Qsemble Capital Management LP Cuts Stake in C3.ai, Inc. (NYSE:AI)

Qsemble Capital Management LP lowered its holdings in shares of C3.ai, Inc. (NYSE:AI) by 42.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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.

Several other institutional investors have also recently made changes to their positions in the business. JTC Employer Solutions Trustee Ltd purchased a new position in C3.ai during the 3rd quarter valued at approximately $25,000. Unique Wealth Strategies LLC purchased a new position in C3.ai during the 2nd quarter valued at approximately $28,000. Blue Trust Inc. grew its holdings in C3.ai by 148.9% during the 2nd quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock valued at $28,000 after buying an additional 615 shares in the last quarter. Hobbs Group Advisors LLC purchased a new position in C3.ai during the 2nd quarter valued at approximately $29,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in C3.ai by 311.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company’s stock valued at $30,000 after buying an additional 795 shares in the last quarter. Hedge funds and other institutional investors own 38.96% of the company’s stock.

C3.ai Stock Performance

Shares of AI stock opened at $36.41 on Thursday. C3.ai, Inc. has a 52-week low of $18.85 and a 52-week 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. The stock has a 50 day moving average price of $26.82 and a 200 day moving average price of $26.58.

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 analysts’ consensus estimates 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 firm had revenue of $87.21 million during the quarter, compared to analyst estimates of $86.94 million. During the same period last year, the company earned ($0.56) EPS. C3.ai’s quarterly revenue was up 20.5% compared to the same quarter last year. As a group, sell-side analysts forecast that C3.ai, Inc. will post -2.31 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on AI. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a report on Thursday, September 5th. Piper Sandler lowered their price objective on C3.ai from $29.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. StockNews.com raised C3.ai to a “sell” rating in a research note on Tuesday. Wedbush lowered their price objective on C3.ai from $40.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. Finally, Morgan Stanley lowered their price objective on C3.ai from $23.00 to $21.00 and set an “underweight” rating for the company in a research note on Thursday, September 5th. Three research analysts have rated the stock with a sell rating, five have assigned 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.com, the company currently has a consensus rating of “Hold” and an average 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.