Capital Investment Advisory Services LLC Makes New Investment in C3.ai, Inc. (NYSE:AI)

Capital Investment Advisory Services LLC bought a new position in shares of C3.ai, Inc. (NYSE:AI) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,350 shares of the company’s stock, valued at approximately $297,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of C3.ai by 6.7% in the third quarter. Vanguard Group Inc. now owns 10,477,374 shares of the company’s stock valued at $267,383,000 after purchasing an additional 659,986 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in C3.ai by 1.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,199,018 shares of the company’s stock worth $34,424,000 after buying an additional 17,915 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in C3.ai during the third quarter worth about $17,166,000. Charles Schwab Investment Management Inc. grew its position in C3.ai by 9.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 639,976 shares of the company’s stock worth $16,332,000 after buying an additional 54,027 shares in the last quarter. Finally, Swiss National Bank grew its position in C3.ai by 4.1% during the third quarter. Swiss National Bank now owns 209,500 shares of the company’s stock worth $5,346,000 after buying an additional 8,300 shares in the last quarter. 38.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Wedbush decreased their target price on C3.ai from $42.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, February 29th. Bank of America lifted their target price on C3.ai from $18.00 to $20.00 and gave the stock an “underperform” rating in a research report on Thursday, February 29th. Canaccord Genuity Group lifted their price objective on C3.ai from $27.00 to $31.00 and gave the company a “hold” rating in a report on Thursday, February 29th. Finally, Piper Sandler lifted their price objective on C3.ai from $27.00 to $33.00 and gave the company a “neutral” rating in a report on Monday, March 4th. Three analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, C3.ai has an average rating of “Hold” and a consensus target price of $29.91.

C3.ai Trading Up 3.6 %

NYSE AI opened at $22.34 on Wednesday. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of -9.59 and a beta of 1.71. C3.ai, Inc. has a 1-year low of $16.79 and a 1-year high of $48.87. The stock’s 50 day moving average is $27.37 and its two-hundred day moving average is $27.38.

C3.ai (NYSE:AI) last announced its earnings results on Wednesday, February 28th. The company reported ($0.60) EPS for the quarter, topping the consensus estimate of ($0.73) by $0.13. The business had revenue of $78.40 million for the quarter, compared to the consensus estimate of $75.92 million. C3.ai had a negative return on equity of 29.60% and a negative net margin of 95.21%. On average, analysts predict that C3.ai, Inc. will post -2.48 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.