Capital Investment Advisory Services LLC Invests $297,000 in C3.ai, Inc. (NYSE:AI)

Capital Investment Advisory Services LLC bought a new position in C3.ai, Inc. (NYSE:AI) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 10,350 shares of the company’s stock, valued at approximately $297,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Daiwa Securities Group Inc. lifted its stake in shares of C3.ai by 2.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 28,478 shares of the company’s stock worth $818,000 after acquiring an additional 811 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of C3.ai by 43.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,374 shares of the company’s stock worth $614,000 after acquiring an additional 6,491 shares in the last quarter. Perigon Wealth Management LLC lifted its stake in shares of C3.ai by 1.2% in the fourth quarter. Perigon Wealth Management LLC now owns 188,634 shares of the company’s stock worth $5,416,000 after acquiring an additional 2,200 shares in the last quarter. Cerity Partners LLC acquired a new position in shares of C3.ai in the fourth quarter worth about $455,000. Finally, International Assets Investment Management LLC acquired a new position in shares of C3.ai in the fourth quarter worth about $25,630,000. Hedge funds and other institutional investors own 38.96% of the company’s stock.

C3.ai Trading Up 3.6 %

Shares of C3.ai stock opened at $22.34 on Wednesday. The business’s 50 day simple moving average is $27.37 and its 200-day simple moving average is $27.38. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of -9.59 and a beta of 1.71. C3.ai, Inc. has a twelve month low of $16.79 and a twelve month high of $48.87.

C3.ai (NYSE:AI) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.60) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.13. The business had revenue of $78.40 million for the quarter, compared to analysts’ expectations of $75.92 million. C3.ai had a negative return on equity of 29.60% and a negative net margin of 95.21%. Sell-side analysts predict that C3.ai, Inc. will post -2.48 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently commented on AI shares. Canaccord Genuity Group boosted their price target on C3.ai from $27.00 to $31.00 and gave the stock a “hold” rating in a research note on Thursday, February 29th. Bank of America boosted their price target on C3.ai from $18.00 to $20.00 and gave the stock an “underperform” rating in a research note on Thursday, February 29th. Wedbush cut their price objective on C3.ai from $42.00 to $35.00 and set an “overweight” rating on the stock in a research note on Thursday, February 29th. Finally, Piper Sandler upped their price objective on C3.ai from $27.00 to $33.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, C3.ai currently has an average rating of “Hold” and a consensus target price of $29.91.

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.