Inspire Investing LLC Acquires New Holdings in C3.ai, Inc. $AI

Inspire Investing LLC purchased a new stake in C3.ai, Inc. (NYSE:AI) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 61,176 shares of the company’s stock, valued at approximately $515,000.

Several other large investors have also recently modified their holdings of the business. Dimensional Fund Advisors LP raised its position in shares of C3.ai by 77.1% during the third quarter. Dimensional Fund Advisors LP now owns 1,804,188 shares of the company’s stock worth $31,284,000 after acquiring an additional 785,508 shares during the last quarter. Two Sigma Investments LP bought a new stake in C3.ai in the third quarter valued at approximately $13,379,000. Voloridge Investment Management LLC bought a new stake in C3.ai in the fourth quarter valued at approximately $9,183,000. Federated Hermes Inc. increased its position in C3.ai by 93,578.8% during the 4th quarter. Federated Hermes Inc. now owns 675,424 shares of the company’s stock valued at $9,105,000 after purchasing an additional 674,703 shares during the period. Finally, Marshall Wace LLP raised its holdings in C3.ai by 94.5% during the 4th quarter. Marshall Wace LLP now owns 1,015,709 shares of the company’s stock worth $13,692,000 after purchasing an additional 493,515 shares during the last quarter. Institutional investors own 38.96% of the company’s stock.

C3.ai Stock Performance

C3.ai stock opened at $9.07 on Friday. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of -2.71 and a beta of 2.06. C3.ai, Inc. has a 52-week low of $7.68 and a 52-week high of $30.11. The stock’s 50 day moving average price is $9.68 and its two-hundred day moving average price is $10.50.

C3.ai (NYSE:AI) last released its quarterly earnings data on Wednesday, June 3rd. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.05. C3.ai had a negative net margin of 187.95% and a negative return on equity of 62.44%. The company had revenue of $51.60 million during the quarter, compared to analyst estimates of $51.60 million. During the same quarter in the previous year, the business posted ($0.16) EPS. C3.ai’s revenue for the quarter was down 52.5% compared to the same quarter last year. On average, equities research analysts forecast that C3.ai, Inc. will post -2.28 EPS for the current year.

Insider Buying and Selling at C3.ai

In other news, CEO Stephen Bradley Ehikian sold 50,542 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $9.45, for a total transaction of $477,621.90. Following the transaction, the chief executive officer owned 651,130 shares in the company, valued at approximately $6,153,178.50. This represents a 7.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Hitesh Lath sold 48,619 shares of the stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $8.77, for a total transaction of $426,388.63. Following the transaction, the chief financial officer directly owned 383,106 shares in the company, valued at $3,359,839.62. This trade represents a 11.26% decrease in their position. The SEC filing for this sale provides additional information. 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. Over the last ninety days, insiders sold 1,646,611 shares of company stock valued at $15,534,492. Corporate insiders own 26.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AI. UBS Group boosted their price target on shares of 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 reiterated a “market perform” rating on shares of C3.ai in a research report on Thursday, June 4th. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research note on Thursday, June 4th. KeyCorp restated an “underweight” rating on shares of C3.ai in a report on Thursday, June 4th. Finally, Weiss Ratings cut shares of C3.ai from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, six have given a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $12.92.

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.