Magnetar Financial LLC Sells 6,356 Shares of C3.ai, Inc. (NYSE:AI)

Magnetar Financial LLC lessened its position in shares of C3.ai, Inc. (NYSE:AI) by 44.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,959 shares of the company’s stock after selling 6,356 shares during the period. Magnetar Financial LLC’s holdings in C3.ai were worth $230,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of AI. Toth Financial Advisory Corp grew its holdings in C3.ai by 900.0% during the 1st quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock worth $27,000 after acquiring an additional 900 shares during the period. Unique Wealth Strategies LLC acquired a new stake in C3.ai during the second quarter worth approximately $28,000. Blue Trust Inc. increased its holdings in C3.ai by 148.9% in the second quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock worth $28,000 after purchasing an additional 615 shares in the last quarter. ICA Group Wealth Management LLC bought a new stake in C3.ai in the fourth quarter worth approximately $29,000. Finally, Hobbs Group Advisors LLC bought a new position in shares of C3.ai during the 2nd quarter worth approximately $29,000. Institutional investors own 38.96% of the company’s stock.

C3.ai Stock Up 4.1 %

Shares of NYSE:AI opened at $24.17 on Thursday. The business’s 50 day moving average is $24.44 and its 200 day moving average is $25.91. C3.ai, Inc. has a 12-month low of $18.85 and a 12-month high of $38.30. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of -10.33 and a beta of 1.81.

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, topping analysts’ consensus estimates of ($0.13) by $0.08. The firm had revenue of $87.21 million for the quarter, compared to the consensus estimate 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 period in the previous year, the firm earned ($0.56) EPS. As a group, equities research analysts expect that C3.ai, Inc. will post -2.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AI. Oppenheimer reiterated an “outperform” rating and issued a $40.00 price objective on shares of C3.ai in a research note on Thursday, September 5th. Morgan Stanley decreased their price target on shares of C3.ai from $23.00 to $21.00 and set an “underweight” rating for the company in a research note on Thursday, September 5th. Wedbush cut their price objective on shares of C3.ai from $40.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. JMP Securities reaffirmed a “market outperform” rating and issued a $40.00 target price on shares of C3.ai in a research report on Thursday, September 5th. Finally, Piper Sandler Companies reiterated a “neutral” rating and issued a $24.00 price target on shares of C3.ai in a report on Thursday, September 5th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, C3.ai currently has an average rating of “Hold” and a consensus target price of $27.70.

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.