Level Four Advisory Services LLC Grows Stake in C3.ai, Inc. (NYSE:AI)

Level Four Advisory Services LLC boosted its position in shares of C3.ai, Inc. (NYSE:AI) by 6.7% during the fourth quarter, Holdings Channel reports. The firm owned 25,188 shares of the company’s stock after buying an additional 1,576 shares during the quarter. Level Four Advisory Services LLC’s holdings in C3.ai were worth $867,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Brown Lisle Cummings Inc. boosted its position in shares of C3.ai by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock worth $28,000 after buying an additional 400 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of C3.ai by 72.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,322 shares of the company’s stock valued at $46,000 after purchasing an additional 555 shares in the last quarter. Corient Private Wealth LLC grew its position in shares of C3.ai by 2.4% in the fourth quarter. Corient Private Wealth LLC now owns 23,371 shares of the company’s stock valued at $805,000 after purchasing an additional 555 shares during the last quarter. Arizona State Retirement System increased its stake in shares of C3.ai by 2.6% during the 4th quarter. Arizona State Retirement System now owns 32,265 shares of the company’s stock worth $1,111,000 after purchasing an additional 826 shares in the last quarter. Finally, R Squared Ltd acquired a new position in shares of C3.ai during the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 38.96% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on AI. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a report on Thursday, February 27th. JPMorgan Chase & Co. cut C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price objective for the company. in a research report on Wednesday, December 11th. Morgan Stanley reduced their target price on shares of C3.ai from $32.00 to $30.00 and set an “underweight” rating on the stock in a report on Thursday, February 27th. KeyCorp lowered their price target on shares of C3.ai from $29.00 to $21.00 and set an “underweight” rating for the company in a report on Thursday, February 27th. Finally, Northland Securities upped their price objective on shares of C3.ai from $35.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $31.33.

Insider Buying and Selling

In related news, VP Merel Witteveen sold 1,133 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $22.25, for a total transaction of $25,209.25. Following the completion of the sale, the vice president now directly owns 7,287 shares of the company’s stock, valued at approximately $162,135.75. This represents a 13.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas M. Siebel sold 216,974 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $21.88, for a total value of $4,747,391.12. Following the completion of the transaction, the chief executive officer now directly owns 726,177 shares in the company, valued at $15,888,752.76. This trade represents a 23.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,499,414 shares of company stock valued at $42,846,198. 33.54% of the stock is currently owned by corporate insiders.

C3.ai Stock Down 3.2 %

Shares of NYSE AI opened at $21.81 on Monday. The stock has a market capitalization of $2.89 billion, a PE ratio of -9.87 and a beta of 2.03. The firm has a fifty day moving average of $27.55 and a 200-day moving average of $29.43. C3.ai, Inc. has a 52-week low of $18.85 and a 52-week high of $45.08.

C3.ai (NYSE:AI) last posted its quarterly earnings results 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). The firm had revenue of $98.78 million for the quarter, compared to analysts’ expectations of $98.12 million. C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. Equities 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.