Cookson Peirce & Co. Inc. Takes Position in C3.ai, Inc. (NYSE:AI)

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

Other large investors also recently made changes to their positions in the company. Brown Lisle Cummings Inc. increased its holdings in shares of C3.ai by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock valued at $28,000 after purchasing an additional 400 shares during the period. R Squared Ltd bought a new stake in shares of C3.ai in the 4th quarter valued at approximately $29,000. CENTRAL TRUST Co bought a new stake in shares of C3.ai in the 4th quarter valued at approximately $34,000. Global Retirement Partners LLC grew its stake in shares of C3.ai by 1,004.0% in the 4th quarter. Global Retirement Partners LLC now owns 1,115 shares of the company’s stock valued at $38,000 after buying an additional 1,014 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in shares of C3.ai by 72.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,322 shares of the company’s stock valued at $46,000 after buying an additional 555 shares in the last quarter. Institutional investors and hedge funds own 38.96% of the company’s stock.

C3.ai Trading Up 2.7 %

AI opened at $22.70 on Thursday. C3.ai, Inc. has a 1-year low of $18.85 and a 1-year high of $45.08. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of -10.27 and a beta of 1.98. The business has a 50 day moving average of $31.59 and a 200-day moving average of $29.51.

C3.ai (NYSE:AI) last posted its quarterly earnings data 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 business had revenue of $98.78 million during the quarter, compared to the consensus estimate of $98.12 million. C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. Equities analysts predict that C3.ai, Inc. will post -2.44 EPS for the current year.

Insider Activity at C3.ai

In related news, Director Richard C. Levin sold 12,000 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $29.84, for a total value of $358,080.00. Following the completion of the transaction, the director now directly owns 161,664 shares in the company, valued at approximately $4,824,053.76. This represents a 6.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Thomas M. Siebel sold 552,422 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $33.04, for a total value of $18,252,022.88. Following the transaction, the chief executive officer now owns 1,336,968 shares of the company’s stock, valued at $44,173,422.72. This represents a 29.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,643,311 shares of company stock worth $59,736,620. 33.54% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AI shares. Piper Sandler lowered their price target on C3.ai from $42.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research note on Thursday, February 27th. StockNews.com raised C3.ai to a “sell” rating in a research note on Tuesday, November 26th. Canaccord Genuity Group lowered their price target on C3.ai from $40.00 to $30.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Finally, Northland Securities upped their target price on C3.ai from $35.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Five research analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $31.33.

C3.ai Profile

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.