Victory Capital Management Inc. Has $341,000 Stock Position in C3.ai, Inc. (NYSE:AI)

Victory Capital Management Inc. increased its stake in shares of C3.ai, Inc. (NYSE:AI) by 3.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,078 shares of the company’s stock after acquiring an additional 457 shares during the quarter. Victory Capital Management Inc.’s holdings in C3.ai were worth $341,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. American Century Companies Inc. increased its position in C3.ai by 2.1% during the second quarter. American Century Companies Inc. now owns 21,447 shares of the company’s stock worth $621,000 after acquiring an additional 432 shares during the period. Principal Financial Group Inc. increased its position in C3.ai by 4.3% during the second quarter. Principal Financial Group Inc. now owns 11,165 shares of the company’s stock worth $323,000 after acquiring an additional 462 shares during the period. Forum Financial Management LP increased its position in C3.ai by 4.4% during the second quarter. Forum Financial Management LP now owns 12,893 shares of the company’s stock worth $373,000 after acquiring an additional 539 shares during the period. Rhumbline Advisers increased its position in C3.ai by 0.5% during the second quarter. Rhumbline Advisers now owns 125,344 shares of the company’s stock worth $3,630,000 after acquiring an additional 572 shares during the period. Finally, EP Wealth Advisors LLC increased its position in C3.ai by 5.9% during the second quarter. EP Wealth Advisors LLC now owns 10,840 shares of the company’s stock worth $314,000 after acquiring an additional 601 shares during the period. Institutional investors own 38.96% of the company’s stock.

Analyst Upgrades and Downgrades

AI has been the topic of several analyst reports. Wedbush lowered their price target on shares of C3.ai from $40.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. JMP Securities reissued a “market outperform” rating and issued a $40.00 price target on shares of C3.ai in a report on Thursday, September 5th. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a report on Thursday, September 5th. Piper Sandler lowered their price target on shares of C3.ai from $29.00 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Finally, Bank of America lowered their price target on shares of C3.ai from $24.00 to $20.00 and set an “underperform” rating on the stock in a report on Thursday, September 5th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $27.70.

C3.ai Stock Performance

Shares of NYSE:AI opened at $37.18 on Friday. C3.ai, Inc. has a 52 week low of $18.85 and a 52 week high of $39.88. The company’s fifty day moving average is $27.35 and its 200-day moving average is $26.73. The company has a market capitalization of $4.72 billion, a PE ratio of -16.31 and a beta of 1.80.

C3.ai (NYSE:AI) last issued 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 net margin of 85.47% and a negative return on equity of 31.28%. The firm’s quarterly revenue was up 20.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.56) EPS. On average, analysts forecast that C3.ai, Inc. will post -2.31 EPS for the current 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.