Level Four Advisory Services LLC Raises Stock Holdings in C3.ai, Inc. (NYSE:AI)

Level Four Advisory Services LLC raised its position in C3.ai, Inc. (NYSE:AI) by 6.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,188 shares of the company’s stock after purchasing an additional 1,576 shares during the quarter. Level Four Advisory Services LLC’s holdings in C3.ai were worth $867,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Brown Lisle Cummings Inc. raised its holdings in shares of C3.ai by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company’s stock valued at $28,000 after buying an additional 400 shares during the period. Geneos Wealth Management Inc. boosted its holdings in C3.ai by 72.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,322 shares of the company’s stock valued at $46,000 after purchasing an additional 555 shares during the period. Corient Private Wealth LLC grew its stake in C3.ai by 2.4% during the 4th quarter. Corient Private Wealth LLC now owns 23,371 shares of the company’s stock worth $805,000 after purchasing an additional 555 shares in the last quarter. Arizona State Retirement System increased its holdings in C3.ai by 2.6% during the 4th quarter. Arizona State Retirement System now owns 32,265 shares of the company’s stock worth $1,111,000 after purchasing an additional 826 shares during the period. Finally, R Squared Ltd acquired a new stake in C3.ai in the 4th quarter valued at about $29,000. 38.96% of the stock is currently owned by institutional investors and hedge funds.

C3.ai Price Performance

Shares of NYSE:AI opened at $21.81 on Monday. The stock has a market cap of $2.89 billion, a P/E ratio of -9.87 and a beta of 2.03. C3.ai, Inc. has a 1-year low of $18.85 and a 1-year high of $45.08. The firm has a fifty day moving average price of $27.55 and a 200 day moving average price of $29.43.

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

Insider Transactions at C3.ai

In other news, Director Richard C. Levin sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $34.80, for a total value of $417,600.00. Following the completion of the sale, the director now directly owns 161,664 shares of the company’s stock, valued at $5,625,907.20. This trade represents a 6.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas M. Siebel sold 409,831 shares of the company’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $30.97, for a total value of $12,692,466.07. Following the transaction, the chief executive officer now directly owns 1,756,390 shares in the company, valued at $54,395,398.30. This represents a 18.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,499,414 shares of company stock worth $42,846,198 over the last 90 days. 33.54% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

AI has been the topic of a number of recent research reports. Northland Securities upped their target price on shares of C3.ai from $35.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. JMP Securities increased their price objective on shares of C3.ai from $40.00 to $55.00 and gave the company a “market outperform” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. cut shares of C3.ai from a “neutral” rating to an “underweight” rating and set a $28.00 price objective for the company. in a research report on Wednesday, December 11th. Morgan Stanley dropped their target price on C3.ai from $32.00 to $30.00 and set an “underweight” rating on the stock in a report on Thursday, February 27th. Finally, Canaccord Genuity Group lowered their price objective on C3.ai from $40.00 to $30.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Five analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $31.33.

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.