Versor Investments LP Raises Stake in C3.ai, Inc. (NYSE:AI)

Versor Investments LP lifted its position in shares of C3.ai, Inc. (NYSE:AI) by 16.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 14,900 shares of the company’s stock after buying an additional 2,100 shares during the quarter. Versor Investments LP’s holdings in C3.ai were worth $513,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Brown Lisle Cummings Inc. raised its holdings in C3.ai by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock valued at $28,000 after acquiring an additional 400 shares during the last quarter. R Squared Ltd purchased a new stake in shares of C3.ai in the fourth quarter valued at $29,000. CENTRAL TRUST Co acquired a new position in C3.ai in the fourth quarter valued at $34,000. Global Retirement Partners LLC lifted its position in C3.ai by 1,004.0% during the fourth quarter. Global Retirement Partners LLC now owns 1,115 shares of the company’s stock worth $38,000 after buying an additional 1,014 shares during the period. Finally, Quest Partners LLC boosted its stake in C3.ai by 9,033.3% in the 3rd quarter. Quest Partners LLC now owns 1,644 shares of the company’s stock worth $40,000 after buying an additional 1,626 shares during the last quarter. Institutional investors and hedge funds own 38.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AI. DA Davidson dropped their price objective on shares of C3.ai from $40.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday. Piper Sandler dropped their price target on shares of C3.ai from $42.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a report on Thursday. JMP Securities boosted their price objective on shares of C3.ai from $40.00 to $55.00 and gave the company a “market outperform” rating in a research note on Tuesday, December 10th. Finally, Northland Securities increased their target price on C3.ai from $35.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Five analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $31.33.

C3.ai Stock Performance

AI stock opened at $23.44 on Friday. The firm has a market cap of $3.03 billion, a P/E ratio of -10.61 and a beta of 1.98. C3.ai, Inc. has a 1 year low of $18.85 and a 1 year high of $45.08. The stock has a 50-day simple moving average of $32.39 and a 200-day simple moving average of $29.57.

C3.ai (NYSE:AI) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.37). The firm had revenue of $98.78 million during the quarter, compared to analyst estimates 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 year.

Insider Activity at C3.ai

In other C3.ai news, VP Merel Witteveen sold 11,132 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $34.95, for a total value of $389,063.40. Following the transaction, the vice president now directly owns 4,142 shares of the company’s stock, valued at $144,762.90. This represents a 72.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Thomas M. Siebel sold 409,831 shares of the stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $30.97, for a total value of $12,692,466.07. Following the transaction, the chief executive officer now owns 1,756,390 shares of the company’s stock, valued at approximately $54,395,398.30. This trade represents a 18.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,643,311 shares of company stock valued at $59,736,620. Corporate insiders own 33.54% of the company’s stock.

C3.ai Company 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.