Murphy & Mullick Capital Management Corp Acquires Shares of 1,459 C3.ai, Inc. (NYSE:AI)

Murphy & Mullick Capital Management Corp purchased a new position in shares of C3.ai, Inc. (NYSE:AI) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,459 shares of the company’s stock, valued at approximately $50,000.

Several other institutional investors have also recently added to or reduced their stakes in AI. Victory Capital Management Inc. increased its stake in C3.ai by 3.4% in the 3rd quarter. Victory Capital Management Inc. now owns 14,078 shares of the company’s stock valued at $341,000 after buying an additional 457 shares during the period. Quest Partners LLC raised its holdings in C3.ai by 9,033.3% during the third quarter. Quest Partners LLC now owns 1,644 shares of the company’s stock worth $40,000 after purchasing an additional 1,626 shares in the last quarter. Intech Investment Management LLC acquired a new stake in C3.ai in the third quarter valued at about $859,000. Charles Schwab Investment Management Inc. boosted its holdings in C3.ai by 12.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 844,389 shares of the company’s stock valued at $20,460,000 after purchasing an additional 92,280 shares in the last quarter. Finally, Cerity Partners LLC increased its position in C3.ai by 45.2% during the 3rd quarter. Cerity Partners LLC now owns 24,133 shares of the company’s stock worth $585,000 after purchasing an additional 7,511 shares during the period. Institutional investors and hedge funds own 38.96% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on AI. Piper Sandler decreased their price target on C3.ai from $42.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Canaccord Genuity Group decreased their target price on shares of C3.ai from $40.00 to $30.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a report on Thursday, February 27th. DA Davidson decreased their price objective on shares of C3.ai from $40.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Finally, KeyCorp reduced their price objective on C3.ai from $29.00 to $21.00 and set an “underweight” rating for the company in a report on Thursday, February 27th. Five research analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, C3.ai has a consensus rating of “Hold” and a consensus target price of $31.33.

Insider Transactions at C3.ai

In other C3.ai news, VP Merel Witteveen sold 11,132 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $34.95, for a total transaction of $389,063.40. Following the transaction, the vice president now owns 4,142 shares in the company, valued at $144,762.90. The trade was a 72.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Thomas M. Siebel sold 216,974 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $21.88, for a total value of $4,747,391.12. Following the completion of the sale, the chief executive officer now owns 726,177 shares of the company’s stock, valued at approximately $15,888,752.76. This trade represents a 23.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,510,546 shares of company stock worth $43,235,262 in the last three months. 33.54% of the stock is currently owned by company insiders.

C3.ai Stock Performance

Shares of AI opened at $22.53 on Friday. C3.ai, Inc. has a fifty-two week low of $18.85 and a fifty-two week high of $45.08. The stock has a fifty day moving average of $27.76 and a two-hundred day moving average of $29.31. The company has a market capitalization of $2.99 billion, a PE ratio of -10.19 and a beta of 2.03.

C3.ai (NYSE:AI) last released its earnings results on Wednesday, February 26th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.37). C3.ai had a negative return on equity of 31.31% and a negative net margin of 79.17%. The company had revenue of $98.78 million during the quarter, compared to analyst estimates of $98.12 million. As a group, equities research analysts forecast that C3.ai, Inc. will post -2.44 earnings per share for the current fiscal year.

About C3.ai

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.