Creative Planning Grows Position in C3.ai, Inc. (NYSE:AI)

Creative Planning grew its stake in shares of C3.ai, Inc. (NYSE:AI) by 7.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 56,573 shares of the company’s stock after purchasing an additional 3,712 shares during the period. Creative Planning’s holdings in C3.ai were worth $1,371,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in AI. Vanguard Group Inc. grew its stake in C3.ai by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 10,647,900 shares of the company’s stock valued at $288,239,000 after acquiring an additional 317,768 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of C3.ai by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 771,540 shares of the company’s stock worth $22,344,000 after purchasing an additional 1,929 shares in the last quarter. Raymond James & Associates increased 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 in the last quarter. Swiss National Bank lifted its stake in C3.ai by 1.6% in the 1st quarter. Swiss National Bank now owns 195,200 shares of the company’s stock valued at $5,284,000 after buying an additional 3,000 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in C3.ai by 0.5% during the 2nd 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. 38.96% of the stock is owned by institutional investors and hedge funds.

C3.ai Stock Down 1.6 %

Shares of NYSE AI opened at $25.94 on Thursday. The firm’s 50-day moving average price is $24.10 and its two-hundred day moving average price is $25.58. C3.ai, Inc. has a 52-week low of $18.85 and a 52-week high of $38.30. The stock has a market capitalization of $3.24 billion, a P/E ratio of -11.09 and a beta of 1.81.

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

Analyst Upgrades and Downgrades

AI has been the topic of several recent research reports. Oppenheimer restated an “outperform” rating and issued a $40.00 price objective on shares of C3.ai in a research report on Thursday, September 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a research note on Thursday, September 5th. DA Davidson cut their price objective on shares of C3.ai from $30.00 to $20.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Wedbush decreased their target price on shares of C3.ai from $40.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. Finally, Bank of America cut their price target on C3.ai from $24.00 to $20.00 and set an “underperform” rating for the company in a report on Thursday, September 5th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average 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.