C3.ai, Inc. (NYSE:AI) Holdings Trimmed by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its holdings in C3.ai, Inc. (NYSE:AI) by 36.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,602 shares of the company’s stock after selling 2,108 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in C3.ai were worth $103,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in C3.ai by 6.7% during the 3rd quarter. Vanguard Group Inc. now owns 10,477,374 shares of the company’s stock worth $267,383,000 after acquiring an additional 659,986 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of C3.ai during the 4th quarter valued at $25,630,000. Arkadios Wealth Advisors grew its holdings in shares of C3.ai by 68.5% during the 4th quarter. Arkadios Wealth Advisors now owns 20,744 shares of the company’s stock valued at $596,000 after acquiring an additional 8,436 shares in the last quarter. Fort Pitt Capital Group LLC acquired a new position in shares of C3.ai in the third quarter worth $204,000. Finally, Raymond James & Associates boosted its position in C3.ai by 148.3% during the third quarter. Raymond James & Associates now owns 158,943 shares of the company’s stock valued at $4,056,000 after purchasing an additional 94,932 shares during the last quarter. Institutional investors own 38.96% of the company’s stock.

C3.ai Price Performance

NYSE AI opened at $22.83 on Monday. The company’s fifty day moving average is $26.96 and its two-hundred day moving average is $27.30. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of -9.80 and a beta of 1.70. C3.ai, Inc. has a 52-week low of $16.79 and a 52-week high of $48.87.

C3.ai (NYSE:AI) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.73) by $0.13. The firm had revenue of $78.40 million for the quarter, compared to analyst estimates of $75.92 million. C3.ai had a negative return on equity of 29.60% and a negative net margin of 95.21%. As a group, sell-side analysts expect that C3.ai, Inc. will post -2.48 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AI. Piper Sandler lifted their price target on C3.ai from $27.00 to $33.00 and gave the company a “neutral” rating in a report on Monday, March 4th. Bank of America lifted their price objective on shares of C3.ai from $18.00 to $20.00 and gave the company an “underperform” rating in a research note on Thursday, February 29th. Canaccord Genuity Group raised their target price on C3.ai from $27.00 to $31.00 and gave the company a “hold” rating in a report on Thursday, February 29th. Finally, Wedbush lowered their price objective on C3.ai from $42.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, February 29th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, C3.ai has an average rating of “Hold” and a consensus price target of $31.50.

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.