C3.ai, Inc. (NYSE:AI) Shares Purchased by PFG Investments LLC

PFG Investments LLC raised its position in C3.ai, Inc. (NYSE:AI) by 46.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,868 shares of the company’s stock after purchasing an additional 5,695 shares during the quarter. PFG Investments LLC’s holdings in C3.ai were worth $517,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in AI. Principal Financial Group Inc. raised its holdings in shares of C3.ai by 11.7% in the 1st quarter. Principal Financial Group Inc. now owns 10,703 shares of the company’s stock valued at $290,000 after buying an additional 1,119 shares during the period. Global Assets Advisory LLC increased 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. Charles Schwab Investment Management Inc. increased its stake in C3.ai by 10.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 706,677 shares of the company’s stock worth $20,289,000 after purchasing an additional 66,701 shares during the period. B. Riley Wealth Advisors Inc. acquired a new stake in shares of C3.ai during the fourth quarter worth about $1,012,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of C3.ai by 4,860.6% in the first quarter. EverSource Wealth Advisors LLC now owns 31,946 shares of the company’s stock valued at $865,000 after purchasing an additional 31,302 shares during the period. 38.96% of the stock is currently owned by institutional investors and hedge funds.

C3.ai Stock Down 0.5 %

AI stock opened at $21.40 on Thursday. The business has a 50 day moving average price of $25.74 and a 200 day moving average price of $26.53. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of -9.15 and a beta of 1.81. C3.ai, Inc. has a fifty-two week low of $18.85 and a fifty-two week high of $38.30.

C3.ai (NYSE:AI) last issued its quarterly earnings data on Wednesday, September 4th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.08. The business had revenue of $87.21 million during the quarter, compared to the consensus estimate of $86.94 million. C3.ai had a negative net margin of 85.47% and a negative return on equity of 31.28%. The company’s revenue was up 20.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.56) EPS. As a group, sell-side analysts anticipate that C3.ai, Inc. will post -2.35 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AI. Wedbush cut 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 note on Thursday, September 5th. JMP Securities reaffirmed a “market outperform” rating and set a $40.00 price objective on shares of C3.ai in a research report on Thursday, September 5th. Northland Securities upgraded C3.ai from a “market perform” rating to an “outperform” rating and set a $35.00 target price for the company in a report on Thursday, May 30th. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a report on Thursday, September 5th. Finally, Canaccord Genuity Group decreased their price objective on C3.ai from $30.00 to $23.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, C3.ai currently has an average rating of “Hold” and an average price target of $27.70.

Insider Activity at C3.ai

In other news, CFO Hitesh Lath sold 3,005 shares of C3.ai stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $27.56, for a total transaction of $82,817.80. Following the sale, the chief financial officer now owns 7,390 shares in the company, valued at $203,668.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 34.00% of the stock is owned by corporate insiders.

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.