Virtu Financial LLC Takes $2.13 Million Position in C3.ai, Inc. (NYSE:AI)

Virtu Financial LLC bought a new stake in C3.ai, Inc. (NYSE:AI) in the 4th quarter, Holdings Channel.com reports. The firm bought 61,806 shares of the company’s stock, valued at approximately $2,128,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brown Lisle Cummings Inc. raised its stake in C3.ai by 100.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock valued at $28,000 after acquiring an additional 400 shares during the last quarter. R Squared Ltd purchased a new stake in C3.ai during the 4th quarter valued at approximately $29,000. CENTRAL TRUST Co purchased a new stake in C3.ai during the 4th quarter valued at approximately $34,000. Harvest Fund Management Co. Ltd purchased a new stake in C3.ai during the 4th quarter valued at 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 acquiring an additional 1,014 shares during the last quarter. 38.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at C3.ai

In other C3.ai news, VP Merel Witteveen sold 11,132 shares of the stock in a transaction 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 transaction, the vice president now owns 4,142 shares of the company’s stock, valued at $144,762.90. This represents a 72.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Richard C. Levin sold 12,000 shares of the stock in a transaction on 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 directly owns 161,664 shares in the company, valued at approximately $5,625,907.20. This represents a 6.91 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,510,546 shares of company stock worth $43,235,262. 33.54% of the stock is owned by insiders.

Analysts Set New Price Targets

AI has been the subject of a number of analyst reports. Canaccord Genuity Group cut their target price on C3.ai from $40.00 to $30.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. KeyCorp cut their target price on C3.ai from $29.00 to $21.00 and set an “underweight” rating for the company in a research note on Thursday, February 27th. Piper Sandler cut their target price on C3.ai from $42.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. StockNews.com raised C3.ai to a “sell” rating in a research note on Tuesday, November 26th. Finally, JPMorgan Chase & Co. downgraded C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 target price for the company. in a research note on Wednesday, December 11th. Five research analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $31.33.

C3.ai Price Performance

AI opened at $22.65 on Friday. The stock has a market cap of $3.01 billion, a P/E ratio of -10.25 and a beta of 2.03. The stock’s 50 day simple moving average is $28.42 and its 200 day simple moving average is $29.33. C3.ai, Inc. has a 1-year low of $18.85 and a 1-year high of $45.08.

C3.ai (NYSE:AI) last announced its earnings results on Wednesday, February 26th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.37). The company had revenue of $98.78 million for the quarter, compared to analyst estimates of $98.12 million. C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. Research analysts expect that C3.ai, Inc. will post -2.44 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.