WealthTrak Capital Management LLC Invests $33,000 in C3.ai, Inc. (NYSE:AI)

WealthTrak Capital Management LLC purchased a new stake in C3.ai, Inc. (NYSE:AI) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 960 shares of the company’s stock, valued at approximately $33,000.

Other institutional investors have also recently bought and sold shares of the company. Brown Lisle Cummings Inc. boosted its holdings in shares of C3.ai by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock worth $28,000 after buying an additional 400 shares during the period. R Squared Ltd purchased a new stake in shares of C3.ai in the 4th quarter valued at approximately $29,000. CENTRAL TRUST Co acquired a new position in C3.ai in the 4th quarter worth approximately $34,000. Harvest Fund Management Co. Ltd purchased a new position in C3.ai during the 4th quarter worth approximately $36,000. Finally, Global Retirement Partners LLC raised its stake in C3.ai by 1,004.0% during the 4th quarter. Global Retirement Partners LLC now owns 1,115 shares of the company’s stock valued at $38,000 after purchasing an additional 1,014 shares during the period. Hedge funds and other institutional investors own 38.96% of the company’s stock.

Insiders Place Their Bets

In other news, VP Merel Witteveen sold 11,132 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $34.95, for a total transaction of $389,063.40. Following the completion of the transaction, the vice president now directly owns 4,142 shares in the company, valued at $144,762.90. The trade was a 72.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard C. Levin sold 12,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $34.80, for a total transaction of $417,600.00. Following the completion of the sale, the director now owns 161,664 shares in the company, valued at approximately $5,625,907.20. The trade was a 6.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,510,546 shares of company stock valued at $43,235,262 in the last quarter. Insiders own 33.54% of the company’s stock.

C3.ai Price Performance

Shares of NYSE:AI opened at $21.81 on Friday. The stock has a market capitalization of $2.89 billion, a P/E ratio of -9.87 and a beta of 2.03. The business has a 50-day moving average of $27.55 and a two-hundred day moving average of $29.32. C3.ai, Inc. has a fifty-two week low of $18.85 and a fifty-two week high of $45.08.

C3.ai (NYSE:AI) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.62) earnings per share 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 during the quarter, compared to the consensus estimate of $98.12 million. As a group, research analysts expect that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AI. JPMorgan Chase & Co. downgraded C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price target on the stock. in a report on Wednesday, December 11th. Piper Sandler lowered their target price on C3.ai from $42.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. KeyCorp reduced their price target on shares of C3.ai from $29.00 to $21.00 and set an “underweight” rating for the company in a research report on Thursday, February 27th. Canaccord Genuity Group lowered their price objective on shares of C3.ai from $40.00 to $30.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Finally, DA Davidson cut their target price on shares of C3.ai from $40.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, C3.ai has an average rating of “Hold” and an average price target 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.