SG Americas Securities LLC Purchases 164,537 Shares of C3.ai, Inc. $AI

SG Americas Securities LLC raised its position in C3.ai, Inc. (NYSE:AI) by 1,149.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 178,846 shares of the company’s stock after purchasing an additional 164,537 shares during the quarter. SG Americas Securities LLC owned 0.13% of C3.ai worth $3,101,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp lifted its stake in shares of C3.ai by 4.3% during the 2nd quarter. State Street Corp now owns 2,826,249 shares of the company’s stock worth $69,441,000 after acquiring an additional 116,611 shares during the last quarter. Geode Capital Management LLC grew its position in C3.ai by 5.9% in the 2nd quarter. Geode Capital Management LLC now owns 2,813,233 shares of the company’s stock valued at $69,129,000 after acquiring an additional 156,925 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in C3.ai by 2.6% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,214,190 shares of the company’s stock worth $54,401,000 after purchasing an additional 56,887 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of C3.ai by 1,481.6% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 502,173 shares of the company’s stock worth $12,338,000 after purchasing an additional 470,422 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in shares of C3.ai by 82.7% during the second quarter. Canada Pension Plan Investment Board now owns 371,300 shares of the company’s stock valued at $9,123,000 after purchasing an additional 168,100 shares during the period. Institutional investors own 38.96% of the company’s stock.

C3.ai Stock Up 0.7%

Shares of AI stock opened at $14.12 on Tuesday. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of -4.99 and a beta of 1.97. C3.ai, Inc. has a 52-week low of $12.59 and a 52-week high of $35.98. The company’s 50 day moving average is $14.42 and its 200 day moving average is $18.22.

C3.ai (NYSE:AI) last posted its earnings results on Wednesday, December 3rd. The company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.08. C3.ai had a negative return on equity of 46.51% and a negative net margin of 108.06%.The company had revenue of $75.15 million during the quarter, compared to analyst estimates of $74.86 million. During the same quarter in the prior year, the business earned ($0.06) earnings per share. C3.ai’s revenue was down 20.3% on a year-over-year basis. Analysts anticipate that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Insider Activity at C3.ai

In other C3.ai news, CEO Stephen Bradley Ehikian sold 234,918 shares of C3.ai stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $13.56, for a total value of $3,185,488.08. Following the transaction, the chief executive officer owned 924,074 shares in the company, valued at $12,530,443.44. The trade was a 20.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Hitesh Lath sold 15,042 shares of the stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $14.38, for a total transaction of $216,303.96. Following the sale, the chief financial officer directly owned 223,120 shares of the company’s stock, valued at approximately $3,208,465.60. The trade was a 6.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,394,043 shares of company stock valued at $20,408,271 over the last quarter. 26.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently commented on AI. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $16.00 price target on shares of C3.ai in a research note on Thursday, December 4th. DA Davidson restated an “underperform” rating and issued a $13.00 target price on shares of C3.ai in a research note on Thursday, December 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of C3.ai in a research note on Wednesday, October 8th. Wedbush reiterated an “outperform” rating and issued a $20.00 price target on shares of C3.ai in a report on Thursday, December 4th. Finally, Needham & Company LLC restated a “hold” rating on shares of C3.ai in a report on Thursday, December 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $21.92.

C3.ai Profile

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.