Recent filings with the Securities and Exchange Commission reveal a significant shift in the institutional landscape surrounding C3.ai, Inc. (NYSE:AI), highlighting increased confidence from major investment firms.
Specifically, Bayforest Capital Ltd has dramatically expanded its stake in C3.ai stock, raising its holdings by an impressive 870.9% in the first quarter. This substantial acquisition saw the firm adding 7,812 shares, bringing their total ownership to 8,709 shares, valued at $183,000 as of the most recent quarter’s end.
This aggressive accumulation by Bayforest Capital is not an isolated incident; other institutional investors are also making significant moves into C3.ai. Zweig DiMenna Associates LLC, Susquehanna Fundamental Investments LLC, and GAMMA Investing LLC are among those who have either initiated new positions or substantially increased their holdings, underscoring a broader trend of institutional investments in the AI software sector.
Conversely, some firms like Geode Capital Management LLC and McGuire Investment Group LLC have also adjusted their positions, lifting their stake in C3.ai, contributing to the dynamic flow of institutional investments. Collectively, a substantial 38.96% of C3.ai stock is currently held by institutional investors and hedge funds, reflecting strong market interest.
Adding another layer to the company’s financial narrative, recent insider transactions have also caught attention. C3.ai’s CEO, Thomas M. Siebel, executed a notable sale of 589,468 shares, totaling over $16.8 million, reducing his ownership by 15.44%. Similarly, Director John E. Hyten also sold 10,000 shares, bringing the total insider sales over the last three months to over $50 million.
From a market perspective, C3.ai stock opened at $22.42, maintaining a market capitalization of $3.01 billion, with a PE ratio of -10.01. The company’s financial health is further detailed by its fifty-day moving average of $25.46 and a 200-day moving average of $25.16, indicating recent market fluctuations. The stock has seen a one-year low of $17.03 and a one-year high of $45.08, reflecting its volatility and potential.
C3.ai’s latest quarterly earnings report showed promising results, with the company reporting a narrower-than-expected loss of ($0.16) EPS, surpassing the consensus estimate. Revenue for the quarter stood at $108.72 million, a 25.5% increase year-over-year, outpacing analyst predictions. Despite a negative net margin and return on equity, analysts project an improved EPS for the current fiscal year.
At its core, C3.ai operates as a leading enterprise AI software company, offering a suite of innovative solutions globally. Their offerings include the C3 AI platform for application development, C3 AI Ex Machina for data analysis, C3 AI CRM for industry-specific customer relationship management, and the new C3 Generative AI Product Suite, all designed to empower businesses with advanced artificial intelligence capabilities.
