PFG Investments LLC Boosts Stock Holdings in C3.ai, Inc. (NYSE:AI)

PFG Investments LLC grew its holdings in shares of C3.ai, Inc. (NYSE:AI) by 24.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,273 shares of the company’s stock after purchasing an additional 4,405 shares during the period. PFG Investments LLC’s holdings in C3.ai were worth $540,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of AI. Pathway Financial Advisers LLC grew its holdings in C3.ai by 2,501.2% during the third quarter. Pathway Financial Advisers LLC now owns 8,844 shares of the company’s stock worth $214,000 after acquiring an additional 8,504 shares during the period. Allworth Financial LP grew its stake in C3.ai by 2.8% during the 3rd quarter. Allworth Financial LP now owns 35,915 shares of the company’s stock valued at $870,000 after acquiring an additional 994 shares in the last quarter. Global Assets Advisory LLC acquired a new stake in shares of C3.ai in the 3rd quarter worth $743,000. International Assets Investment Management LLC purchased a new stake in shares of C3.ai in the 3rd quarter valued at approximately $10,560,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of C3.ai by 21.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,745 shares of the company’s stock worth $115,000 after purchasing an additional 839 shares during the last quarter. Hedge funds and other institutional investors own 38.96% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on AI. Piper Sandler Companies reissued a “neutral” rating and issued a $24.00 price objective on shares of C3.ai in a research note on Thursday, September 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a report on Thursday, September 5th. JMP Securities reissued a “market outperform” rating and issued a $40.00 target price on shares of C3.ai in a report on Thursday, September 5th. DA Davidson lowered their price target on shares of C3.ai from $30.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Finally, Bank of America reduced their price objective on shares of C3.ai from $24.00 to $20.00 and set an “underperform” rating for the company in a research note on Thursday, September 5th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, C3.ai presently has a consensus rating of “Hold” and an average target price of $27.70.

C3.ai Stock Performance

NYSE AI opened at $26.35 on Tuesday. The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of -11.26 and a beta of 1.81. C3.ai, Inc. has a one year low of $18.85 and a one year high of $38.30. The company’s 50 day moving average price is $24.03 and its 200 day moving average price is $25.53.

C3.ai (NYSE:AI) last issued its earnings results on Wednesday, September 4th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.08. C3.ai had a negative net margin of 85.47% and a negative return on equity of 31.28%. The business had revenue of $87.21 million for the quarter, compared to the consensus estimate of $86.94 million. During the same quarter last year, the firm posted ($0.56) EPS. The business’s revenue for the quarter was up 20.5% compared to the same quarter last year. Sell-side analysts forecast that C3.ai, Inc. will post -2.32 EPS for the current fiscal year.

C3.ai 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.