Optimum Investment Advisors Reduces Stock Holdings in C3.ai, Inc. (NYSE:AI)

Optimum Investment Advisors cut its holdings in C3.ai, Inc. (NYSE:AI) by 74.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,968 shares of the company’s stock after selling 5,600 shares during the quarter. Optimum Investment Advisors’ holdings in C3.ai were worth $48,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in C3.ai by 11.7% during the 1st quarter. Principal Financial Group Inc. now owns 10,703 shares of the company’s stock worth $290,000 after purchasing an additional 1,119 shares in the last quarter. Global Assets Advisory LLC lifted its stake in shares of C3.ai by 2,547.8% during the 1st 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. Susquehanna Fundamental Investments LLC acquired a new stake in shares of C3.ai during the second quarter worth $3,465,000. EverSource Wealth Advisors LLC grew its position 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. Finally, B. Riley Wealth Advisors Inc. acquired a new position in C3.ai in the fourth quarter valued at $1,012,000. 38.96% of the stock is owned by institutional investors and hedge funds.

C3.ai Stock Performance

Shares of C3.ai stock opened at $25.68 on Friday. C3.ai, Inc. has a 1 year low of $18.85 and a 1 year high of $38.30. The firm’s 50-day simple moving average is $24.03 and its 200-day simple moving average is $25.52. The firm has a market cap of $3.21 billion, a PE ratio of -10.97 and a beta of 1.81.

C3.ai (NYSE:AI) last released its 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. C3.ai had a negative return on equity of 31.28% and a negative net margin of 85.47%. The company had revenue of $87.21 million for the quarter, compared to the consensus estimate of $86.94 million. During the same quarter last year, the business posted ($0.56) EPS. C3.ai’s quarterly revenue was up 20.5% compared to the same quarter last year. On average, equities analysts predict that C3.ai, Inc. will post -2.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on AI shares. Wedbush decreased 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 report on Thursday, September 5th. Piper Sandler cut their price objective on C3.ai from $29.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Bank of America decreased their target price on C3.ai from $24.00 to $20.00 and set an “underperform” rating for the company in a 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 on the stock in a research note on Thursday, September 5th. Finally, Morgan Stanley reduced their price objective on C3.ai from $23.00 to $21.00 and set an “underweight” rating on the stock in a research note on Thursday, September 5th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, C3.ai 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.