8,603 Shares in C3.ai, Inc. (NYSE:AI) Purchased by AQR Capital Management LLC

AQR Capital Management LLC bought a new stake in shares of C3.ai, Inc. (NYSE:AI) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 8,603 shares of the company’s stock, valued at approximately $249,000.

A number of other institutional investors and hedge funds have also made changes to their positions in AI. EP Wealth Advisors LLC increased its stake in shares of C3.ai by 7.2% during the fourth quarter. EP Wealth Advisors LLC now owns 9,639 shares of the company’s stock valued at $277,000 after purchasing an additional 644 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of C3.ai during the fourth quarter valued at approximately $1,012,000. Los Angeles Capital Management LLC grew its holdings in shares of C3.ai by 60.6% during the first quarter. Los Angeles Capital Management LLC now owns 19,585 shares of the company’s stock valued at $530,000 after buying an additional 7,392 shares during the last quarter. Banque Cantonale Vaudoise grew its holdings in shares of C3.ai by 283.5% during the first quarter. Banque Cantonale Vaudoise now owns 12,183 shares of the company’s stock valued at $329,000 after buying an additional 9,006 shares during the last quarter. Finally, Optimum Investment Advisors grew its holdings in shares of C3.ai by 188.7% during the first quarter. Optimum Investment Advisors now owns 8,568 shares of the company’s stock valued at $232,000 after buying an additional 5,600 shares during the last quarter. Institutional investors own 38.96% of the company’s stock.

C3.ai Stock Performance

Shares of NYSE AI opened at $25.92 on Friday. The company has a market cap of $3.24 billion, a P/E ratio of -11.08 and a beta of 1.81. The firm’s fifty day moving average is $24.02 and its two-hundred day moving average is $25.53. C3.ai, Inc. has a 52-week low of $18.85 and a 52-week high of $38.30.

C3.ai (NYSE:AI) last issued its quarterly earnings data on Wednesday, September 4th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.08. C3.ai had a negative net margin of 85.47% and a negative return on equity of 31.28%. The business had revenue of $87.21 million during the quarter, compared to analysts’ expectations of $86.94 million. During the same period last year, the company posted ($0.56) EPS. The business’s revenue was up 20.5% on a year-over-year basis. As a group, analysts forecast that C3.ai, Inc. will post -2.32 EPS for the current fiscal year.

Analysts Set New Price Targets

AI has been the topic of a number of recent analyst reports. Piper Sandler Companies reiterated a “neutral” rating and set a $24.00 price target on shares of C3.ai in a report on Thursday, September 5th. Morgan Stanley dropped their target price on shares of C3.ai from $23.00 to $21.00 and set an “underweight” rating on the stock in a report on Thursday, September 5th. DA Davidson dropped their target price on shares of C3.ai from $30.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Oppenheimer restated an “outperform” rating and issued a $40.00 target price on shares of C3.ai in a report on Thursday, September 5th. Finally, Canaccord Genuity Group dropped their target price on shares of C3.ai from $30.00 to $23.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average 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.