US Bancorp DE Decreases Stock Position in C3.ai, Inc. (NYSE:AI)

US Bancorp DE decreased its stake in shares of C3.ai, Inc. (NYSE:AI) by 14.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,471 shares of the company’s stock after selling 1,137 shares during the quarter. US Bancorp DE’s holdings in C3.ai were worth $157,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Swiss National Bank lifted its holdings in C3.ai by 1.6% during the 1st quarter. Swiss National Bank now owns 195,200 shares of the company’s stock worth $5,284,000 after buying an additional 3,000 shares during the last quarter. ProShare Advisors LLC increased its stake in C3.ai by 8.4% in the first quarter. ProShare Advisors LLC now owns 16,790 shares of the company’s stock valued at $455,000 after purchasing an additional 1,300 shares during the last quarter. State Board of Administration of Florida Retirement System raised its holdings in C3.ai by 8.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 22,964 shares of the company’s stock worth $622,000 after purchasing an additional 1,820 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of C3.ai by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 10,647,900 shares of the company’s stock worth $288,239,000 after buying an additional 317,768 shares during the last quarter. Finally, EP Wealth Advisors LLC boosted its holdings in shares of C3.ai by 6.2% in the 1st quarter. EP Wealth Advisors LLC now owns 10,239 shares of the company’s stock valued at $277,000 after buying an additional 600 shares in the last quarter. Institutional investors and hedge funds own 38.96% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on AI. Piper Sandler Companies restated a “neutral” rating and issued a $24.00 price objective on shares of C3.ai in a research note on Thursday, September 5th. StockNews.com upgraded C3.ai to a “sell” rating in a research note on Tuesday. DA Davidson reduced their price objective 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. Bank of America lowered their target price on shares of C3.ai from $24.00 to $20.00 and set an “underperform” rating on the stock in a research report on Thursday, September 5th. Finally, Wedbush reduced their price target on shares of C3.ai from $40.00 to $30.00 and set an “outperform” 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 assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. 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 Trading Down 1.6 %

NYSE AI opened at $25.97 on Friday. The business’s 50 day moving average is $24.83 and its two-hundred day moving average is $25.95. The stock has a market capitalization of $3.30 billion, a price-to-earnings ratio of -11.38 and a beta of 1.80. C3.ai, Inc. has a 12-month low of $18.85 and a 12-month high of $38.30.

C3.ai (NYSE:AI) last released its earnings results on Wednesday, September 4th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.08. The company 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%. C3.ai’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.56) earnings per share. Equities analysts forecast that C3.ai, Inc. will post -2.31 earnings per share for the current fiscal year.

About C3.ai

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.