Sigma Planning Corp Cuts Stake in C3.ai, Inc. (NYSE:AI)

Sigma Planning Corp lessened its stake in C3.ai, Inc. (NYSE:AI) by 31.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 8,346 shares of the company’s stock after selling 3,830 shares during the quarter. Sigma Planning Corp’s holdings in C3.ai were worth $202,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. KG&L Capital Management LLC lifted its position in C3.ai by 34.6% in the 3rd quarter. KG&L Capital Management LLC now owns 21,468 shares of the company’s stock valued at $520,000 after acquiring an additional 5,520 shares in the last quarter. Forum Financial Management LP lifted its holdings in shares of C3.ai by 12.3% during the third quarter. Forum Financial Management LP now owns 14,484 shares of the company’s stock valued at $351,000 after purchasing an additional 1,591 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of C3.ai during the third quarter valued at $785,000. Arcadia Investment Management Corp MI bought a new stake in C3.ai in the 3rd quarter worth about $48,000. Finally, Focus Financial Network Inc. raised its position in C3.ai by 34.5% in the 3rd quarter. Focus Financial Network Inc. now owns 45,293 shares of the company’s stock worth $1,097,000 after buying an additional 11,617 shares during the last quarter. Institutional investors own 38.96% of the company’s stock.

C3.ai Trading Down 1.5 %

C3.ai stock opened at $25.99 on Monday. C3.ai, Inc. has a 12-month low of $18.85 and a 12-month high of $38.30. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of -11.40 and a beta of 1.80. The firm has a 50 day moving average of $24.92 and a 200 day moving average of $26.00.

C3.ai (NYSE:AI) last announced its quarterly earnings data on Wednesday, September 4th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.08. The firm had revenue of $87.21 million for 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 company’s revenue was up 20.5% on a year-over-year basis. During the same period last year, the firm earned ($0.56) EPS. On average, analysts predict that C3.ai, Inc. will post -2.31 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AI. Morgan Stanley reduced their price target on shares of C3.ai from $23.00 to $21.00 and set an “underweight” rating for the company in a research note on Thursday, September 5th. Wedbush cut their target price on shares of C3.ai from $40.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a report on Thursday, September 5th. Bank of America cut their price objective on C3.ai from $24.00 to $20.00 and set an “underperform” rating for the company in a report on Thursday, September 5th. Finally, Oppenheimer reissued an “outperform” rating and issued a $40.00 target price 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 given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, C3.ai has a consensus rating of “Hold” and a consensus price target of $27.70.

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.