Banque Cantonale Vaudoise Sells 2,641 Shares of C3.ai, Inc. (NYSE:AI)

Banque Cantonale Vaudoise decreased its holdings in shares of C3.ai, Inc. (NYSE:AI) by 20.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 10,478 shares of the company’s stock after selling 2,641 shares during the period. Banque Cantonale Vaudoise’s holdings in C3.ai were worth $254,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. BIP Wealth LLC bought a new position in shares of C3.ai during the third quarter valued at approximately $250,000. Quest Partners LLC grew its stake in shares of C3.ai by 9,033.3% during the third quarter. Quest Partners LLC now owns 1,644 shares of the company’s stock valued at $40,000 after buying an additional 1,626 shares during the last quarter. KBC Group NV grew its stake in shares of C3.ai by 37.0% during the third quarter. KBC Group NV now owns 3,593 shares of the company’s stock valued at $87,000 after buying an additional 971 shares during the last quarter. Victory Capital Management Inc. grew its stake in C3.ai by 3.4% in the third quarter. Victory Capital Management Inc. now owns 14,078 shares of the company’s stock worth $341,000 after purchasing an additional 457 shares in the last quarter. Finally, Versor Investments LP grew its stake in C3.ai by 6.4% in the third quarter. Versor Investments LP now owns 12,800 shares of the company’s stock worth $310,000 after purchasing an additional 770 shares in the last quarter. Institutional investors own 38.96% of the company’s stock.

Wall Street Analysts Forecast Growth

AI has been the topic of several research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research note on Thursday, September 5th. StockNews.com upgraded C3.ai to a “sell” rating in a report on Tuesday, November 12th. Wedbush lowered their target price on C3.ai from $40.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. Canaccord Genuity Group lowered their target price on C3.ai from $30.00 to $23.00 and set a “hold” rating for the company in a report on Thursday, September 5th. Finally, Oppenheimer restated an “outperform” rating and set a $40.00 target price on shares of C3.ai in a report on Thursday, September 5th. Three analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $27.70.

C3.ai Price Performance

AI opened at $37.43 on Friday. The company’s 50 day simple moving average is $25.72 and its two-hundred day simple moving average is $26.21. C3.ai, Inc. has a 1-year low of $18.85 and a 1-year high of $38.30. The firm has a market capitalization of $4.75 billion, a price-to-earnings ratio of -16.41 and a beta of 1.80.

C3.ai (NYSE:AI) last released its quarterly earnings results on Wednesday, September 4th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.08. The firm had revenue of $87.21 million for the quarter, compared to analyst estimates of $86.94 million. C3.ai had a negative net margin of 85.47% and a negative return on equity of 31.28%. The business’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.56) EPS. On average, equities analysts anticipate that C3.ai, Inc. will post -2.31 earnings per share for the current fiscal year.

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.