Algert Global LLC Grows Stock Position in C3.ai, Inc. (NYSE:AI)

Algert Global LLC raised its holdings in C3.ai, Inc. (NYSE:AI) by 97.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,936 shares of the company’s stock after buying an additional 35,960 shares during the quarter. Algert Global LLC owned approximately 0.06% of C3.ai worth $1,767,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Global Assets Advisory LLC purchased a new position in shares of C3.ai in the 3rd quarter worth $743,000. Janney Montgomery Scott LLC purchased a new position in shares of C3.ai in the 3rd quarter worth about $785,000. International Assets Investment Management LLC purchased a new position in shares of C3.ai in the 3rd quarter worth about $10,560,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of C3.ai in the 2nd quarter valued at about $3,465,000. Finally, EverSource Wealth Advisors LLC grew 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 worth $865,000 after purchasing an additional 31,302 shares during the period. Institutional investors and hedge funds own 38.96% of the company’s stock.

C3.ai Stock Up 0.1 %

AI stock opened at $36.41 on Thursday. The company has a market capitalization of $4.63 billion, a PE ratio of -15.97 and a beta of 1.80. The stock’s 50 day moving average is $26.82 and its two-hundred day moving average is $26.58. C3.ai, Inc. has a 52-week low of $18.85 and a 52-week high of $39.88.

C3.ai (NYSE:AI) last posted its quarterly 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. The firm had revenue of $87.21 million for the quarter, compared to analysts’ expectations of $86.94 million. C3.ai had a negative net margin of 85.47% and a negative return on equity of 31.28%. The firm’s quarterly revenue was up 20.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.56) earnings per share. As a group, sell-side analysts anticipate that C3.ai, Inc. will post -2.31 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $40.00 price target on shares of C3.ai in a research report on Thursday, September 5th. JMP Securities restated a “market outperform” rating and set a $40.00 target price on shares of C3.ai in a report on Thursday, September 5th. Piper Sandler lowered their price target on C3.ai from $29.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Morgan Stanley cut their price objective on C3.ai from $23.00 to $21.00 and set an “underweight” rating on the stock in a research report on Thursday, September 5th. Finally, Wedbush decreased their target price on C3.ai from $40.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, C3.ai has a consensus rating of “Hold” and a consensus target price of $27.70.

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.