C3.ai, Inc. (NYSE:AI) Shares Sold by US Bancorp DE

US Bancorp DE lessened its holdings in C3.ai, Inc. (NYSE:AI) by 14.9% during the 3rd quarter, Holdings Channel reports. The firm owned 6,471 shares of the company’s stock after selling 1,137 shares during the quarter. US Bancorp DE’s holdings in C3.ai were worth $157,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings in C3.ai by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 10,647,900 shares of the company’s stock valued at $288,239,000 after purchasing an additional 317,768 shares in the last quarter. Bank of New York Mellon Corp boosted its position in C3.ai by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 771,540 shares of the company’s stock worth $22,344,000 after acquiring an additional 1,929 shares during the last quarter. Raymond James & Associates grew its stake in C3.ai by 11.5% in the 2nd quarter. Raymond James & Associates now owns 201,262 shares of the company’s stock worth $5,829,000 after acquiring an additional 20,753 shares during the period. Swiss National Bank raised its holdings in C3.ai by 1.6% in the 1st quarter. Swiss National Bank now owns 195,200 shares of the company’s stock valued at $5,284,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings 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 purchasing an additional 572 shares during the last quarter. 38.96% of the stock is currently owned by institutional investors and hedge funds.

C3.ai Stock Performance

Shares of NYSE:AI opened at $25.97 on Friday. The company has a market cap of $3.30 billion, a P/E ratio of -11.38 and a beta of 1.80. C3.ai, Inc. has a one year low of $18.85 and a one year high of $38.30. The business’s 50-day simple moving average is $24.83 and its 200 day simple moving average is $25.95.

C3.ai (NYSE:AI) last announced its earnings results on Wednesday, September 4th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.08. The business had revenue of $87.21 million during 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 quarterly revenue was up 20.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.56) earnings per share. Analysts predict that C3.ai, Inc. will post -2.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AI has been the subject of several analyst reports. Wedbush dropped their target price on C3.ai from $40.00 to $30.00 and set an “outperform” rating for the company in a research note 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 research report on Thursday, September 5th. StockNews.com raised shares of C3.ai to a “sell” rating in a research report on Tuesday. Oppenheimer reiterated an “outperform” rating and issued a $40.00 price target on shares of C3.ai in a report on Thursday, September 5th. Finally, Canaccord Genuity Group dropped their price objective on C3.ai from $30.00 to $23.00 and set a “hold” rating for the company in a report on Thursday, September 5th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, C3.ai currently has an average rating of “Hold” and an average price target 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.