Oppenheimer & Co. Inc. Acquires 2,177 Shares of C3.ai, Inc. (NYSE:AI)

Oppenheimer & Co. Inc. lifted its holdings in shares of C3.ai, Inc. (NYSE:AI) by 3.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 59,913 shares of the company’s stock after purchasing an additional 2,177 shares during the period. Oppenheimer & Co. Inc.’s holdings in C3.ai were worth $1,735,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Qsemble Capital Management LP bought a new stake in shares of C3.ai during the second quarter worth $672,000. American Century Companies Inc. boosted its holdings in C3.ai by 2.1% in the second 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. LGT Fund Management Co Ltd. bought a new position in C3.ai in the second quarter valued at about $924,000. LGT Group Foundation bought a new position in C3.ai in the second quarter valued at about $1,425,000. Finally, PFG Investments LLC boosted its holdings in C3.ai by 46.8% in the second quarter. PFG Investments LLC now owns 17,868 shares of the company’s stock valued at $517,000 after acquiring an additional 5,695 shares during the last quarter. Institutional investors own 38.96% of the company’s stock.

C3.ai Price Performance

NYSE AI opened at $23.34 on Wednesday. The firm has a market cap of $2.91 billion, a P/E ratio of -9.97 and a beta of 1.81. The stock’s 50-day moving average is $25.23 and its 200-day moving average is $26.23. C3.ai, Inc. has a one year low of $18.85 and a one year high of $38.30.

C3.ai (NYSE:AI) last released its quarterly earnings results on Wednesday, September 4th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.08. The company had revenue of $87.21 million for 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%. C3.ai’s revenue was up 20.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.56) earnings per share. Equities analysts anticipate that C3.ai, Inc. will post -2.32 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. JMP Securities reiterated a “market outperform” rating and issued a $40.00 price target on shares of C3.ai in a report on Thursday, September 5th. Morgan Stanley decreased their price target on C3.ai from $23.00 to $21.00 and set an “underweight” rating on the stock in a report on Thursday, September 5th. Piper Sandler decreased their price target on C3.ai from $29.00 to $24.00 and set a “neutral” rating on the stock in a 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 on the stock in a report on Thursday, May 30th. Finally, Oppenheimer restated an “outperform” rating and set a $40.00 target price on shares of C3.ai 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $27.70.

Insider Activity at C3.ai

In related news, CFO Hitesh Lath sold 3,005 shares of C3.ai stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $27.56, for a total value of $82,817.80. Following the sale, the chief financial officer now owns 7,390 shares of the company’s stock, valued at approximately $203,668.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 34.00% of the stock is owned by insiders.

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.