Jaffetilchin Investment Partners LLC Sells 4,475 Shares of C3.ai, Inc. (NYSE:AI)

Jaffetilchin Investment Partners LLC lessened its position in shares of C3.ai, Inc. (NYSE:AI) by 30.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,150 shares of the company’s stock after selling 4,475 shares during the period. Jaffetilchin Investment Partners LLC’s holdings in C3.ai were worth $294,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Forum Financial Management LP lifted its stake in C3.ai by 4.4% during the second quarter. Forum Financial Management LP now owns 12,893 shares of the company’s stock worth $373,000 after purchasing an additional 539 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of C3.ai by 4.3% during the 2nd quarter. Principal Financial Group Inc. now owns 11,165 shares of the company’s stock worth $323,000 after buying an additional 462 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of C3.ai by 5.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,434 shares of the company’s stock worth $650,000 after buying an additional 1,060 shares during the last quarter. Bank of New York Mellon Corp grew its position in C3.ai by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 771,540 shares of the company’s stock valued at $22,344,000 after acquiring an additional 1,929 shares during the last quarter. Finally, Unique Wealth Strategies LLC acquired a new position in C3.ai during the second quarter worth about $28,000. Institutional investors and hedge funds own 38.96% of the company’s stock.

Insider Activity

In related news, CFO Hitesh Lath sold 3,005 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $27.56, for a total value of $82,817.80. Following the transaction, the chief financial officer now owns 7,390 shares in the company, valued at $203,668.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 34.00% of the company’s stock.

C3.ai Trading Up 1.2 %

Shares of AI stock opened at $23.34 on Friday. C3.ai, Inc. has a 1-year low of $20.23 and a 1-year high of $38.30. The stock has a market cap of $2.91 billion, a price-to-earnings ratio of -9.97 and a beta of 1.83. The stock has a 50-day moving average of $26.72 and a 200-day moving average of $26.86.

C3.ai (NYSE:AI) last released its earnings results on Wednesday, May 29th. The company reported ($0.59) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.18. The business had revenue of $86.59 million during the quarter, compared to the consensus estimate of $84.45 million. C3.ai had a negative net margin of 93.36% and a negative return on equity of 30.95%. Sell-side analysts forecast that C3.ai, Inc. will post -2.35 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AI. Canaccord Genuity Group reduced their price target on shares of C3.ai from $31.00 to $30.00 and set a “hold” rating on the stock in a research note on Thursday, May 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research note on Thursday, May 30th. Piper Sandler dropped their price target on C3.ai from $33.00 to $29.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. Morgan Stanley boosted their price objective on C3.ai from $21.00 to $23.00 and gave the stock an “underweight” rating in a research report on Thursday, May 30th. Finally, Northland Securities upgraded C3.ai from a “market perform” rating to an “outperform” rating and set a $35.00 target price for the company in a research report on Thursday, May 30th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $30.33.

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.