Mutual of America Capital Management LLC Decreases Stock Holdings in C3.ai, Inc. (NYSE:AI)

Mutual of America Capital Management LLC trimmed its position in shares of C3.ai, Inc. (NYSE:AI) by 3.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,937 shares of the company’s stock after selling 2,879 shares during the period. Mutual of America Capital Management LLC owned approximately 0.07% of C3.ai worth $2,439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in C3.ai by 98.8% during the 1st quarter. JPMorgan Chase & Co. now owns 83,970 shares of the company’s stock valued at $1,907,000 after buying an additional 41,723 shares during the period. Raymond James & Associates raised its holdings in C3.ai by 27.9% during the 1st quarter. Raymond James & Associates now owns 93,029 shares of the company’s stock valued at $2,112,000 after buying an additional 20,295 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in C3.ai by 33.2% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 20,167 shares of the company’s stock valued at $458,000 after buying an additional 5,025 shares during the period. Bank of New York Mellon Corp raised its holdings in C3.ai by 4.7% during the 1st quarter. Bank of New York Mellon Corp now owns 742,737 shares of the company’s stock valued at $16,861,000 after buying an additional 33,060 shares during the period. Finally, MetLife Investment Management LLC purchased a new stake in C3.ai during the 1st quarter valued at $44,000. 38.96% of the stock is owned by hedge funds and other institutional investors.

C3.ai Trading Down 0.7 %

AI opened at $20.72 on Friday. C3.ai, Inc. has a 12-month low of $16.79 and a 12-month high of $48.87. The business’s fifty day simple moving average is $27.69 and its 200-day simple moving average is $27.37. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of -8.89 and a beta of 1.70.

C3.ai (NYSE:AI) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.13. C3.ai had a negative return on equity of 29.60% and a negative net margin of 95.21%. The business had revenue of $78.40 million for the quarter, compared to the consensus estimate of $75.92 million. On average, equities research analysts predict that C3.ai, Inc. will post -2.48 EPS for the current year.

Analyst Upgrades and Downgrades

AI has been the topic of several recent research reports. Bank of America increased their price target on C3.ai from $18.00 to $20.00 and gave the company an “underperform” rating in a report on Thursday, February 29th. Piper Sandler upped their price objective on C3.ai from $27.00 to $33.00 and gave the company a “neutral” rating in a research report on Monday, March 4th. Wedbush cut their price objective on C3.ai from $42.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, February 29th. Finally, Canaccord Genuity Group upped their price objective on C3.ai from $27.00 to $31.00 and gave the company a “hold” rating in a research report on Thursday, February 29th. Three analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, C3.ai has a consensus rating of “Hold” and an average price target of $29.91.

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.