Arizona State Retirement System increased its holdings in C3.ai, Inc. (NYSE:AI – Free Report) by 13.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 25,954 shares of the company’s stock after buying an additional 3,140 shares during the period. Arizona State Retirement System’s holdings in C3.ai were worth $946,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. boosted its stake in C3.ai by 29.1% during the 3rd quarter. Vanguard Group Inc. now owns 9,042,202 shares of the company’s stock valued at $113,028,000 after purchasing an additional 2,037,342 shares during the period. Two Sigma Investments LP boosted its stake in C3.ai by 2,277.8% during the 1st quarter. Two Sigma Investments LP now owns 1,435,097 shares of the company’s stock valued at $48,176,000 after purchasing an additional 1,374,743 shares during the period. Frontier Capital Management Co. LLC acquired a new position in C3.ai during the 1st quarter valued at about $33,578,000. Renaissance Technologies LLC lifted its stake in shares of C3.ai by 39.3% in the 1st quarter. Renaissance Technologies LLC now owns 2,412,200 shares of the company’s stock worth $54,757,000 after acquiring an additional 680,700 shares during the period. Finally, Spring Creek Capital LLC acquired a new stake in shares of C3.ai in the 1st quarter worth approximately $13,763,000. 38.96% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on the stock. Northland Securities assumed coverage on shares of C3.ai in a research note on Tuesday, July 25th. They issued a “market perform” rating and a $40.00 price target for the company. JMP Securities upped their price target on shares of C3.ai from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, July 24th. Piper Sandler reduced their price target on shares of C3.ai from $29.00 to $28.00 and set a “neutral” rating for the company in a research note on Friday, September 8th. StockNews.com raised shares of C3.ai to a “sell” rating in a research note on Tuesday, October 17th. Finally, Wedbush dropped their target price on shares of C3.ai from $50.00 to $42.00 and set an “outperform” rating on the stock in a report on Thursday, September 7th. Three analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $27.60.
C3.ai Stock Performance
Shares of AI opened at $24.40 on Wednesday. The company’s 50 day moving average price is $26.77 and its 200 day moving average price is $30.50. C3.ai, Inc. has a 52 week low of $10.16 and a 52 week high of $48.87. The company has a market capitalization of $2.88 billion, a PE ratio of -10.43 and a beta of 1.55.
C3.ai (NYSE:AI – Get Free Report) last announced its quarterly earnings data on Wednesday, September 6th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.08. C3.ai had a negative net margin of 99.42% and a negative return on equity of 27.78%. The firm had revenue of $72.36 million for the quarter, compared to the consensus estimate of $71.56 million. During the same period in the previous year, the firm posted ($0.67) earnings per share. The firm’s revenue was up 10.8% on a year-over-year basis. On average, equities analysts forecast that C3.ai, Inc. will post -2.24 earnings per share for the current fiscal year.
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.
Recommended Stories
- Five stocks we like better than C3.ai
- Consumer Discretionary Stocks Explained
- Caterpillar crawls into a new buying opportunity
- Learn Technical Analysis Skills to Master the Stock Market
- Is there merit in these low-beta moat stocks? Analysts say yes
- Investing in Blue-Chip Stocks
- Oil swings have led analysts to recommend these 2 stocks
Receive News & Ratings for C3.ai Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for C3.ai and related companies with MarketBeat.com's FREE daily email newsletter.
