Qsemble Capital Management LP Lowers Holdings in C3.ai, Inc. (NYSE:AI)

Qsemble Capital Management LP trimmed its position in C3.ai, Inc. (NYSE:AI) by 42.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,271 shares of the company’s stock after selling 9,937 shares during the quarter. Qsemble Capital Management LP’s holdings in C3.ai were worth $322,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Hobbs Group Advisors LLC purchased a new stake in shares of C3.ai in the 2nd quarter worth $29,000. Unique Wealth Strategies LLC purchased a new stake in shares of C3.ai in the 2nd quarter worth $28,000. Blue Trust Inc. lifted its holdings 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 worth $28,000 after buying an additional 615 shares during the period. JTC Employer Solutions Trustee Ltd purchased a new stake in shares of C3.ai in the 3rd quarter worth $25,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of 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 buying an additional 795 shares during the period. 38.96% of the stock is currently owned by hedge funds and other institutional investors.

C3.ai Price Performance

Shares of NYSE:AI opened at $36.41 on Thursday. The business’s 50-day moving average is $26.82 and its 200 day moving average is $26.58. C3.ai, Inc. has a 1 year low of $18.85 and a 1 year high of $39.88. The firm has a market capitalization of $4.63 billion, a P/E ratio of -15.97 and a beta of 1.80.

C3.ai (NYSE:AI) last announced its earnings results on Wednesday, September 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $87.21 million for the quarter, compared to analyst estimates of $86.94 million. During the same period in the prior year, the company posted ($0.56) EPS. The firm’s quarterly revenue was up 20.5% compared to the same quarter last year. On average, analysts expect that C3.ai, Inc. will post -2.31 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AI. Canaccord Genuity Group reduced their price target on C3.ai from $30.00 to $23.00 and set a “hold” rating for the company in a research report on Thursday, September 5th. StockNews.com raised C3.ai to a “sell” rating in a research report on Tuesday. Piper Sandler Companies reissued a “neutral” rating and issued a $24.00 price target on shares of C3.ai in a research report on Thursday, September 5th. Bank of America reduced their price target on C3.ai from $24.00 to $20.00 and set an “underperform” rating for the company in a research report on Thursday, September 5th. Finally, JMP Securities reissued a “market outperform” rating and issued a $40.00 price target on shares of C3.ai in a research report on Thursday, September 5th. Three 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. Based on data from MarketBeat.com, C3.ai presently has a consensus rating of “Hold” and an average target price 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.