Aspect Partners LLC Has $532,000 Stock Holdings in C3.ai, Inc. (NYSE:AI)

Aspect Partners LLC lifted its holdings in C3.ai, Inc. (NYSE:AI) by 35.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,937 shares of the company’s stock after buying an additional 5,753 shares during the quarter. Aspect Partners LLC’s holdings in C3.ai were worth $532,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. American Century Companies Inc. lifted its stake in shares of C3.ai by 2.1% during the second quarter. American Century Companies Inc. now owns 21,447 shares of the company’s stock valued at $621,000 after acquiring an additional 432 shares during the period. Principal Financial Group Inc. boosted its stake in shares of C3.ai by 4.3% in the 2nd quarter. Principal Financial Group Inc. now owns 11,165 shares of the company’s stock valued at $323,000 after purchasing an additional 462 shares during the last quarter. Forum Financial Management LP grew its position in shares of C3.ai by 4.4% during the 2nd quarter. Forum Financial Management LP now owns 12,893 shares of the company’s stock worth $373,000 after buying an additional 539 shares during the period. Rhumbline Advisers raised its stake in shares of C3.ai by 0.5% during the second quarter. Rhumbline Advisers now owns 125,344 shares of the company’s stock worth $3,630,000 after buying an additional 572 shares during the last quarter. Finally, EP Wealth Advisors LLC lifted its holdings in C3.ai by 6.2% in the first quarter. EP Wealth Advisors LLC now owns 10,239 shares of the company’s stock valued at $277,000 after buying an additional 600 shares during the period. Institutional investors and hedge funds own 38.96% of the company’s stock.

C3.ai Stock Performance

C3.ai stock traded down $0.61 during mid-day trading on Tuesday, reaching $26.97. The company’s stock had a trading volume of 2,389,503 shares, compared to its average volume of 5,621,488. C3.ai, Inc. has a 12 month low of $18.85 and a 12 month high of $38.30. The business’s 50 day simple moving average is $23.90 and its 200 day simple moving average is $25.53. The company has a market capitalization of $3.37 billion, a price-to-earnings ratio of -11.68 and a beta of 1.81.

C3.ai (NYSE:AI) last posted its quarterly earnings results on Wednesday, September 4th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.08. C3.ai had a negative return on equity of 31.28% and a negative net margin of 85.47%. The business had revenue of $87.21 million during the quarter, compared to analysts’ expectations of $86.94 million. During the same quarter last year, the company posted ($0.56) earnings per share. C3.ai’s quarterly revenue was up 20.5% on a year-over-year basis. As a group, sell-side analysts expect that C3.ai, Inc. will post -2.32 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have commented on AI shares. Piper Sandler lowered their target price on shares of C3.ai from $29.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Canaccord Genuity Group cut their target price on C3.ai from $30.00 to $23.00 and set a “hold” 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 research report on Thursday, September 5th. Bank of America cut their price target on shares of C3.ai from $24.00 to $20.00 and set an “underperform” rating on the stock in a research report on Thursday, September 5th. Finally, Morgan Stanley decreased their price objective on shares of C3.ai from $23.00 to $21.00 and set an “underweight” rating for the company in a report on Thursday, September 5th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, C3.ai currently has a consensus 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.