Cookson Peirce & Co. Inc. Makes New $816,000 Investment in C3.ai, Inc. (NYSE:AI)

Cookson Peirce & Co. Inc. bought a new position in shares of C3.ai, Inc. (NYSE:AI) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 23,700 shares of the company’s stock, valued at approximately $816,000.

Several other large investors also recently made changes to their positions in AI. Brown Lisle Cummings Inc. grew its holdings in shares of C3.ai by 100.0% during 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 during the last quarter. R Squared Ltd bought a new stake in shares of C3.ai during the fourth quarter worth $29,000. CENTRAL TRUST Co bought a new position in C3.ai in the fourth quarter valued at about $34,000. Global Retirement Partners LLC boosted its holdings 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 last quarter. Finally, Quest Partners LLC boosted its holdings in C3.ai by 9,033.3% in the third quarter. Quest Partners LLC now owns 1,644 shares of the company’s stock valued at $40,000 after acquiring an additional 1,626 shares during the last quarter. Institutional investors own 38.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AI. Piper Sandler decreased their price target on C3.ai from $42.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. StockNews.com upgraded C3.ai to a “sell” rating in a report on Tuesday, November 26th. Northland Securities raised their price target on C3.ai from $35.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. cut C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price target on the stock. in a report on Wednesday, December 11th. Finally, KeyCorp decreased their price target on C3.ai from $29.00 to $21.00 and set an “underweight” rating on the stock in a report on Thursday, February 27th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $31.33.

Insiders Place Their Bets

In other news, CEO Thomas M. Siebel sold 552,422 shares of C3.ai stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $33.04, for a total transaction of $18,252,022.88. Following the completion of the transaction, the chief executive officer now directly owns 1,336,968 shares in the company, valued at approximately $44,173,422.72. The trade was a 29.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Hitesh Lath sold 3,949 shares of C3.ai stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $42.36, for a total value of $167,279.64. Following the transaction, the chief financial officer now owns 851 shares of the company’s stock, valued at $36,048.36. This represents a 82.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,643,311 shares of company stock valued at $59,736,620 in the last 90 days. 33.54% of the stock is currently owned by insiders.

C3.ai Stock Up 2.7 %

NYSE:AI opened at $22.70 on Thursday. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of -10.27 and a beta of 1.98. C3.ai, Inc. has a twelve month low of $18.85 and a twelve month high of $45.08. The stock’s 50 day moving average price is $31.59 and its two-hundred day moving average price is $29.51.

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 the consensus estimate of ($0.25) by ($0.37). The company had revenue of $98.78 million for the quarter, compared to analyst estimates of $98.12 million. C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. As a group, analysts anticipate that C3.ai, Inc. will post -2.44 earnings per share for the current 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.