GSA Capital Partners LLP Invests $1.06 Million in C3.ai, Inc. (NYSE:AI)

GSA Capital Partners LLP acquired a new position in shares of C3.ai, Inc. (NYSE:AI) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 38,984 shares of the company’s stock, valued at approximately $1,055,000.

A number of other large investors also recently modified their holdings of AI. Global Assets Advisory LLC raised its holdings in shares of C3.ai by 2,547.8% in the 1st quarter. Global Assets Advisory LLC now owns 896,676 shares of the company’s stock valued at $24,273,000 after purchasing an additional 862,811 shares during the period. Vanguard Group Inc. raised its holdings in shares of C3.ai by 6.7% in the 3rd quarter. Vanguard Group Inc. now owns 10,477,374 shares of the company’s stock valued at $267,383,000 after purchasing an additional 659,986 shares during the period. Coatue Management LLC raised its holdings in shares of C3.ai by 25.1% in the 4th quarter. Coatue Management LLC now owns 2,832,229 shares of the company’s stock valued at $81,313,000 after purchasing an additional 568,369 shares during the period. Norges Bank bought a new stake in shares of C3.ai in the 4th quarter valued at about $10,879,000. Finally, Citigroup Inc. raised its holdings in shares of C3.ai by 201.2% in the 3rd quarter. Citigroup Inc. now owns 166,303 shares of the company’s stock valued at $4,244,000 after purchasing an additional 111,095 shares during the period. 38.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on AI. Wedbush reissued an “outperform” rating and issued a $40.00 price target on shares of C3.ai in a report on Wednesday, May 29th. Piper Sandler lowered their price target on shares of C3.ai from $33.00 to $29.00 and set a “neutral” rating on the stock in a 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 report on Thursday, May 30th. Morgan Stanley increased their target price on shares of C3.ai from $21.00 to $23.00 and gave the stock an “underweight” rating in a research report on Thursday, May 30th. Finally, Canaccord Genuity Group decreased their target price 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. Three 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 data from MarketBeat.com, C3.ai presently has an average rating of “Hold” and a consensus target price of $31.30.

Insider Buying and Selling at C3.ai

In other C3.ai news, CFO Hitesh Lath sold 3,005 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $27.56, for a total value of $82,817.80. Following the sale, the chief financial officer now owns 7,390 shares in the company, valued at $203,668.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 34.00% of the company’s stock.

C3.ai Stock Performance

Shares of NYSE AI traded up $0.19 during trading hours on Wednesday, hitting $29.63. 1,479,335 shares of the stock were exchanged, compared to its average volume of 6,557,652. The company has a market cap of $3.70 billion, a PE ratio of -12.68 and a beta of 1.83. The company’s fifty day simple moving average is $27.33 and its two-hundred day simple moving average is $27.08. C3.ai, Inc. has a 1-year low of $20.23 and a 1-year high of $44.90.

C3.ai (NYSE:AI) last issued its earnings results on Wednesday, May 29th. The company reported ($0.59) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.18. C3.ai had a negative net margin of 93.36% and a negative return on equity of 30.95%. The firm had revenue of $86.59 million for the quarter, compared to analyst estimates of $84.45 million. As a group, sell-side analysts expect that C3.ai, Inc. will post -2.35 EPS for the current fiscal year.

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.