Lesa Sroufe & Co Purchases 1,125 Shares of C3.ai, Inc. (NYSE:AI)

Lesa Sroufe & Co lifted its position in shares of C3.ai, Inc. (NYSE:AI) by 12.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,234 shares of the company’s stock after purchasing an additional 1,125 shares during the quarter. Lesa Sroufe & Co’s holdings in C3.ai were worth $277,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Orion Capital Management LLC bought a new position in shares of C3.ai during the third quarter worth $26,000. Toth Financial Advisory Corp lifted its position in C3.ai by 900.0% in the 1st quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock valued at $27,000 after acquiring an additional 900 shares in the last quarter. ICA Group Wealth Management LLC bought a new stake in C3.ai in the 4th quarter valued at $29,000. GPS Wealth Strategies Group LLC lifted its position in C3.ai by 87.9% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 1,351 shares of the company’s stock valued at $39,000 after acquiring an additional 632 shares in the last quarter. Finally, Pittenger & Anderson Inc. bought a new stake in C3.ai in the 4th quarter valued at $43,000. 38.96% of the stock is owned by institutional investors.

C3.ai Trading Down 0.5 %

Shares of C3.ai stock traded down $0.16 during trading on Thursday, hitting $29.80. 4,225,244 shares of the stock were exchanged, compared to its average volume of 6,553,282. The stock has a market capitalization of $3.72 billion, a price-to-earnings ratio of -13.20 and a beta of 1.83. The company has a fifty day moving average price of $27.47 and a 200-day moving average price of $27.10. C3.ai, Inc. has a 1-year low of $20.23 and a 1-year high of $44.90.

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

Wall Street Analyst Weigh In

Several research firms recently commented on AI. Wedbush reaffirmed an “outperform” rating and issued a $40.00 price objective on shares of C3.ai in a research report on Wednesday, May 29th. Canaccord Genuity Group cut their price objective on shares of C3.ai from $31.00 to $30.00 and set a “hold” rating on the stock in a research report on Thursday, May 30th. Northland Capmk raised shares of C3.ai from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 30th. Northland Securities raised shares of C3.ai from a “market perform” rating to an “outperform” rating and set a $35.00 price target on the stock in a research report on Thursday, May 30th. Finally, Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research report on Thursday, May 30th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $31.30.

Insider Activity at C3.ai

In related news, CFO Hitesh Lath sold 3,005 shares of the company’s stock in a transaction dated 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 approximately $203,668.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 34.00% of the stock is owned by company insiders.

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.