 52 week low of $17.03 and a 52 week high of $45.08. The business's 50 day moving average is $25.46 and its two-hundred day moving average is $25.07. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of -10.01 and a beta of 1.98.
C3.ai (NYSE:AI - Get Free Report) last announced its earnings results on Wednesday, May 28th. The company reported ($0.16) EPS for the quarter, beating analysts' consensus estimates of ($0.20) by $0.04. C3.ai had a negative net margin of 74.21% and a negative return on equity of 33.51%. The business had revenue of $108.72 million for the quarter, compared to analysts' expectations of $107.85 million. During the same period in the previous year, the company posted ($0.11) EPS. The company's quarterly revenue was up 25.5% on a year-over-year basis. Equities analysts expect that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on AI. Needham & Company LLC reissued a "hold" rating on shares of C3.ai in a research report on Thursday, May 29th. DA Davidson lowered their target price on shares of C3.ai from $25.00 to $18.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Morgan Stanley raised their price target on C3.ai from $20.00 to $22.00 and gave the company an "underweight" rating in a research note on Thursday, May 29th. UBS Group decreased their price target on C3.ai from $28.00 to $27.00 and set a "neutral" rating for the company in a report on Thursday, June 26th. Finally, Westpark Capital upgraded C3.ai to a "strong-buy" rating and set a $40.00 price objective on the stock in a report on Wednesday, July 9th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $29.79.
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About C3.ai
(
Free Report)
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.
Further Reading

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