SG Americas Securities LLC Increases Stock Position in C3.ai, Inc. $AI

SG Americas Securities LLC grew its stake in C3.ai, Inc. (NYSE:AI) by 115.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 384,486 shares of the company’s stock after acquiring an additional 205,640 shares during the period. SG Americas Securities LLC owned about 0.27% of C3.ai worth $5,183,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in AI. AQR Capital Management LLC increased its holdings in C3.ai by 267.9% in the 1st quarter. AQR Capital Management LLC now owns 181,354 shares of the company’s stock valued at $3,788,000 after purchasing an additional 132,056 shares during the last quarter. NewEdge Advisors LLC boosted its position in shares of C3.ai by 48.7% during the first quarter. NewEdge Advisors LLC now owns 2,442 shares of the company’s stock worth $51,000 after buying an additional 800 shares during the period. Woodline Partners LP acquired a new stake in shares of C3.ai in the first quarter valued at $346,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of C3.ai by 4.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 242,784 shares of the company’s stock valued at $5,111,000 after buying an additional 10,675 shares during the period. Finally, Focus Partners Wealth lifted its stake in C3.ai by 2.6% during the 1st quarter. Focus Partners Wealth now owns 59,004 shares of the company’s stock worth $1,242,000 after acquiring an additional 1,503 shares in the last quarter. Hedge funds and other institutional investors own 38.96% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. KeyCorp dropped their target price on C3.ai from $10.00 to $6.00 and set an “underweight” rating for the company in a research report on Thursday, February 26th. Citizens Jmp cut shares of C3.ai from an “outperform” rating to a “market perform” rating in a report on Thursday, February 26th. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a report on Thursday, December 4th. BMO Capital Markets set a $7.00 price target on shares of C3.ai in a research report on Thursday, February 26th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of C3.ai in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, seven have given a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $15.87.

Insider Activity

In other C3.ai news, Director Jim H. Snabe bought 25,000 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were purchased at an average price of $9.00 per share, with a total value of $225,000.00. Following the completion of the acquisition, the director directly owned 395,000 shares of the company’s stock, valued at $3,555,000. This represents a 6.76% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Thomas M. Siebel sold 219,294 shares of C3.ai stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $8.67, for a total value of $1,901,278.98. Following the sale, the chairman directly owned 722,362 shares of the company’s stock, valued at $6,262,878.54. This trade represents a 23.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 1,601,692 shares of company stock worth $18,077,029. 26.50% of the stock is currently owned by corporate insiders.

C3.ai Stock Performance

Shares of C3.ai stock opened at $8.47 on Thursday. The business has a 50-day simple moving average of $9.94 and a 200-day simple moving average of $13.71. C3.ai, Inc. has a one year low of $7.68 and a one year high of $30.24. The company has a market cap of $1.23 billion, a PE ratio of -2.69 and a beta of 2.08.

C3.ai (NYSE:AI) last issued its earnings results on Wednesday, February 25th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.11). C3.ai had a negative net margin of 141.35% and a negative return on equity of 55.40%. The firm had revenue of $53.26 million during the quarter, compared to analyst estimates of $75.91 million. During the same period last year, the business earned ($0.12) EPS. The firm’s revenue was down 46.1% compared to the same quarter last year. On average, sell-side analysts predict that C3.ai, Inc. will post -2.44 earnings per share for the current fiscal year.

C3.ai Company Profile

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.