Cane Capital Partners LLC Has $133,000 Position in C3.ai, Inc. $AI

Cane Capital Partners LLC decreased its position in C3.ai, Inc. (NYSE:AI) by 82.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,825 shares of the company’s stock after selling 71,966 shares during the quarter. Cane Capital Partners LLC’s holdings in C3.ai were worth $133,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Larson Financial Group LLC boosted its stake in C3.ai by 683.6% during the 3rd quarter. Larson Financial Group LLC now owns 1,481 shares of the company’s stock valued at $26,000 after purchasing an additional 1,292 shares during the period. Parallel Advisors LLC grew its position in C3.ai by 76.4% in the 3rd quarter. Parallel Advisors LLC now owns 1,849 shares of the company’s stock worth $32,000 after purchasing an additional 801 shares during the last quarter. Farther Finance Advisors LLC grew its position in C3.ai by 66.1% in the 4th quarter. Farther Finance Advisors LLC now owns 2,141 shares of the company’s stock worth $29,000 after purchasing an additional 852 shares during the last quarter. Comerica Bank grew its position in C3.ai by 839.1% in the 4th quarter. Comerica Bank now owns 2,423 shares of the company’s stock worth $33,000 after purchasing an additional 2,165 shares during the last quarter. Finally, NewEdge Advisors LLC increased its holdings in shares of C3.ai by 48.7% during the 1st quarter. NewEdge Advisors LLC now owns 2,442 shares of the company’s stock worth $51,000 after purchasing an additional 800 shares during the period. 38.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Hitesh Lath sold 48,619 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $8.77, for a total transaction of $426,388.63. Following the sale, the chief financial officer directly owned 383,106 shares in the company, valued at $3,359,839.62. This represents a 11.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Thomas M. Siebel sold 472,005 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $11.11, for a total value of $5,243,975.55. Following the completion of the sale, the chief executive officer owned 722,362 shares of the company’s stock, valued at approximately $8,025,441.82. This trade represents a 39.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 1,596,069 shares of company stock worth $15,056,870 over the last ninety days. Insiders own 26.50% of the company’s stock.

Analysts Set New Price Targets

AI has been the topic of several research reports. KeyCorp restated an “underweight” rating on shares of C3.ai in a research note on Thursday, June 4th. UBS Group raised their price objective on C3.ai from $9.00 to $12.00 and gave the stock a “neutral” rating in a research report on Thursday, June 4th. Citizens Jmp reissued a “market perform” rating on shares of C3.ai in a report on Thursday, June 4th. DA Davidson restated an “underperform” rating and set a $7.00 price objective on shares of C3.ai in a research report on Thursday, June 4th. Finally, Canaccord Genuity Group upped their target price on C3.ai from $8.00 to $10.00 and gave the company a “hold” rating in a research note on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, six have assigned a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat.com, C3.ai has an average rating of “Reduce” and a consensus price target of $12.92.

C3.ai Trading Up 3.8%

Shares of AI opened at $9.44 on Thursday. C3.ai, Inc. has a 1 year low of $7.68 and a 1 year high of $30.11. The stock has a 50 day simple moving average of $9.69 and a 200-day simple moving average of $10.55. The stock has a market cap of $1.37 billion, a PE ratio of -2.82 and a beta of 2.06.

C3.ai (NYSE:AI) last posted its earnings results on Wednesday, June 3rd. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.05. C3.ai had a negative return on equity of 62.44% and a negative net margin of 187.95%.The business had revenue of $51.60 million during the quarter, compared to the consensus estimate of $51.60 million. During the same quarter last year, the company earned ($0.16) EPS. C3.ai’s revenue was down 52.5% on a year-over-year basis. On average, sell-side analysts forecast that C3.ai, Inc. will post -2.28 EPS for the current fiscal year.

C3.ai 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.