Hobbs Group Advisors LLC Purchases Shares of 1,000 C3.ai, Inc. (NYSE:AI)

Hobbs Group Advisors LLC purchased a new stake in C3.ai, Inc. (NYSE:AI) during the second quarter, according to its most recent filing with the SEC. The fund purchased 1,000 shares of the company’s stock, valued at approximately $29,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of AI. Nisa Investment Advisors LLC boosted its stake in shares of C3.ai by 10.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 22,335 shares of the company’s stock worth $647,000 after purchasing an additional 2,187 shares during the period. Western Wealth Management LLC purchased a new position in shares of C3.ai during the 2nd quarter worth about $289,000. Willner & Heller LLC purchased a new position in shares of C3.ai during the 2nd quarter worth about $313,000. Raymond James & Associates boosted its stake in shares of C3.ai by 11.5% during the 2nd quarter. Raymond James & Associates now owns 201,262 shares of the company’s stock worth $5,829,000 after purchasing an additional 20,753 shares during the period. Finally, Blue Trust Inc. boosted its stake in shares of C3.ai by 148.9% during the 2nd quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock worth $28,000 after purchasing an additional 615 shares during the period. 38.96% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Hitesh Lath sold 3,005 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $27.56, for a total value of $82,817.80. Following the completion of the sale, the chief financial officer now directly owns 7,390 shares in the company, valued at $203,668.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 34.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on AI. Northland Securities raised shares of C3.ai from a “market perform” rating to an “outperform” rating and set a $35.00 price objective for the company in a research report on Thursday, May 30th. Morgan Stanley boosted their price objective on shares of C3.ai from $21.00 to $23.00 and gave the stock an “underweight” rating in a research note on Thursday, May 30th. Northland Capmk upgraded shares of C3.ai from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 30th. Wedbush restated an “outperform” rating and set a $40.00 price target on shares of C3.ai in a research note on Wednesday, May 29th. Finally, Needham & Company LLC restated a “hold” rating on shares of C3.ai in a research note on Thursday, May 30th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $30.33.

C3.ai Stock Performance

NYSE AI traded up $0.04 during mid-day trading on Wednesday, reaching $24.63. 836,570 shares of the stock were exchanged, compared to its average volume of 5,878,597. The business’s 50 day moving average is $27.56 and its 200-day moving average is $27.05. C3.ai, Inc. has a 1 year low of $20.23 and a 1 year high of $38.30. The company has a market capitalization of $3.07 billion, a P/E ratio of -10.51 and a beta of 1.83.

C3.ai (NYSE:AI) last posted its quarterly earnings data on Wednesday, May 29th. The company reported ($0.59) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.77) by $0.18. The business had revenue of $86.59 million for the quarter, compared to the consensus estimate of $84.45 million. C3.ai had a negative net margin of 93.36% and a negative return on equity of 30.95%. Equities analysts predict that C3.ai, Inc. will post -2.35 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.