International Assets Investment Management LLC Takes Position in C3.ai, Inc. (NYSE:AI)

International Assets Investment Management LLC acquired a new stake in C3.ai, Inc. (NYSE:AI) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 43,590 shares of the company’s stock, valued at approximately $10,560,000.

Several other hedge funds and other institutional investors have also modified their holdings of AI. Principal Financial Group Inc. lifted its position in C3.ai by 11.7% during the 1st quarter. Principal Financial Group Inc. now owns 10,703 shares of the company’s stock worth $290,000 after acquiring an additional 1,119 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in C3.ai by 19.0% during the 1st quarter. Commonwealth Equity Services LLC now owns 62,200 shares of the company’s stock worth $1,684,000 after acquiring an additional 9,912 shares in the last quarter. Fortem Financial Group LLC lifted its position in C3.ai by 4.2% during the 1st quarter. Fortem Financial Group LLC now owns 36,901 shares of the company’s stock worth $999,000 after acquiring an additional 1,500 shares in the last quarter. Mutual of America Capital Management LLC lifted its position in C3.ai by 5.4% during the 1st quarter. Mutual of America Capital Management LLC now owns 89,529 shares of the company’s stock worth $2,424,000 after acquiring an additional 4,592 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in C3.ai during the 1st quarter worth approximately $1,055,000. 38.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research report on Thursday, September 5th. Wedbush cut their target price on C3.ai from $40.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. 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 research report on Thursday, September 5th. Oppenheimer reaffirmed an “outperform” rating and issued a $40.00 target price on shares of C3.ai in a research report on Thursday, September 5th. Finally, Piper Sandler cut their target price on C3.ai from $29.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $27.70.

C3.ai Trading Down 1.6 %

Shares of NYSE AI opened at $25.94 on Thursday. C3.ai, Inc. has a twelve month low of $18.85 and a twelve month high of $38.30. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of -11.09 and a beta of 1.81. The business has a 50 day simple moving average of $24.10 and a 200-day simple moving average of $25.58.

C3.ai (NYSE:AI) last issued its quarterly earnings data on Wednesday, September 4th. The company reported ($0.05) EPS for the quarter, topping 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 firm’s revenue was up 20.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.56) EPS. As a group, equities analysts predict that C3.ai, Inc. will post -2.32 earnings per share for the current year.

C3.ai 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.