Moors & Cabot Inc. Acquires 6,450 Shares of C3.ai, Inc. (NYSE:AI)

Moors & Cabot Inc. grew its holdings in shares of C3.ai, Inc. (NYSE:AI) by 51.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,913 shares of the company’s stock after buying an additional 6,450 shares during the quarter. Moors & Cabot Inc.’s holdings in C3.ai were worth $548,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Victory Capital Management Inc. lifted its position in C3.ai by 26.1% in the fourth quarter. Victory Capital Management Inc. now owns 13,637 shares of the company’s stock worth $392,000 after buying an additional 2,820 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of C3.ai by 10.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 706,677 shares of the company’s stock valued at $20,289,000 after acquiring an additional 66,701 shares during the period. Avantax Advisory Services Inc. lifted its holdings in shares of C3.ai by 13.4% in the 4th quarter. Avantax Advisory Services Inc. now owns 11,859 shares of the company’s stock worth $340,000 after acquiring an additional 1,401 shares during the last quarter. Beacon Pointe Advisors LLC purchased a new position in shares of C3.ai during the 4th quarter worth about $438,000. Finally, Norges Bank bought a new position in C3.ai during the 4th quarter valued at about $10,879,000. Institutional investors own 38.96% of the company’s stock.

Analyst Upgrades and Downgrades

AI has been the subject of a number of research analyst reports. Northland Securities raised C3.ai from a “market perform” rating to an “outperform” rating and set a $35.00 price target for the company in a research note on Thursday, May 30th. Piper Sandler Companies reissued a “neutral” rating and set a $24.00 target price on shares of C3.ai in a research note on Thursday, September 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research note on Thursday, September 5th. Morgan Stanley decreased their price objective on shares of C3.ai from $23.00 to $21.00 and set an “underweight” rating for the company in a report on Thursday, September 5th. Finally, Northland Capmk upgraded shares of C3.ai from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 30th. Three 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $27.70.

C3.ai Stock Performance

NYSE AI opened at $23.73 on Friday. C3.ai, Inc. has a one year low of $18.85 and a one year high of $38.30. The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of -10.14 and a beta of 1.81. The company’s 50-day simple moving average is $24.98 and its two-hundred day simple moving average is $26.20.

C3.ai (NYSE:AI) last issued its quarterly earnings data on Wednesday, September 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.08. The company had revenue of $87.21 million for the quarter, compared to analyst estimates of $86.94 million. C3.ai had a negative net margin of 85.47% and a negative return on equity of 31.28%. C3.ai’s revenue was up 20.5% compared to the same quarter last year. During the same period last year, the company posted ($0.56) earnings per share. Equities analysts expect that C3.ai, Inc. will post -2.32 earnings per share for the current fiscal year.

Insider Transactions at C3.ai

In related news, CFO Hitesh Lath sold 3,005 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $27.56, for a total transaction of $82,817.80. Following the sale, 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 filing with the SEC, which is available through the SEC website. Corporate insiders own 34.00% of the company’s stock.

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.