CM Management LLC Acquires New Position in C3.ai, Inc. (NYSE:AI)

CM Management LLC acquired a new stake in C3.ai, Inc. (NYSE:AI – Get Rating) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 50,000 shares of the company’s stock, valued at approximately $625,000.

A number of other hedge funds have also recently added to or reduced their stakes in AI. Point72 Hong Kong Ltd acquired a new stake in shares of C3.ai during the 2nd quarter valued at approximately $25,000. Ahrens Investment Partners LLC acquired a new stake in shares of C3.ai during the 2nd quarter valued at approximately $31,000. Canada Pension Plan Investment Board lifted its position in shares of C3.ai by 755.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,472 shares of the company’s stock valued at $34,000 after acquiring an additional 1,300 shares during the period. MetLife Investment Management LLC acquired a new stake in shares of C3.ai during the 1st quarter valued at approximately $44,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of C3.ai during the 2nd quarter valued at approximately $69,000. Institutional investors and hedge funds own 41.97% of the company’s stock.

C3.ai Trading Down 0.1 %

Shares of AI opened at $14.52 on Wednesday. The company’s fifty day moving average is $12.27 and its two-hundred day moving average is $14.69. C3.ai, Inc. has a fifty-two week low of $10.16 and a fifty-two week high of $27.62.

C3.ai (NYSE:AI – Get Rating) last announced its quarterly earnings results on Wednesday, December 7th. The company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.02). The company had revenue of $62.41 million during the quarter, compared to analyst estimates of $61.03 million. C3.ai had a negative net margin of 88.43% and a negative return on equity of 24.17%. As a group, equities analysts forecast that C3.ai, Inc. will post -2.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on AI shares. Canaccord Genuity Group started coverage on shares of C3.ai in a research report on Tuesday, October 11th. They set a “hold” rating and a $14.00 price target for the company. StockNews.com assumed coverage on shares of C3.ai in a research note on Wednesday, October 12th. They set a “sell” rating for the company. Piper Sandler dropped their price objective on shares of C3.ai from $14.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, December 8th. JMP Securities dropped their price objective on shares of C3.ai from $25.00 to $19.00 and set a “market outperform” rating for the company in a research note on Thursday, December 8th. Finally, Morgan Stanley dropped their price objective on shares of C3.ai from $13.00 to $12.00 in a research note on Thursday, December 8th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $15.33.

Insider Buying and Selling at C3.ai

In other C3.ai news, CFO Juho Parkkinen sold 4,436 shares of C3.ai stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $13.25, for a total value of $58,777.00. Following the transaction, the chief financial officer now owns 353,057 shares in the company, valued at approximately $4,678,005.25. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 5,922 shares of company stock worth $75,707 in the last quarter. 38.08% of the stock is owned by insiders.

C3.ai Company Profile

(Get Rating)

C3.ai, Inc operates as an enterprise artificial intelligence (AI) software company. The company provides software-as-a-service applications for enterprises. Its software solutions include C3 AI Suite, a platform-as-a-service application development and runtime environment that enables customers to design, develop, and deploy enterprise AI applications; and C3 AI Applications, which include industry-specific and application-specific turnkey AI solutions.