Susquehanna Fundamental Investments LLC Takes Position in C3.ai, Inc. (NYSE:AI)

Susquehanna Fundamental Investments LLC bought a new position in shares of C3.ai, Inc. (NYSE:AI) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 119,642 shares of the company’s stock, valued at approximately $3,465,000. Susquehanna Fundamental Investments LLC owned 0.10% of C3.ai at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. Principal Financial Group Inc. raised its holdings in shares of C3.ai by 11.7% during the first quarter. Principal Financial Group Inc. now owns 10,703 shares of the company’s stock valued at $290,000 after purchasing an additional 1,119 shares during the period. Global Assets Advisory LLC raised its stake in C3.ai by 2,547.8% during the 1st quarter. Global Assets Advisory LLC now owns 896,676 shares of the company’s stock worth $24,273,000 after buying an additional 862,811 shares during the period. B. Riley Wealth Advisors Inc. bought a new position in C3.ai in the fourth quarter worth approximately $1,012,000. EverSource Wealth Advisors LLC grew its stake in C3.ai by 4,860.6% in the first quarter. EverSource Wealth Advisors LLC now owns 31,946 shares of the company’s stock valued at $865,000 after acquiring an additional 31,302 shares during the period. Finally, GSA Capital Partners LLP acquired a new stake in C3.ai in the first quarter valued at approximately $1,055,000. 38.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on AI shares. Bank of America cut their target price on C3.ai from $24.00 to $20.00 and set an “underperform” rating on the stock in a report on Thursday, September 5th. Needham & Company LLC reiterated a “hold” rating on shares of C3.ai in a report on Thursday, September 5th. Piper Sandler Companies reissued a “neutral” rating and set a $24.00 target price on shares of C3.ai in a research report on Thursday, September 5th. Oppenheimer reaffirmed an “outperform” rating and issued a $40.00 price target on shares of C3.ai in a research report on Thursday, September 5th. Finally, Piper Sandler cut their price target 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. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $27.70.

C3.ai Stock Down 0.6 %

Shares of NYSE AI opened at $24.22 on Monday. The company has a market capitalization of $3.02 billion, a PE ratio of -10.35 and a beta of 1.81. The stock’s 50 day moving average price is $24.29 and its 200-day moving average price is $25.82. C3.ai, Inc. has a twelve month low of $18.85 and a twelve month high of $38.30.

C3.ai (NYSE:AI) last announced its quarterly earnings data on Wednesday, September 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.08. The firm had revenue of $87.21 million during 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 for the quarter was up 20.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.56) EPS. As a group, research analysts expect that C3.ai, Inc. will post -2.32 EPS for the current fiscal 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.