HM Payson & Co. Buys 893 Shares of C3.ai, Inc. (NYSE:AI)

HM Payson & Co. raised its stake in C3.ai, Inc. (NYSE:AI) by 152.9% during the 4th quarter, Holdings Channel reports. The fund owned 1,477 shares of the company’s stock after acquiring an additional 893 shares during the period. HM Payson & Co.’s holdings in C3.ai were worth $51,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in shares of C3.ai by 12.3% in the third 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 during the last quarter. SBI Securities Co. Ltd. bought a new stake in C3.ai in the 4th quarter valued at $3,996,000. PDT Partners LLC acquired a new position in C3.ai in the 3rd quarter valued at $1,624,000. Janney Montgomery Scott LLC increased its position in C3.ai by 70.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 55,339 shares of the company’s stock worth $1,905,000 after buying an additional 22,949 shares during the period. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of C3.ai during the fourth quarter worth $2,015,000. 38.96% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Thomas M. Siebel sold 552,422 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $33.04, for a total transaction of $18,252,022.88. Following the sale, the chief executive officer now owns 1,336,968 shares of the company’s stock, valued at $44,173,422.72. This trade represents a 29.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jim H. Snabe sold 499,700 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $43.05, for a total value of $21,512,085.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $430,500. The trade was a 98.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,506,972 shares of company stock valued at $54,010,382. 33.54% of the stock is currently owned by insiders.

C3.ai Stock Up 4.9 %

NYSE:AI opened at $22.56 on Monday. C3.ai, Inc. has a twelve month low of $18.85 and a twelve month high of $45.08. The stock’s 50-day simple moving average is $31.01 and its 200 day simple moving average is $29.50. The firm has a market capitalization of $2.91 billion, a PE ratio of -10.21 and a beta of 2.03.

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

Analyst Ratings Changes

Several research firms recently commented on AI. Morgan Stanley decreased their price target on shares of C3.ai from $32.00 to $30.00 and set an “underweight” rating on the stock in a research note on Thursday, February 27th. Northland Securities increased their target price on shares of C3.ai from $35.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. DA Davidson dropped their price target on shares of C3.ai from $40.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Piper Sandler reduced their price target on C3.ai from $42.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Finally, StockNews.com raised C3.ai to a “sell” rating in a report on Tuesday, November 26th. Five analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $31.33.

C3.ai Company 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.