Xponance Inc. Invests $273,000 in C3.ai, Inc. (NYSE:AI)

Xponance Inc. purchased a new stake in C3.ai, Inc. (NYSE:AI) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 7,927 shares of the company’s stock, valued at approximately $273,000.

Several other institutional investors have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its stake in shares of C3.ai by 12.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock valued at $20,460,000 after buying an additional 92,280 shares during the period. SBI Securities Co. Ltd. acquired a new stake in C3.ai in the fourth quarter worth about $3,996,000. PDT Partners LLC bought a new stake in C3.ai during the 3rd quarter worth about $1,624,000. Janney Montgomery Scott LLC lifted its position in C3.ai by 70.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 55,339 shares of the company’s stock valued at $1,905,000 after purchasing an additional 22,949 shares during the period. Finally, Strategic Financial Concepts LLC bought a new position in shares of C3.ai in the 4th quarter valued at about $2,015,000. Institutional investors own 38.96% of the company’s stock.

C3.ai Trading Down 2.2 %

AI opened at $22.53 on Friday. The stock has a market capitalization of $2.99 billion, a P/E ratio of -10.19 and a beta of 2.03. C3.ai, Inc. has a 12 month low of $18.85 and a 12 month high of $45.08. The firm’s fifty day simple moving average is $27.76 and its 200 day simple moving average is $29.31.

C3.ai (NYSE:AI) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.37). The firm had revenue of $98.78 million during the quarter, compared to the consensus estimate of $98.12 million. C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. On average, equities research analysts predict that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other C3.ai news, Director Richard C. Levin sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $34.80, for a total value of $417,600.00. Following the completion of the transaction, the director now directly owns 161,664 shares in the company, valued at $5,625,907.20. This trade represents a 6.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Merel Witteveen sold 1,133 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $22.25, for a total value of $25,209.25. Following the sale, the vice president now owns 7,287 shares in the company, valued at approximately $162,135.75. This represents a 13.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,510,546 shares of company stock valued at $43,235,262 in the last quarter. 33.54% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on AI shares. JPMorgan Chase & Co. lowered shares of C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price objective on the stock. in a report on Wednesday, December 11th. Morgan Stanley reduced their price target on C3.ai from $32.00 to $30.00 and set an “underweight” rating on the stock in a research report on Thursday, February 27th. JMP Securities upped their price objective on C3.ai from $40.00 to $55.00 and gave the company a “market outperform” rating in a report on Tuesday, December 10th. DA Davidson reduced their target price on C3.ai from $40.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research note on Thursday, February 27th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $31.33.

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.