C3.ai, Inc. (NYSE:AI) Shares Sold by Huntington National Bank

Huntington National Bank lowered its stake in C3.ai, Inc. (NYSE:AI) by 24.8% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,300 shares of the company’s stock after selling 428 shares during the quarter. Huntington National Bank’s holdings in C3.ai were worth $31,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. JTC Employer Solutions Trustee Ltd purchased a new stake in C3.ai during the third quarter valued at about $25,000. Unique Wealth Strategies LLC acquired a new stake in shares of C3.ai in the second quarter worth $28,000. Blue Trust Inc. raised its stake in shares of C3.ai by 148.9% in the 2nd quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock valued at $28,000 after acquiring an additional 615 shares during the period. Hobbs Group Advisors LLC acquired a new position in shares of C3.ai during the 2nd quarter valued at $29,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in C3.ai by 311.8% in 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 during the period. Institutional investors and hedge funds own 38.96% of the company’s stock.

C3.ai Stock Up 24.5 %

AI opened at $33.03 on Wednesday. The company’s 50-day moving average price is $25.03 and its 200 day moving average price is $26.04. C3.ai, Inc. has a fifty-two week low of $18.85 and a fifty-two week high of $38.30. The firm has a market cap of $4.20 billion, a price-to-earnings ratio of -14.49 and a beta of 1.80.

C3.ai (NYSE:AI) last announced its quarterly earnings results on Wednesday, September 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.08. The business had revenue of $87.21 million for the quarter, compared to the consensus estimate of $86.94 million. C3.ai had a negative return on equity of 31.28% and a negative net margin of 85.47%. The business’s revenue was up 20.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.56) EPS. Research analysts anticipate that C3.ai, Inc. will post -2.31 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on AI. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a report on Thursday, September 5th. Piper Sandler Companies restated a “neutral” rating and set a $24.00 target price on shares of C3.ai in a research note on Thursday, September 5th. Morgan Stanley cut their price target 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. Bank of America dropped their price objective on C3.ai from $24.00 to $20.00 and set an “underperform” rating on the stock in a report on Thursday, September 5th. Finally, Wedbush decreased their price target 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. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price 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.