Mutual of America Capital Management LLC Trims Stock Position in C3.ai, Inc. (NYSE:AI)

Mutual of America Capital Management LLC cut its position in shares of C3.ai, Inc. (NYSE:AI) by 4.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,815 shares of the company’s stock after selling 3,714 shares during the period. Mutual of America Capital Management LLC owned approximately 0.07% of C3.ai worth $2,485,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. raised its stake in C3.ai by 11.7% during the first quarter. Principal Financial Group Inc. now owns 10,703 shares of the company’s stock worth $290,000 after purchasing an additional 1,119 shares during the period. Global Assets Advisory LLC raised its stake in C3.ai by 2,547.8% during the first quarter. Global Assets Advisory LLC now owns 896,676 shares of the company’s stock worth $24,273,000 after purchasing an additional 862,811 shares during the period. B. Riley Wealth Advisors Inc. purchased a new position in C3.ai during the fourth quarter worth about $1,012,000. EverSource Wealth Advisors LLC raised its stake in C3.ai by 4,860.6% during the first quarter. EverSource Wealth Advisors LLC now owns 31,946 shares of the company’s stock worth $865,000 after purchasing an additional 31,302 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in shares of C3.ai in the 1st quarter valued at approximately $1,055,000. 38.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley reduced their price target on shares of C3.ai from $23.00 to $21.00 and set an “underweight” rating on the stock in a research note on Thursday, September 5th. Northland Securities raised shares of C3.ai from a “market perform” rating to an “outperform” rating and set a $35.00 price target on the stock in a research note on Thursday, May 30th. Bank of America reduced their price target on shares of C3.ai from $24.00 to $20.00 and set an “underperform” rating on the stock in a research note on Thursday, September 5th. Piper Sandler Companies reissued a “neutral” rating and issued a $24.00 price target on shares of C3.ai in a research note on Thursday, September 5th. Finally, DA Davidson reduced their price target on shares of C3.ai from $30.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Three investment 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $27.70.

C3.ai Stock Down 0.4 %

NYSE AI opened at $23.20 on Wednesday. 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 $2.90 billion, a PE ratio of -9.91 and a beta of 1.81. The firm has a 50 day moving average of $24.56 and a two-hundred day moving average of $25.92.

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

Insiders Place Their Bets

In other C3.ai news, CFO Hitesh Lath sold 3,005 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $27.56, for a total transaction of $82,817.80. Following the completion of the transaction, the chief financial officer now owns 7,390 shares in the company, valued at approximately $203,668.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 34.00% of the stock is currently owned by company insiders.

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.