Virtu Financial LLC Invests $2.13 Million in C3.ai, Inc. (NYSE:AI)

Virtu Financial LLC purchased a new stake in shares of C3.ai, Inc. (NYSE:AI - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 61,806 shares of the company's stock, valued at approximately $2,128,000.

Several other institutional investors have also recently bought and sold shares of the business. Brown Lisle Cummings Inc. raised its position in C3.ai by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 800 shares of the company's stock worth $28,000 after purchasing an additional 400 shares during the last quarter. R Squared Ltd bought a new stake in shares of C3.ai during the fourth quarter worth $29,000. CENTRAL TRUST Co acquired a new position in shares of C3.ai during the fourth quarter valued at $34,000. Harvest Fund Management Co. Ltd bought a new position in C3.ai in the fourth quarter valued at about $36,000. Finally, Global Retirement Partners LLC increased its position in C3.ai by 1,004.0% in the fourth quarter. Global Retirement Partners LLC now owns 1,115 shares of the company's stock worth $38,000 after purchasing an additional 1,014 shares during the period. Institutional investors own 38.96% of the company's stock.

C3.ai Price Performance

Shares of AI traded down $0.50 during midday trading on Thursday, hitting $22.53. The stock had a trading volume of 2,100,505 shares, compared to its average volume of 5,205,194. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of -10.19 and a beta of 2.03. C3.ai, Inc. has a twelve month low of $18.85 and a twelve month high of $45.08. The company has a 50 day simple moving average of $27.95 and a two-hundred day simple moving average of $29.36.

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C3.ai (NYSE:AI - Get Free Report) last released its 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). C3.ai had a negative net margin of 79.17% and a negative return on equity of 31.31%. The business had revenue of $98.78 million during the quarter, compared to the consensus estimate of $98.12 million. Analysts forecast that C3.ai, Inc. will post -2.44 EPS for the current fiscal year.

Insider Buying and Selling at C3.ai

In other news, VP Merel Witteveen sold 1,133 shares of the company's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $22.25, for a total value of $25,209.25. Following the sale, the vice president now directly owns 7,287 shares of the company's stock, valued at approximately $162,135.75. This represents a 13.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard C. Levin sold 12,000 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The shares were 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 approximately $5,625,907.20. The trade was a 6.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,510,546 shares of company stock worth $43,235,262 over the last ninety days. 33.54% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on AI shares. DA Davidson reduced their target price on shares of C3.ai from $40.00 to $25.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. JPMorgan Chase & Co. cut shares of C3.ai from a "neutral" rating to an "underweight" rating and set a $28.00 target price for the company. in a research report on Wednesday, December 11th. Morgan Stanley cut their price target on 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 lifted their price objective on C3.ai from $35.00 to $45.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 10th. Finally, Piper Sandler cut their target price 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. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target 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.