Jim Snabe Buys 25,000 Shares of C3.ai (NYSE:AI) Stock

C3.ai, Inc. (NYSE:AI) Director Jim Snabe bought 25,000 shares of the business’s stock in a transaction on Monday, March 9th. The stock was bought at an average cost of $9.00 per share, for a total transaction of $225,000.00. Following the purchase, the director directly owned 395,000 shares of the company’s stock, valued at approximately $3,555,000. This trade represents a 6.76% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

C3.ai Stock Down 3.4%

C3.ai stock traded down $0.32 during midday trading on Tuesday, hitting $8.95. 4,378,627 shares of the stock were exchanged, compared to its average volume of 7,700,350. The company has a fifty day simple moving average of $11.54 and a two-hundred day simple moving average of $14.59. C3.ai, Inc. has a 52 week low of $7.72 and a 52 week high of $30.24.

C3.ai (NYSE:AI) last released its quarterly earnings data on Wednesday, February 25th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.11). C3.ai had a negative net margin of 141.35% and a negative return on equity of 53.96%. The firm had revenue of $53.26 million during the quarter, compared to the consensus estimate of $75.91 million. During the same quarter in the prior year, the company earned ($0.12) EPS. C3.ai’s quarterly revenue was down 46.1% on a year-over-year basis. As a group, sell-side analysts anticipate that C3.ai, Inc. will post -2.44 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. DA Davidson cut their price target on shares of C3.ai from $13.00 to $7.00 and set an “underperform” rating on the stock in a research note on Thursday, February 26th. JPMorgan Chase & Co. dropped their price target on C3.ai from $10.00 to $7.00 and set an “underweight” rating on the stock in a research note on Thursday, February 26th. Citizens Jmp downgraded C3.ai from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 26th. Canaccord Genuity Group reduced their target price on shares of C3.ai from $16.00 to $7.00 and set a “hold” rating for the company in a report on Thursday, February 26th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of C3.ai in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, seven have issued a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $15.87.

Institutional Investors Weigh In On C3.ai

A number of institutional investors and hedge funds have recently made changes to their positions in AI. Vanguard Group Inc. increased its holdings in C3.ai by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 14,469,953 shares of the company’s stock worth $195,055,000 after buying an additional 108,011 shares during the last quarter. Morgan Stanley lifted its stake in C3.ai by 1.9% in the 4th quarter. Morgan Stanley now owns 4,824,499 shares of the company’s stock valued at $65,034,000 after purchasing an additional 91,802 shares during the last quarter. State Street Corp grew its holdings in C3.ai by 3.3% during the fourth quarter. State Street Corp now owns 2,976,389 shares of the company’s stock worth $40,122,000 after purchasing an additional 94,086 shares during the period. Geode Capital Management LLC increased its position in C3.ai by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 2,868,578 shares of the company’s stock worth $38,675,000 after buying an additional 21,451 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in C3.ai by 9.6% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,425,976 shares of the company’s stock worth $42,066,000 after buying an additional 211,786 shares during the last quarter. Institutional investors own 38.96% of the company’s stock.

About C3.ai

C3.ai, Inc is a leading enterprise software provider focused on delivering scalable artificial intelligence (AI) and Internet of Things (IoT) solutions to large organizations. The company’s core offering, the C3 AI Suite, is a comprehensive, model-driven platform that unifies data ingestion, model development, and application deployment. Through its suite of tools, C3.ai enables customers to accelerate digital transformation initiatives by applying advanced machine learning, predictive analytics, and AI-driven insights across a broad range of business functions.

The C3 AI Suite provides a low-code environment for data scientists and application developers to rapidly design, test, and deploy enterprise-scale AI applications.