Northwestern Mutual Wealth Management Co. Boosts Stake in C3.ai, Inc. (NYSE:AI)

Northwestern Mutual Wealth Management Co. boosted its holdings in C3.ai, Inc. (NYSE:AI) by 311.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,050 shares of the company’s stock after acquiring an additional 795 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in C3.ai were worth $30,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Toth Financial Advisory Corp increased its holdings in shares of C3.ai by 900.0% in the 1st quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock valued at $27,000 after purchasing an additional 900 shares in the last quarter. Unique Wealth Strategies LLC purchased a new position in C3.ai in the second quarter valued at about $28,000. Blue Trust Inc. lifted its position in shares of C3.ai by 148.9% during the 2nd quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock valued at $28,000 after acquiring an additional 615 shares during the period. Hobbs Group Advisors LLC purchased a new stake in shares of C3.ai during the 2nd quarter worth approximately $29,000. Finally, Comerica Bank grew its holdings in shares of C3.ai by 305.1% in the 1st quarter. Comerica Bank now owns 1,203 shares of the company’s stock worth $33,000 after acquiring an additional 906 shares during the period. Institutional investors and hedge funds own 38.96% of the company’s stock.

C3.ai Stock Up 3.9 %

NYSE:AI opened at $27.24 on Monday. C3.ai, Inc. has a fifty-two week low of $18.85 and a fifty-two week high of $38.30. The firm’s 50 day moving average is $23.82 and its two-hundred day moving average is $25.54. The company has a market cap of $3.40 billion, a P/E ratio of -11.64 and a beta of 1.81.

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

Analysts Set New Price Targets

A number of analysts have commented on AI shares. DA Davidson decreased their target price on C3.ai from $30.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Piper Sandler lowered their price objective on shares of C3.ai from $29.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Oppenheimer restated an “outperform” rating and set a $40.00 target price on shares of C3.ai in a report on Thursday, September 5th. Piper Sandler Companies reaffirmed a “neutral” rating and issued a $24.00 price target on shares of C3.ai in a report on Thursday, September 5th. Finally, Wedbush dropped their price objective 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 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $27.70.

About C3.ai

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.