Ensign Peak Advisors Inc Purchases 700 Shares of C3.ai, Inc. (NYSE:AI)

Ensign Peak Advisors Inc lifted its position in C3.ai, Inc. (NYSE:AI) by 1.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 39,845 shares of the company’s stock after buying an additional 700 shares during the period. Ensign Peak Advisors Inc’s holdings in C3.ai were worth $1,154,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in C3.ai by 3.1% during the first quarter. Vanguard Group Inc. now owns 10,647,900 shares of the company’s stock valued at $288,239,000 after purchasing an additional 317,768 shares during the last quarter. Coatue Management LLC lifted its holdings in shares of C3.ai by 25.1% during the 4th quarter. Coatue Management LLC now owns 2,832,229 shares of the company’s stock worth $81,313,000 after acquiring an additional 568,369 shares during the last quarter. Global Assets Advisory LLC grew its position in C3.ai by 2,547.8% in the first quarter. Global Assets Advisory LLC now owns 896,676 shares of the company’s stock worth $24,273,000 after acquiring an additional 862,811 shares in the last quarter. Bank of New York Mellon Corp increased its stake in C3.ai by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 771,540 shares of the company’s stock valued at $22,344,000 after acquiring an additional 1,929 shares during the last quarter. Finally, Norges Bank purchased a new stake in C3.ai during the fourth quarter valued at about $10,879,000. Hedge funds and other institutional investors own 38.96% of the company’s stock.

C3.ai Trading Down 0.6 %

Shares of NYSE:AI opened at $24.22 on Friday. The company has a market cap of $3.02 billion, a price-to-earnings ratio of -10.35 and a beta of 1.81. C3.ai, Inc. has a 12 month low of $18.85 and a 12 month high of $38.30. The company has a 50-day moving average price of $24.29 and a 200-day moving average price of $25.85.

C3.ai (NYSE:AI) last released 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. 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 during the quarter, compared to analysts’ expectations of $86.94 million. During the same quarter last year, the business posted ($0.56) EPS. The business’s revenue was up 20.5% on a year-over-year basis. As a group, research analysts forecast that C3.ai, Inc. will post -2.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AI has been the subject of a number of research reports. Canaccord Genuity Group reduced their price objective on C3.ai from $30.00 to $23.00 and set a “hold” rating on the stock in a research report on Thursday, September 5th. Morgan Stanley cut their target price on C3.ai from $23.00 to $21.00 and set an “underweight” rating for the company in a research note on Thursday, September 5th. Piper Sandler Companies reissued a “neutral” rating and set a $24.00 price target on shares of C3.ai in a research note on Thursday, September 5th. JMP Securities reaffirmed a “market outperform” rating and set a $40.00 target price on shares of C3.ai in a report on Thursday, September 5th. Finally, Wedbush lowered their price target on shares of C3.ai from $40.00 to $30.00 and set an “outperform” 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 assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $27.70.

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.