KBC Group NV Boosts Stake in C3.ai, Inc. (NYSE:AI)

KBC Group NV grew its position in shares of C3.ai, Inc. (NYSE:AI) by 37.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,593 shares of the company’s stock after acquiring an additional 971 shares during the period. KBC Group NV’s holdings in C3.ai were worth $87,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Global Assets Advisory LLC acquired a new stake in C3.ai during the 3rd quarter worth approximately $743,000. Janney Montgomery Scott LLC purchased a new stake in C3.ai during the third quarter worth approximately $785,000. International Assets Investment Management LLC acquired a new stake in shares of C3.ai in the third quarter worth $10,560,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of C3.ai in the 2nd quarter valued at $3,465,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of C3.ai by 4,860.6% during the 1st 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 in the last quarter. 38.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on AI shares. DA Davidson cut their price objective on C3.ai from $30.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. StockNews.com upgraded C3.ai to a “sell” rating in a report on Tuesday, November 12th. Wedbush decreased their price target on C3.ai from $40.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. JMP Securities reiterated a “market outperform” rating and set a $40.00 price objective on shares of C3.ai in a research note on Thursday, September 5th. Finally, Oppenheimer restated an “outperform” rating and issued a $40.00 target price on shares of C3.ai 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 issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $27.70.

C3.ai Price Performance

AI opened at $37.43 on Friday. C3.ai, Inc. has a 12-month low of $18.85 and a 12-month high of $38.30. The stock has a market capitalization of $4.75 billion, a PE ratio of -15.32 and a beta of 1.80. The firm’s fifty day moving average price is $25.72 and its 200 day moving average price is $26.21.

C3.ai (NYSE:AI) last issued its earnings results 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 business had revenue of $87.21 million for the quarter, compared to analyst estimates of $86.94 million. C3.ai had a negative net margin of 85.47% and a negative return on equity of 31.28%. The company’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.56) EPS. On average, equities research analysts forecast that C3.ai, Inc. will post -2.31 earnings per share for the current fiscal 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.