19,317 Shares in C3.ai, Inc. (NYSE:AI) Acquired by Evoke Wealth LLC

Evoke Wealth LLC purchased a new stake in C3.ai, Inc. (NYSE:AI) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 19,317 shares of the company’s stock, valued at approximately $559,000. C3.ai accounts for 0.7% of Evoke Wealth LLC’s portfolio, making the stock its 28th largest holding.

Several other hedge funds have also recently bought and sold shares of AI. ICA Group Wealth Management LLC bought a new position in C3.ai in the 4th quarter valued at $29,000. Toth Financial Advisory Corp increased its stake in shares of C3.ai by 900.0% in the first quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock valued at $27,000 after buying an additional 900 shares in the last quarter. Hobbs Group Advisors LLC bought a new position in shares of C3.ai in the second quarter valued at about $29,000. Unique Wealth Strategies LLC acquired a new position in C3.ai during the 2nd quarter worth about $28,000. Finally, Blue Trust Inc. grew its holdings in 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 acquiring an additional 615 shares during the last quarter. 38.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at C3.ai

In other C3.ai news, CFO Hitesh Lath sold 3,005 shares of C3.ai 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 transaction, the chief financial officer now directly owns 7,390 shares in the company, valued at $203,668.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 34.00% of the stock is owned by corporate insiders.

C3.ai Trading Down 2.0 %

Shares of AI opened at $23.25 on Friday. The stock has a market cap of $2.90 billion, a P/E ratio of -9.94 and a beta of 1.81. C3.ai, Inc. has a 1 year low of $18.85 and a 1 year high of $38.30. The stock’s 50-day moving average price is $24.85 and its two-hundred day moving average price is $26.08.

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 analysts’ consensus estimates of ($0.13) by $0.08. The firm had revenue of $87.21 million during the quarter, compared to analysts’ expectations of $86.94 million. C3.ai had a negative net margin of 85.47% and a negative return on equity of 31.28%. The business’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.56) earnings per share. As a group, equities analysts forecast that C3.ai, Inc. will post -2.32 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on AI. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research note on Thursday, September 5th. Piper Sandler reduced their price objective on C3.ai from $29.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. DA Davidson lowered their target price on C3.ai from $30.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Piper Sandler Companies reaffirmed a “neutral” rating and set a $24.00 price target on shares of C3.ai in a research note on Thursday, September 5th. Finally, Morgan Stanley lowered their price objective on C3.ai from $23.00 to $21.00 and set an “underweight” rating for the company in a research report on Thursday, September 5th. Three 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $27.70.

C3.ai 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.