C3.ai, Inc. (NYSE:AI) Shares Acquired by Forum Financial Management LP

Forum Financial Management LP grew its holdings in C3.ai, Inc. (NYSE:AI) by 12.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,484 shares of the company’s stock after purchasing an additional 1,591 shares during the period. Forum Financial Management LP’s holdings in C3.ai were worth $351,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of AI. JTC Employer Solutions Trustee Ltd acquired a new position in C3.ai during the 3rd quarter worth about $25,000. Unique Wealth Strategies LLC acquired a new position in C3.ai during the 2nd quarter worth about $28,000. Blue Trust Inc. lifted its stake in C3.ai by 148.9% during the 2nd quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock worth $28,000 after acquiring an additional 615 shares in the last quarter. Hobbs Group Advisors LLC acquired a new position in C3.ai during the 2nd quarter worth about $29,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in C3.ai by 311.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company’s stock worth $30,000 after acquiring an additional 795 shares in the last quarter. Institutional investors and hedge funds own 38.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AI shares. Canaccord Genuity Group decreased 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. Morgan Stanley decreased their target price on C3.ai from $23.00 to $21.00 and set an “underweight” rating on the stock in a research note on Thursday, September 5th. DA Davidson cut their price target on C3.ai from $30.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Wedbush cut their price target on C3.ai from $40.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. Finally, Needham & Company LLC restated a “hold” rating on shares of C3.ai in a report on Thursday, September 5th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, C3.ai presently has a consensus rating of “Hold” and an average target price of $27.70.

C3.ai Stock Performance

AI opened at $24.84 on Tuesday. C3.ai, Inc. has a one year low of $18.85 and a one year high of $38.30. The company has a market cap of $3.16 billion, a P/E ratio of -10.89 and a beta of 1.80. The business’s 50-day simple moving average is $24.13 and its 200-day simple moving average is $25.71.

C3.ai (NYSE:AI) last released its quarterly earnings data 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 return on equity of 31.28% and a negative net margin of 85.47%. The business had revenue of $87.21 million for the quarter, compared to the consensus estimate of $86.94 million. During the same quarter in the prior year, the business posted ($0.56) EPS. The business’s revenue for the quarter was up 20.5% on a year-over-year basis. As a group, analysts predict that C3.ai, Inc. will post -2.31 earnings per share for the current fiscal year.

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.