32,857 Shares in C3.ai, Inc. (NYSE:AI) Acquired by Global Assets Advisory LLC

Global Assets Advisory LLC purchased a new position in shares of C3.ai, Inc. (NYSE:AI) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 32,857 shares of the company’s stock, valued at approximately $743,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of C3.ai by 3.1% in the first quarter. Vanguard Group Inc. now owns 10,647,900 shares of the company’s stock valued at $288,239,000 after acquiring an additional 317,768 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in C3.ai in the 2nd quarter valued at approximately $3,465,000. Virtu Financial LLC increased its position in C3.ai by 541.6% during the 1st quarter. Virtu Financial LLC now owns 108,720 shares of the company’s stock worth $2,943,000 after purchasing an additional 91,774 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of C3.ai by 679.8% in the 2nd quarter. Hsbc Holdings PLC now owns 87,092 shares of the company’s stock valued at $2,500,000 after buying an additional 75,923 shares during the period. Finally, Evergreen Capital Management LLC purchased a new stake in shares of C3.ai in the second quarter valued at approximately $1,453,000. Hedge funds and other institutional investors own 38.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Oppenheimer restated an “outperform” rating and set a $40.00 target price on shares of C3.ai in a research report on Thursday, September 5th. Piper Sandler Companies restated a “neutral” rating and set a $24.00 target price on shares of C3.ai in a research report on Thursday, September 5th. Piper Sandler reduced their price target on shares of C3.ai from $29.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Canaccord Genuity Group decreased their price target on C3.ai from $30.00 to $23.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. Finally, DA Davidson dropped their price objective on shares of C3.ai from $30.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $27.70.

C3.ai Price Performance

C3.ai stock opened at $24.40 on Thursday. C3.ai, Inc. has a 12 month low of $18.85 and a 12 month high of $38.30. The company has a market cap of $3.05 billion, a price-to-earnings ratio of -10.43 and a beta of 1.81. The stock’s 50-day moving average is $24.04 and its 200-day moving average is $25.52.

C3.ai (NYSE:AI) last released its earnings results on Wednesday, September 4th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.08. The company had revenue of $87.21 million during 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 business’s revenue was up 20.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.56) EPS. Research analysts anticipate that C3.ai, Inc. will post -2.32 EPS for the current year.

C3.ai Company 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.