3,075 Shares in C3.ai, Inc. (NYSE:AI) Purchased by Transcendent Capital Group LLC

Transcendent Capital Group LLC acquired a new stake in C3.ai, Inc. (NYSE:AI) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,075 shares of the company’s stock, valued at approximately $83,000.

A number of other hedge funds also recently bought and sold shares of the business. Toth Financial Advisory Corp increased its holdings in shares of C3.ai by 900.0% during the 1st quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock worth $27,000 after buying an additional 900 shares during the last quarter. ICA Group Wealth Management LLC acquired a new stake in shares of C3.ai during the 4th quarter worth approximately $29,000. Pittenger & Anderson Inc. purchased a new position in shares of C3.ai during the 4th quarter worth approximately $43,000. DekaBank Deutsche Girozentrale lifted its holdings in C3.ai by 229.6% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 3,250 shares of the company’s stock worth $98,000 after buying an additional 2,264 shares during the last quarter. Finally, Atria Wealth Solutions Inc. purchased a new stake in C3.ai during the 4th quarter worth about $202,000. Institutional investors and hedge funds own 38.96% of the company’s stock.

Insider Transactions at C3.ai

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

C3.ai Price Performance

NYSE AI traded down $0.32 on Monday, hitting $27.41. 1,895,727 shares of the company’s stock were exchanged, compared to its average volume of 6,273,856. The firm’s 50-day moving average price is $28.36 and its two-hundred day moving average price is $27.09. C3.ai, Inc. has a fifty-two week low of $20.23 and a fifty-two week high of $44.90. The firm has a market cap of $3.42 billion, a price-to-earnings ratio of -11.71 and a beta of 1.83.

C3.ai (NYSE:AI) last announced its quarterly earnings results on Wednesday, May 29th. The company reported ($0.59) EPS for the quarter, topping the consensus estimate of ($0.77) by $0.18. The business had revenue of $86.59 million for the quarter, compared to analyst estimates of $84.45 million. C3.ai had a negative return on equity of 30.95% and a negative net margin of 93.36%. On average, research analysts predict that C3.ai, Inc. will post -2.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a report on Thursday, May 30th. Morgan Stanley lifted their target price on C3.ai from $21.00 to $23.00 and gave the stock an “underweight” rating in a research report on Thursday, May 30th. Canaccord Genuity Group cut their target price on C3.ai from $31.00 to $30.00 and set a “hold” rating on the stock in a research report on Thursday, May 30th. Wedbush reiterated an “outperform” rating and set a $40.00 target price on shares of C3.ai in a research report on Wednesday, May 29th. Finally, Northland Securities upgraded C3.ai from a “market perform” rating to an “outperform” rating and set a $35.00 target price on the stock in a research report on Thursday, May 30th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, C3.ai currently has an average rating of “Hold” and a consensus price target of $30.33.

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.