C3.ai, Inc. (NYSE:AI) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company grew its position in C3.ai, Inc. (NYSE:AI) by 3.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 53,554 shares of the company’s stock after acquiring an additional 1,940 shares during the period. The Manufacturers Life Insurance Company’s holdings in C3.ai were worth $1,551,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of AI. American Century Companies Inc. raised its holdings in C3.ai by 2.1% in the 2nd 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. increased its position 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 acquiring an additional 462 shares during the period. Forum Financial Management LP boosted its stake in shares of C3.ai by 4.4% in the 2nd 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 period. Rhumbline Advisers raised its holdings in shares of C3.ai by 0.5% in the 2nd quarter. Rhumbline Advisers now owns 125,344 shares of the company’s stock valued at $3,630,000 after purchasing an additional 572 shares in the last quarter. Finally, EP Wealth Advisors LLC boosted its position in shares of C3.ai by 6.2% during the 1st quarter. EP Wealth Advisors LLC now owns 10,239 shares of the company’s stock worth $277,000 after acquiring an additional 600 shares in the last quarter. 38.96% of the stock is owned by institutional investors and hedge funds.

C3.ai Stock Up 0.5 %

AI opened at $26.22 on Friday. C3.ai, Inc. has a fifty-two week low of $18.85 and a fifty-two week high of $38.30. The firm has a market cap of $3.27 billion, a PE ratio of -11.21 and a beta of 1.81. The business has a fifty day simple moving average of $23.76 and a 200-day simple moving average of $25.54.

C3.ai (NYSE:AI) last released its earnings results 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 company had revenue of $87.21 million during the quarter, compared to analyst estimates of $86.94 million. C3.ai had a negative return on equity of 31.28% and a negative net margin of 85.47%. The company’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.56) earnings per share. On average, equities research analysts anticipate that C3.ai, Inc. will post -2.32 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on AI. Wedbush reduced their target price on C3.ai from $40.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a research note on Thursday, September 5th. Canaccord Genuity Group cut their target price on shares of C3.ai from $30.00 to $23.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. 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 report on Thursday, September 5th. Finally, Piper Sandler cut their target price on C3.ai from $29.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Three 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 stock. According to MarketBeat, the company presently 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.