C3.ai, Inc. (NYSE:AI) Stock Position Lifted by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D grew its position in C3.ai, Inc. (NYSE:AI) by 4.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 81,461 shares of the company’s stock after acquiring an additional 3,708 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in C3.ai were worth $1,974,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. KG&L Capital Management LLC grew its position in shares of C3.ai by 34.6% during the 3rd quarter. KG&L Capital Management LLC now owns 21,468 shares of the company’s stock valued at $520,000 after buying an additional 5,520 shares during the last quarter. Forum Financial Management LP boosted its stake in C3.ai by 12.3% in the third quarter. Forum Financial Management LP now owns 14,484 shares of the company’s stock valued at $351,000 after acquiring an additional 1,591 shares during the period. Janney Montgomery Scott LLC bought a new position in shares of C3.ai during the third quarter valued at approximately $785,000. Arcadia Investment Management Corp MI bought a new position in shares of C3.ai during the third quarter valued at approximately $48,000. Finally, Focus Financial Network Inc. raised its position in shares of C3.ai by 34.5% during the 3rd quarter. Focus Financial Network Inc. now owns 45,293 shares of the company’s stock worth $1,097,000 after purchasing an additional 11,617 shares during the period. 38.96% of the stock is owned by institutional investors and hedge funds.

C3.ai Trading Down 1.5 %

AI stock opened at $25.99 on Monday. The firm’s 50-day moving average is $24.92 and its two-hundred day moving average is $26.00. The company has a market capitalization of $3.30 billion, a price-to-earnings ratio of -11.40 and a beta of 1.80. C3.ai, Inc. has a 52 week low of $18.85 and a 52 week high of $38.30.

C3.ai (NYSE:AI) last announced its earnings results on Wednesday, September 4th. The company reported ($0.05) EPS for the quarter, topping 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 return on equity of 31.28% and a negative net margin of 85.47%. The firm’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.56) earnings per share. On average, equities research analysts predict that C3.ai, Inc. will post -2.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

AI has been the subject of a number of analyst reports. Morgan Stanley reduced their price objective on C3.ai from $23.00 to $21.00 and set an “underweight” rating for the company in a research report on Thursday, September 5th. JMP Securities reissued a “market outperform” rating and set a $40.00 price target on shares of C3.ai in a report on Thursday, September 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a report on Thursday, September 5th. DA Davidson cut their price objective on shares of C3.ai from $30.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Finally, Bank of America decreased their target price on shares of C3.ai from $24.00 to $20.00 and set an “underperform” 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 issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $27.70.

About C3.ai

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.