C3.ai, Inc. (NYSE:AI) Stake Boosted by Algert Global LLC

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

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Global Assets Advisory LLC acquired a new position in shares of C3.ai in the 3rd quarter valued at about $743,000. Janney Montgomery Scott LLC bought a new position in C3.ai in the third quarter worth about $785,000. International Assets Investment Management LLC acquired a new position in C3.ai in the third quarter valued at approximately $10,560,000. Susquehanna Fundamental Investments LLC bought a new position in shares of C3.ai during the second quarter valued at approximately $3,465,000. Finally, EverSource Wealth Advisors LLC raised its position 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. 38.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Piper Sandler Companies restated a “neutral” rating and set a $24.00 price objective on shares of C3.ai in a research report on Thursday, September 5th. Canaccord Genuity Group lowered their price target on shares of C3.ai from $30.00 to $23.00 and set a “hold” rating for the company in a research report on Thursday, September 5th. Oppenheimer reaffirmed an “outperform” rating and issued a $40.00 price objective on shares of C3.ai in a report on Thursday, September 5th. Morgan Stanley reduced their target price on shares of C3.ai from $23.00 to $21.00 and set an “underweight” rating for the company in a research note on Thursday, September 5th. Finally, DA Davidson dropped their price target on shares of C3.ai from $30.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $27.70.

C3.ai Price Performance

Shares of NYSE:AI opened at $36.41 on Thursday. The stock’s 50 day moving average price is $26.82 and its 200 day moving average price is $26.58. The stock has a market cap of $4.63 billion, a price-to-earnings ratio of -15.97 and a beta of 1.80. C3.ai, Inc. has a 12 month low of $18.85 and a 12 month high of $39.88.

C3.ai (NYSE:AI) last announced its quarterly earnings data on Wednesday, September 4th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.08. C3.ai had a negative return on equity of 31.28% and a negative net margin of 85.47%. The business had revenue of $87.21 million during the quarter, compared to analyst estimates of $86.94 million. During the same quarter in the prior year, the firm posted ($0.56) earnings per share. The company’s revenue was up 20.5% on a year-over-year basis. On average, sell-side analysts expect that C3.ai, Inc. will post -2.31 EPS 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.