19,317 Shares in C3.ai, Inc. (NYSE:AI) Bought by Evoke Wealth LLC

Evoke Wealth LLC acquired a new stake in C3.ai, Inc. (NYSE:AI) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 19,317 shares of the company’s stock, valued at approximately $559,000. C3.ai makes up about 0.7% of Evoke Wealth LLC’s portfolio, making the stock its 28th biggest holding.

Other hedge funds have also modified their holdings of the company. American Century Companies Inc. lifted its position in C3.ai by 2.1% during the 2nd quarter. American Century Companies Inc. now owns 21,447 shares of the company’s stock worth $621,000 after buying an additional 432 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of C3.ai by 4.3% in the second quarter. Principal Financial Group Inc. now owns 11,165 shares of the company’s stock valued at $323,000 after acquiring an additional 462 shares during the last quarter. Forum Financial Management LP raised its holdings in C3.ai by 4.4% during the second quarter. Forum Financial Management LP now owns 12,893 shares of the company’s stock worth $373,000 after acquiring an additional 539 shares in the last quarter. Rhumbline Advisers boosted its position in C3.ai by 0.5% during the second quarter. Rhumbline Advisers now owns 125,344 shares of the company’s stock valued at $3,630,000 after purchasing an additional 572 shares during the last quarter. Finally, EP Wealth Advisors LLC grew its stake in C3.ai by 6.2% in the first quarter. EP Wealth Advisors LLC now owns 10,239 shares of the company’s stock valued at $277,000 after purchasing an additional 600 shares in the last quarter. 38.96% of the stock is currently owned by institutional investors.

Insider Transactions at C3.ai

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

Analysts Set New Price Targets

AI has been the topic of several analyst reports. Piper Sandler Companies reaffirmed a “neutral” rating and set a $24.00 price target on shares of C3.ai in a research report on Thursday, September 5th. DA Davidson cut their target price on shares of C3.ai from $30.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. JMP Securities reissued a “market outperform” rating and set a $40.00 price target on shares of C3.ai in a research report on Thursday, September 5th. Northland Capmk raised C3.ai from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 30th. Finally, Piper Sandler reduced their target price on C3.ai from $29.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, C3.ai currently has an average rating of “Hold” and an average price target of $27.70.

C3.ai Stock Down 2.0 %

NYSE AI opened at $23.25 on Friday. The firm has a 50-day moving average price of $24.85 and a two-hundred day moving average price of $26.08. C3.ai, Inc. has a 12-month low of $18.85 and a 12-month high of $38.30. The company has a market capitalization of $2.90 billion, a P/E ratio of -9.94 and a beta of 1.81.

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

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.