Beck Bode LLC Sells 704 Shares of C3.ai, Inc. (NYSE:AI)

Beck Bode LLC decreased its position in shares of C3.ai, Inc. (NYSE:AI) by 7.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,463 shares of the company’s stock after selling 704 shares during the period. Beck Bode LLC’s holdings in C3.ai were worth $308,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AI. Vanguard Group Inc. raised its stake in C3.ai by 29.1% during the 3rd quarter. Vanguard Group Inc. now owns 9,042,202 shares of the company’s stock worth $113,028,000 after acquiring an additional 2,037,342 shares during the period. Two Sigma Investments LP grew its holdings in C3.ai by 2,277.8% during the 1st quarter. Two Sigma Investments LP now owns 1,435,097 shares of the company’s stock valued at $48,176,000 after buying an additional 1,374,743 shares in the last quarter. Frontier Capital Management Co. LLC purchased a new stake in C3.ai during the 1st quarter valued at approximately $33,578,000. Renaissance Technologies LLC grew its holdings in C3.ai by 39.3% during the 1st quarter. Renaissance Technologies LLC now owns 2,412,200 shares of the company’s stock valued at $54,757,000 after buying an additional 680,700 shares in the last quarter. Finally, Spring Creek Capital LLC purchased a new stake in C3.ai during the 1st quarter valued at approximately $13,763,000. Institutional investors own 38.96% of the company’s stock.

C3.ai Stock Performance

NYSE AI traded down $0.95 on Thursday, hitting $29.04. 2,828,254 shares of the stock were exchanged, compared to its average volume of 19,260,590. The stock has a fifty day moving average price of $26.03 and a two-hundred day moving average price of $31.01. The firm has a market capitalization of $3.43 billion, a P/E ratio of -12.82 and a beta of 1.54. C3.ai, Inc. has a 52-week low of $10.16 and a 52-week high of $48.87.

C3.ai (NYSE:AI) last posted its quarterly earnings data on Wednesday, September 6th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.08. The company had revenue of $72.36 million during the quarter, compared to analyst estimates of $71.56 million. C3.ai had a negative net margin of 99.42% and a negative return on equity of 27.78%. C3.ai’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.67) earnings per share. Sell-side analysts expect that C3.ai, Inc. will post -2.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Northland Securities assumed coverage on shares of C3.ai in a report on Tuesday, July 25th. They set a “market perform” rating and a $40.00 price objective for the company. Piper Sandler cut their price objective on shares of C3.ai from $29.00 to $28.00 and set a “neutral” rating for the company in a report on Friday, September 8th. Piper Sandler Companies cut their price objective on shares of C3.ai from $29.00 to $28.00 and set a “neutral” rating for the company in a report on Friday, September 8th. StockNews.com raised shares of C3.ai to a “sell” rating in a report on Tuesday, November 7th. Finally, Wedbush cut their price objective on shares of C3.ai from $50.00 to $42.00 and set an “outperform” rating for the company in a report on Thursday, September 7th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, C3.ai has an average rating of “Hold” and an average price target of $27.60.

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.