Cibc World Markets Corp Purchases New Stake in C3.ai, Inc. (NYSE:AI)

Cibc World Markets Corp acquired a new position in shares of C3.ai, Inc. (NYSE:AI) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,353 shares of the company’s stock, valued at approximately $356,000.

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

Analyst Ratings Changes

AI has been the topic of a number of research analyst reports. StockNews.com upgraded shares of C3.ai to a “sell” rating in a research report on Tuesday, November 26th. KeyCorp cut their price objective on C3.ai from $29.00 to $21.00 and set an “underweight” rating on the stock in a report on Thursday, February 27th. JPMorgan Chase & Co. cut C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 target price for the company. in a report on Wednesday, December 11th. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research note on Thursday, February 27th. Finally, Piper Sandler lowered their price objective on C3.ai from $42.00 to $28.00 and set a “neutral” rating for the company 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 assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $31.33.

Insiders Place Their Bets

In other news, Director Richard C. Levin sold 12,000 shares of the firm’s stock in a transaction dated 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 sale, 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 in the company, valued at approximately $144,762.90. This trade represents a 72.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,510,546 shares of company stock worth $43,235,262. 33.54% of the stock is owned by corporate insiders.

C3.ai Stock Performance

Shares of NYSE AI opened at $23.47 on Tuesday. The company’s 50 day moving average price is $28.27 and its 200-day moving average price is $29.39. C3.ai, Inc. has a 52-week low of $18.85 and a 52-week high of $45.08. The company has a market capitalization of $3.12 billion, a P/E ratio of -10.62 and a beta of 2.03.

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). C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. The firm had revenue of $98.78 million for the quarter, compared to the consensus estimate of $98.12 million. Analysts forecast that C3.ai, Inc. will post -2.44 earnings per share for the current year.

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.