Cwm LLC Lowers Stake in C3.ai, Inc. (NYSE:AI)

Cwm LLC cut its stake in C3.ai, Inc. (NYSE:AI) by 12.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,309 shares of the company’s stock after selling 634 shares during the period. Cwm LLC’s holdings in C3.ai were worth $124,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of C3.ai by 6.7% in the 3rd quarter. Vanguard Group Inc. now owns 10,477,374 shares of the company’s stock worth $267,383,000 after acquiring an additional 659,986 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in C3.ai during the fourth quarter valued at about $25,630,000. Arkadios Wealth Advisors grew its stake in shares of C3.ai by 68.5% during the fourth quarter. Arkadios Wealth Advisors now owns 20,744 shares of the company’s stock valued at $596,000 after buying an additional 8,436 shares during the last quarter. Fort Pitt Capital Group LLC purchased a new position in shares of C3.ai in the third quarter worth about $204,000. Finally, Raymond James & Associates lifted its stake in shares of C3.ai by 148.3% in the 3rd quarter. Raymond James & Associates now owns 158,943 shares of the company’s stock valued at $4,056,000 after acquiring an additional 94,932 shares during the last quarter. Institutional investors own 38.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AI. Wedbush decreased their price target on C3.ai from $42.00 to $35.00 and set an “overweight” rating on the stock in a research note on Thursday, February 29th. Bank of America upped their price target on shares of C3.ai from $18.00 to $20.00 and gave the company an “underperform” rating in a report on Thursday, February 29th. Canaccord Genuity Group raised their price target on shares of C3.ai from $27.00 to $31.00 and gave the stock a “hold” rating in a report on Thursday, February 29th. Finally, Piper Sandler upped their price objective on shares of C3.ai from $27.00 to $33.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $31.50.

C3.ai Trading Up 3.8 %

Shares of AI opened at $24.04 on Monday. C3.ai, Inc. has a 1-year low of $17.15 and a 1-year high of $48.87. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of -10.32 and a beta of 1.74. The firm’s 50-day moving average price is $26.57 and its 200-day moving average price is $27.22.

C3.ai (NYSE:AI) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.60) earnings per share for the quarter, beating the consensus estimate of ($0.73) by $0.13. C3.ai had a negative return on equity of 29.60% and a negative net margin of 95.21%. The business had revenue of $78.40 million for the quarter, compared to analysts’ expectations of $75.92 million. On average, research analysts forecast that C3.ai, Inc. will post -2.48 EPS for the current fiscal year.

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.