Allspring Global Investments Holdings LLC lifted its position in shares of C3.ai, Inc. (NYSE:AI – Free Report) by 18.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,518 shares of the company’s stock after acquiring an additional 1,003 shares during the period. Allspring Global Investments Holdings LLC’s holdings in C3.ai were worth $237,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also made changes to their positions in AI. JPMorgan Chase & Co. lifted its stake in C3.ai by 98.8% during the first quarter. JPMorgan Chase & Co. now owns 83,970 shares of the company’s stock worth $1,907,000 after purchasing an additional 41,723 shares during the last quarter. Raymond James & Associates increased its stake in shares of C3.ai by 27.9% in the 1st quarter. Raymond James & Associates now owns 93,029 shares of the company’s stock valued at $2,112,000 after purchasing an additional 20,295 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of C3.ai by 33.2% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 20,167 shares of the company’s stock worth $458,000 after buying an additional 5,025 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of C3.ai by 4.7% during the 1st quarter. Bank of New York Mellon Corp now owns 742,737 shares of the company’s stock worth $16,861,000 after buying an additional 33,060 shares during the last quarter. Finally, MetLife Investment Management LLC acquired a new stake in C3.ai in the first quarter valued at about $44,000. Institutional investors and hedge funds own 38.96% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have recently commented on AI shares. StockNews.com raised shares of C3.ai to a “sell” rating in a report on Tuesday, November 7th. Piper Sandler cut their target price on shares of C3.ai from $29.00 to $28.00 and set a “neutral” rating on the stock in a research report on Friday, September 8th. JMP Securities upped their price target on shares of C3.ai from $38.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, July 24th. Piper Sandler Companies dropped their price target on C3.ai from $29.00 to $28.00 and set a “neutral” rating for the company in a research note on Friday, September 8th. Finally, Wedbush reduced their price objective on C3.ai from $50.00 to $42.00 and set an “outperform” rating on the stock in a research report on Thursday, September 7th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $27.60.
C3.ai Stock Up 2.5 %
NYSE AI opened at $26.72 on Monday. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of -11.42 and a beta of 1.54. C3.ai, Inc. has a twelve month low of $10.16 and a twelve month high of $48.87. The stock has a fifty day simple moving average of $26.17 and a 200 day simple moving average of $30.78.
C3.ai (NYSE:AI – Get Free Report) last issued its quarterly earnings results on Wednesday, September 6th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.08. The company had revenue of $72.36 million during the quarter, compared to analysts’ expectations of $71.56 million. C3.ai had a negative return on equity of 27.78% and a negative net margin of 99.42%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.67) earnings per share. Research analysts expect that C3.ai, Inc. will post -2.24 earnings per share for the current fiscal year.
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.
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