WealthTrak Capital Management LLC Makes New $33,000 Investment in C3.ai, Inc. (NYSE:AI)

WealthTrak Capital Management LLC acquired a new stake in C3.ai, Inc. (NYSE:AI) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 960 shares of the company’s stock, valued at approximately $33,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Brown Lisle Cummings Inc. raised its position in C3.ai by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock worth $28,000 after purchasing an additional 400 shares in the last quarter. R Squared Ltd acquired a new position in shares of C3.ai in the 4th quarter worth approximately $29,000. CENTRAL TRUST Co bought a new position in shares of C3.ai during the 4th quarter worth approximately $34,000. Harvest Fund Management Co. Ltd acquired a new stake in C3.ai in the 4th quarter valued at $36,000. Finally, Global Retirement Partners LLC grew its position in C3.ai by 1,004.0% in the fourth quarter. Global Retirement Partners LLC now owns 1,115 shares of the company’s stock valued at $38,000 after acquiring an additional 1,014 shares during the period. 38.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AI has been the subject of a number of analyst reports. JMP Securities lifted 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 decreased their price objective on shares of C3.ai from $40.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a research note on Thursday, February 27th. Morgan Stanley decreased 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. Finally, Northland Securities lifted their price objective on C3.ai from $35.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Five research analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $31.33.

Insider Activity

In other C3.ai news, VP Merel Witteveen sold 1,133 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $22.25, for a total value of $25,209.25. Following the transaction, the vice president now owns 7,287 shares of the company’s stock, valued at approximately $162,135.75. This represents a 13.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Thomas M. Siebel sold 552,422 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $33.04, for a total value of $18,252,022.88. Following the transaction, the chief executive officer now owns 1,336,968 shares of the company’s stock, valued at $44,173,422.72. The trade was a 29.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,510,546 shares of company stock valued at $43,235,262 in the last 90 days. 33.54% of the stock is owned by company insiders.

C3.ai Stock Down 3.2 %

Shares of AI stock opened at $21.81 on Friday. The firm has a market cap of $2.89 billion, a price-to-earnings ratio of -9.87 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 stock has a 50-day moving average price of $27.55 and a 200 day moving average price of $29.32.

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

About C3.ai

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.