Pittenger & Anderson Inc. Buys Shares of 1,500 C3.ai, Inc. (NYSE:AI)

Pittenger & Anderson Inc. purchased a new position in C3.ai, Inc. (NYSE:AI) during the fourth quarter, Holdings Channel reports. The fund purchased 1,500 shares of the company’s stock, valued at approximately $43,000.

Other hedge funds also recently made changes to their positions in the company. Atria Wealth Solutions Inc. purchased a new position in shares of C3.ai during the fourth quarter valued at approximately $202,000. New York State Common Retirement Fund increased its position in C3.ai by 32.6% during the 4th quarter. New York State Common Retirement Fund now owns 33,135 shares of the company’s stock valued at $951,000 after purchasing an additional 8,141 shares during the period. Capital Investment Advisory Services LLC bought a new position in C3.ai in the 4th quarter worth $297,000. Daiwa Securities Group Inc. lifted its position in shares of C3.ai by 2.9% in the 4th quarter. Daiwa Securities Group Inc. now owns 28,478 shares of the company’s stock worth $818,000 after purchasing an additional 811 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of C3.ai by 43.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,374 shares of the company’s stock valued at $614,000 after purchasing an additional 6,491 shares in the last quarter. 38.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the company. 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 report on Thursday, February 29th. Wedbush decreased their target price on C3.ai from $42.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, February 29th. Canaccord Genuity Group upped their target price on shares of C3.ai from $27.00 to $31.00 and gave the stock a “hold” rating in a report on Thursday, February 29th. Finally, Piper Sandler upped their price target on C3.ai from $27.00 to $33.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, C3.ai currently has an average rating of “Hold” and a consensus price target of $31.50.

C3.ai Stock Performance

NYSE AI traded up $0.49 during mid-day trading on Friday, reaching $22.65. 2,425,680 shares of the stock were exchanged, compared to its average volume of 7,171,740. C3.ai, Inc. has a 1 year low of $16.79 and a 1 year high of $48.87. The business’s 50 day moving average is $27.08 and its 200-day moving average is $27.31.

C3.ai (NYSE:AI) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.60) EPS for the quarter, topping the consensus estimate of ($0.73) by $0.13. The company had revenue of $78.40 million during the quarter, compared to analyst estimates 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, research 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.