Virtu Financial LLC Invests $871,000 in C3.ai, Inc. $AI

Virtu Financial LLC bought 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. The institutional investor bought 64,586 shares of the company’s stock, valued at approximately $871,000.

Several other large investors have also added to or reduced their stakes in the business. Invesco Ltd. lifted its position in shares of C3.ai by 29.5% during the 4th quarter. Invesco Ltd. now owns 452,653 shares of the company’s stock valued at $6,102,000 after acquiring an additional 103,058 shares during the period. Axxcess Wealth Management LLC grew its holdings in C3.ai by 12.5% in the fourth quarter. Axxcess Wealth Management LLC now owns 45,000 shares of the company’s stock worth $607,000 after purchasing an additional 5,000 shares during the period. VARCOV Co. bought a new stake in C3.ai in the fourth quarter valued at $2,409,000. Voloridge Investment Management LLC bought a new stake in C3.ai in the fourth quarter valued at $9,183,000. Finally, Summit Securities Group LLC acquired a new position in shares of C3.ai during the fourth quarter valued at about $40,000. Institutional investors and hedge funds own 38.96% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Thomas M. Siebel sold 472,005 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $11.11, for a total transaction of $5,243,975.55. Following the completion of the transaction, the chief executive officer owned 722,362 shares of the company’s stock, valued at approximately $8,025,441.82. The trade was a 39.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Hitesh Lath sold 34,210 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $10.95, for a total transaction of $374,599.50. Following the completion of the sale, the chief financial officer owned 233,106 shares in the company, valued at $2,552,510.70. This represents a 12.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 1,599,644 shares of company stock worth $15,059,516 in the last quarter. 26.50% of the stock is owned by company insiders.

C3.ai Trading Up 0.0%

C3.ai stock opened at $10.30 on Monday. The business’s 50 day simple moving average is $9.65 and its 200 day simple moving average is $10.90. C3.ai, Inc. has a 12 month low of $7.68 and a 12 month high of $30.11. The company has a market cap of $1.50 billion, a price-to-earnings ratio of -3.09 and a beta of 2.04.

C3.ai (NYSE:AI) last announced its quarterly earnings data on Wednesday, June 3rd. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.38) by $0.05. The company had revenue of $51.60 million during the quarter, compared to analyst estimates of $51.60 million. C3.ai had a negative return on equity of 60.20% and a negative net margin of 187.95%.The firm’s revenue for the quarter was down 52.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.16) EPS. As a group, equities research analysts forecast that C3.ai, Inc. will post -2.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Morgan Stanley upped their target price on C3.ai from $6.00 to $7.00 and gave the stock an “underweight” rating in a research report on Thursday, June 4th. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research report on Thursday, June 4th. KeyCorp restated an “underweight” rating on shares of C3.ai in a research note on Thursday, June 4th. JPMorgan Chase & Co. lowered their price objective on shares of C3.ai from $10.00 to $7.00 and set an “underweight” rating on the stock in a report on Thursday, February 26th. Finally, Citizens Jmp reaffirmed a “market perform” rating on shares of C3.ai in a research note on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, six have issued a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $12.92.

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.