Allspring Global Investments Holdings LLC Boosts Stake in C3.ai, Inc. (NYSE:AI)

Allspring Global Investments Holdings LLC boosted its position in shares of C3.ai, Inc. (NYSE:AI) by 21.5% in the third quarter, Holdings Channel reports. The fund owned 4,745 shares of the company’s stock after purchasing an additional 839 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in C3.ai were worth $115,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the company. JTC Employer Solutions Trustee Ltd purchased a new stake in C3.ai during the third quarter valued at $25,000. Probity Advisors Inc. increased its position in C3.ai by 9.5% during the third quarter. Probity Advisors Inc. now owns 15,192 shares of the company’s stock valued at $368,000 after acquiring an additional 1,312 shares during the last quarter. Aspect Partners LLC increased its position in C3.ai by 35.5% during the third quarter. Aspect Partners LLC now owns 21,937 shares of the company’s stock valued at $532,000 after acquiring an additional 5,753 shares during the last quarter. Creative Planning increased its position in C3.ai by 7.0% in the third quarter. Creative Planning now owns 56,573 shares of the company’s stock worth $1,371,000 after buying an additional 3,712 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA increased its position in C3.ai by 25.0% in the third quarter. Compagnie Lombard Odier SCmA now owns 10,000 shares of the company’s stock worth $242,000 after buying an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 38.96% of the company’s stock.

C3.ai Trading Down 0.8 %

Shares of C3.ai stock opened at $24.84 on Tuesday. The firm has a market cap of $3.16 billion, a PE ratio of -10.89 and a beta of 1.80. C3.ai, Inc. has a 12 month low of $18.85 and a 12 month high of $38.30. The stock has a 50 day moving average of $24.13 and a 200 day moving average of $25.71.

C3.ai (NYSE:AI) last posted its quarterly earnings data on Wednesday, September 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.08. The business had revenue of $87.21 million during 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%. The company’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same period last year, the company earned ($0.56) EPS. As a group, equities research analysts forecast that C3.ai, Inc. will post -2.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on AI shares. Piper Sandler reduced their price target on C3.ai from $29.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a research report on Thursday, September 5th. DA Davidson reduced their price target on C3.ai from $30.00 to $20.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Wedbush dropped their price objective on C3.ai from $40.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. Finally, Piper Sandler Companies reaffirmed a “neutral” rating and issued a $24.00 price objective on shares of C3.ai 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $27.70.

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.