Transcendent Capital Group LLC Makes New $83,000 Investment in C3.ai, Inc. (NYSE:AI)

Transcendent Capital Group LLC purchased a new position in shares of C3.ai, Inc. (NYSE:AI) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 3,075 shares of the company’s stock, valued at approximately $83,000.

Several other institutional investors have also recently made changes to their positions in the stock. ICA Group Wealth Management LLC acquired a new position in shares of C3.ai during the 4th quarter worth approximately $29,000. Toth Financial Advisory Corp increased its holdings in shares of C3.ai by 900.0% during the 1st quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock worth $27,000 after acquiring an additional 900 shares during the last quarter. Pittenger & Anderson Inc. bought a new stake in C3.ai in the 4th quarter valued at $43,000. DekaBank Deutsche Girozentrale boosted its stake in C3.ai by 229.6% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 3,250 shares of the company’s stock valued at $98,000 after purchasing an additional 2,264 shares during the period. Finally, Atria Wealth Solutions Inc. bought a new stake in C3.ai in the 4th quarter valued at $202,000. Institutional investors and hedge funds own 38.96% of the company’s stock.

Insider Buying and Selling at C3.ai

In other C3.ai news, CFO Hitesh Lath sold 3,005 shares of the stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $27.56, for a total value of $82,817.80. Following the completion of the transaction, the chief financial officer now directly owns 7,390 shares in the company, valued at $203,668.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 34.00% of the company’s stock.

C3.ai Price Performance

Shares of AI stock traded down $0.32 on Monday, hitting $27.41. 1,895,727 shares of the company’s stock were exchanged, compared to its average volume of 6,273,856. C3.ai, Inc. has a 12 month low of $20.23 and a 12 month high of $44.90. The stock has a market cap of $3.42 billion, a P/E ratio of -11.71 and a beta of 1.83. The company has a 50 day moving average of $28.36 and a 200 day moving average of $27.09.

C3.ai (NYSE:AI) last announced its quarterly earnings data on Wednesday, May 29th. The company reported ($0.59) earnings per share for the quarter, topping the consensus estimate of ($0.77) by $0.18. C3.ai had a negative return on equity of 30.95% and a negative net margin of 93.36%. The business had revenue of $86.59 million during the quarter, compared to the consensus estimate of $84.45 million. Sell-side analysts predict that C3.ai, Inc. will post -2.35 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on AI. Northland Capmk upgraded C3.ai from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 30th. Piper Sandler reduced their price target on C3.ai from $33.00 to $29.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. Northland Securities upgraded C3.ai from a “market perform” rating to an “outperform” rating and set a $35.00 price target for the company in a research note on Thursday, May 30th. Wedbush reiterated an “outperform” rating and set a $40.00 target price on shares of C3.ai in a research report on Wednesday, May 29th. Finally, Canaccord Genuity Group cut their target price on C3.ai from $31.00 to $30.00 and set a “hold” rating for the company in a research report on Thursday, May 30th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $30.33.

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.