IMG Wealth Management Inc. Acquires Shares of 2,261 C3.ai, Inc. (NYSE:AI)

IMG Wealth Management Inc. acquired a new stake in C3.ai, Inc. (NYSE:AI) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,261 shares of the company’s stock, valued at approximately $78,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Brown Lisle Cummings Inc. boosted its position in shares of C3.ai by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock valued at $28,000 after buying an additional 400 shares during the last quarter. R Squared Ltd purchased a new position in shares of C3.ai during the fourth quarter valued at approximately $29,000. CENTRAL TRUST Co purchased a new position in shares of C3.ai during the fourth quarter valued at approximately $34,000. Global Retirement Partners LLC boosted its position in shares of C3.ai by 1,004.0% during the fourth 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 during the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in shares of C3.ai by 72.4% during the fourth 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 during the last quarter. Institutional investors and hedge funds own 38.96% of the company’s stock.

Insider Activity at C3.ai

In related news, CEO Thomas M. Siebel sold 552,422 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $33.04, for a total transaction of $18,252,022.88. Following the completion of the transaction, the chief executive officer now directly owns 1,336,968 shares in the company, valued at $44,173,422.72. The trade was a 29.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard C. Levin sold 12,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $34.80, for a total value of $417,600.00. Following the transaction, the director now owns 161,664 shares of the company’s stock, valued at approximately $5,625,907.20. The trade was a 6.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,501,972 shares of company stock worth $53,818,532. 33.54% of the stock is owned by company insiders.

C3.ai Stock Performance

NYSE:AI opened at $21.57 on Monday. C3.ai, Inc. has a 52-week low of $18.85 and a 52-week high of $45.08. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of -9.76 and a beta of 2.03. The business’s fifty day moving average is $29.62 and its 200 day moving average is $29.40.

C3.ai (NYSE:AI) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.37). C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. The company had revenue of $98.78 million for the quarter, compared to the consensus estimate of $98.12 million. Equities analysts predict that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Morgan Stanley cut their target price on C3.ai from $32.00 to $30.00 and set an “underweight” rating on the stock in a research report on Thursday, February 27th. StockNews.com raised C3.ai to a “sell” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. cut C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price objective on the stock. in a research report on Wednesday, December 11th. Piper Sandler cut their price objective on C3.ai from $42.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Finally, DA Davidson cut their price objective on C3.ai from $40.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Five analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $31.33.

C3.ai Company 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.