C3.ai, Inc. (NYSE:AI) Shares Purchased by Cetera Investment Advisers

Cetera Investment Advisers increased its holdings in C3.ai, Inc. (NYSE:AI) by 16.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 57,341 shares of the company’s stock after purchasing an additional 8,094 shares during the quarter. Cetera Investment Advisers’ holdings in C3.ai were worth $1,661,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AI. American Century Companies Inc. raised its holdings in shares of C3.ai by 2.1% during the second quarter. American Century Companies Inc. now owns 21,447 shares of the company’s stock valued at $621,000 after acquiring an additional 432 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of C3.ai by 4.3% during the second quarter. Principal Financial Group Inc. now owns 11,165 shares of the company’s stock worth $323,000 after buying an additional 462 shares in the last quarter. Forum Financial Management LP raised its position in shares of C3.ai by 4.4% in the second quarter. Forum Financial Management LP now owns 12,893 shares of the company’s stock valued at $373,000 after buying an additional 539 shares during the last quarter. Rhumbline Advisers raised its position in shares of C3.ai by 0.5% in the second quarter. Rhumbline Advisers now owns 125,344 shares of the company’s stock valued at $3,630,000 after buying an additional 572 shares during the last quarter. Finally, EP Wealth Advisors LLC lifted its stake in shares of C3.ai by 6.2% in the first quarter. EP Wealth Advisors LLC now owns 10,239 shares of the company’s stock worth $277,000 after buying an additional 600 shares in the last quarter. 38.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on AI. Piper Sandler dropped their price target on C3.ai from $29.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Bank of America cut their target price on C3.ai from $24.00 to $20.00 and set an “underperform” rating for the company in a research note on Thursday, September 5th. Morgan Stanley decreased their target price on shares of C3.ai from $23.00 to $21.00 and set an “underweight” rating on the stock in a report on Thursday, September 5th. Piper Sandler Companies restated a “neutral” rating and set a $24.00 price target on shares of C3.ai in a report on Thursday, September 5th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $40.00 price objective on shares of C3.ai in a report on Thursday, September 5th. Three investment analysts have rated the stock with a sell rating, five have assigned 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 an average rating of “Hold” and a consensus target price of $27.70.

C3.ai Trading Up 1.2 %

C3.ai stock opened at $27.58 on Tuesday. The firm has a market capitalization of $3.44 billion, a P/E ratio of -11.79 and a beta of 1.81. C3.ai, Inc. has a twelve month low of $18.85 and a twelve month high of $38.30. The stock’s fifty day simple moving average is $23.90 and its 200-day simple moving average is $25.53.

C3.ai (NYSE:AI) last announced 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 business had revenue of $87.21 million during the quarter, compared to analysts’ expectations of $86.94 million. C3.ai had a negative return on equity of 31.28% and a negative net margin of 85.47%. The business’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.56) EPS. Sell-side analysts predict that C3.ai, Inc. will post -2.32 earnings per share for the current year.

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.