GSA Capital Partners LLP Takes Position in C3.ai, Inc. $AI

GSA Capital Partners LLP acquired a new stake 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 and Exchange Commission (SEC). The institutional investor acquired 106,610 shares of the company’s stock, valued at approximately $1,437,000. GSA Capital Partners LLP owned approximately 0.08% of C3.ai as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of AI. Dimensional Fund Advisors LP boosted its position in C3.ai by 77.1% in the third quarter. Dimensional Fund Advisors LP now owns 1,804,188 shares of the company’s stock valued at $31,284,000 after buying an additional 785,508 shares during the last quarter. Two Sigma Investments LP purchased a new stake in C3.ai in the third quarter valued at approximately $13,379,000. Quantbot Technologies LP boosted its position in C3.ai by 2,831.4% in the third quarter. Quantbot Technologies LP now owns 554,472 shares of the company’s stock valued at $9,615,000 after buying an additional 535,557 shares during the last quarter. Bank of America Corp DE boosted its position in C3.ai by 358.9% in the third quarter. Bank of America Corp DE now owns 606,947 shares of the company’s stock valued at $10,524,000 after buying an additional 474,698 shares during the last quarter. Finally, Marshall Wace LLP boosted its position in C3.ai by 193.5% in the third quarter. Marshall Wace LLP now owns 522,194 shares of the company’s stock valued at $9,055,000 after buying an additional 344,264 shares during the last quarter. Hedge funds and other institutional investors own 38.96% of the company’s stock.

Insider Activity at C3.ai

In related news, CEO Thomas M. Siebel sold 369,624 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $8.72, for a total value of $3,223,121.28. Following the completion of the transaction, the chief executive officer directly owned 722,362 shares of the company’s stock, valued at approximately $6,298,996.64. This represents a 33.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jim H. Snabe acquired 25,000 shares of C3.ai stock in a transaction that occurred on Monday, March 9th. The stock was purchased at an average cost of $9.00 per share, with a total value of $225,000.00. Following the completion of the purchase, the director owned 395,000 shares in the company, valued at $3,555,000. The trade was a 6.76% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders sold 1,592,689 shares of company stock valued at $13,739,172. 26.50% of the stock is owned by insiders.

C3.ai Price Performance

Shares of AI stock opened at $9.25 on Thursday. The stock has a 50 day simple moving average of $8.83 and a 200-day simple moving average of $11.56. C3.ai, Inc. has a 1-year low of $7.68 and a 1-year high of $30.24. The company has a market cap of $1.34 billion, a price-to-earnings ratio of -2.93 and a beta of 2.00.

C3.ai (NYSE:AI) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.11). C3.ai had a negative net margin of 141.35% and a negative return on equity of 55.40%. The firm had revenue of $53.26 million during the quarter, compared to analyst estimates of $75.91 million. During the same period in the prior year, the company posted ($0.12) earnings per share. The firm’s revenue for the quarter was down 46.1% compared to the same quarter last year. Analysts anticipate that C3.ai, Inc. will post -3.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AI has been the topic of a number of recent research reports. DA Davidson reiterated an “underperform” rating and issued a $7.00 target price on shares of C3.ai in a research report on Wednesday, May 13th. Wedbush reiterated an “outperform” rating and issued a $15.00 target price on shares of C3.ai in a research report on Wednesday, May 13th. Citizens Jmp lowered C3.ai from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 26th. JPMorgan Chase & Co. dropped their target price on C3.ai from $10.00 to $7.00 and set an “underweight” rating on the stock in a research report on Thursday, February 26th. Finally, Canaccord Genuity Group upped their target price on C3.ai from $7.00 to $8.00 and gave the company a “hold” rating in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, seven have assigned a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, C3.ai presently has an average rating of “Reduce” and an average target price of $15.93.

About C3.ai

C3.ai, Inc is a leading enterprise software provider focused on delivering scalable artificial intelligence (AI) and Internet of Things (IoT) solutions to large organizations. The company’s core offering, the C3 AI Suite, is a comprehensive, model-driven platform that unifies data ingestion, model development, and application deployment. Through its suite of tools, C3.ai enables customers to accelerate digital transformation initiatives by applying advanced machine learning, predictive analytics, and AI-driven insights across a broad range of business functions.

The C3 AI Suite provides a low-code environment for data scientists and application developers to rapidly design, test, and deploy enterprise-scale AI applications.