Qsemble Capital Management LP Buys Shares of 23,208 C3.ai, Inc. (NYSE:AI)

Qsemble Capital Management LP purchased a new position in shares of C3.ai, Inc. (NYSE:AI - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 23,208 shares of the company's stock, valued at approximately $672,000.

A number of other institutional investors also recently bought and sold shares of the business. Toth Financial Advisory Corp raised its position in C3.ai by 900.0% during the first 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. Unique Wealth Strategies LLC acquired a new position in C3.ai during the second quarter worth about $28,000. Blue Trust Inc. raised its position in C3.ai by 148.9% during the second quarter. Blue Trust Inc. now owns 1,028 shares of the company's stock worth $28,000 after acquiring an additional 615 shares during the last quarter. ICA Group Wealth Management LLC acquired a new position in C3.ai during the fourth quarter worth about $29,000. Finally, Hobbs Group Advisors LLC acquired a new position in C3.ai during the second quarter worth about $29,000. 38.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AI has been the subject of a number of research reports. Morgan Stanley cut their target price on shares of C3.ai from $23.00 to $21.00 and set an "underweight" rating for the company in a research report on Thursday, September 5th. Canaccord Genuity Group cut their price objective on shares of C3.ai from $30.00 to $23.00 and set a "hold" rating for the company in a research report on Thursday, September 5th. Northland Capmk raised shares of C3.ai from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 30th. Wedbush cut their price objective on shares of C3.ai from $40.00 to $30.00 and set an "outperform" rating for the company in a research report on Thursday, September 5th. Finally, DA Davidson cut their price objective on shares of C3.ai from $30.00 to $20.00 and set a "neutral" rating for the company in a research report on Thursday, September 5th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, C3.ai has an average rating of "Hold" and a consensus target price of $27.70.

C3.ai Price Performance

Shares of AI traded up $0.13 during mid-day trading on Friday, hitting $23.00. The company's stock had a trading volume of 4,337,404 shares, compared to its average volume of 5,922,137. The firm has a 50-day moving average price of $25.49 and a 200 day moving average price of $26.44. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of -9.83 and a beta of 1.81. C3.ai, Inc. has a fifty-two week low of $18.85 and a fifty-two week high of $38.30.

C3.ai (NYSE:AI - Get Free Report) last released its earnings results on Wednesday, September 4th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.08. The business had revenue of $87.21 million for the quarter, compared to the consensus estimate of $86.94 million. C3.ai had a negative net margin of 85.47% and a negative return on equity of 31.28%. The firm's quarterly revenue was up 20.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.56) earnings per share. As a group, equities analysts anticipate that C3.ai, Inc. will post -2.32 EPS for the current fiscal year.

Insider Transactions at C3.ai

In related news, CFO Hitesh Lath sold 3,005 shares of the business's stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $27.56, for a total transaction of $82,817.80. Following the transaction, the chief financial officer now owns 7,390 shares of the company's stock, valued at $203,668.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 34.00% of the stock is owned by corporate insiders.

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.