Algert Global LLC Has $1.77 Million Stake in C3.ai, Inc. (NYSE:AI)

Algert Global LLC lifted its position in C3.ai, Inc. (NYSE:AI - Free Report) by 97.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,936 shares of the company's stock after purchasing an additional 35,960 shares during the quarter. Algert Global LLC owned 0.06% of C3.ai worth $1,767,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Global Assets Advisory LLC acquired a new position in shares of C3.ai in the 3rd quarter worth approximately $743,000. Janney Montgomery Scott LLC acquired a new stake in shares of C3.ai in the 3rd quarter valued at $785,000. International Assets Investment Management LLC acquired a new stake in C3.ai during the 3rd quarter valued at $10,560,000. Susquehanna Fundamental Investments LLC bought a new position in C3.ai in the 2nd quarter valued at $3,465,000. Finally, EverSource Wealth Advisors LLC boosted its stake in C3.ai by 4,860.6% in the first 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 in the last quarter. 38.96% of the stock is owned by institutional investors.

C3.ai Stock Performance

NYSE AI traded up $0.03 on Thursday, reaching $36.39. The company had a trading volume of 3,790,303 shares, compared to its average volume of 5,507,482. The company's fifty day moving average is $26.82 and its 200-day moving average is $26.58. The firm has a market capitalization of $4.62 billion, a price-to-earnings ratio of -15.96 and a beta of 1.80. C3.ai, Inc. has a 1-year low of $18.85 and a 1-year high of $39.88.

C3.ai (NYSE:AI - Get Free Report) last posted its quarterly earnings data on Wednesday, September 4th. The company reported ($0.05) earnings per share for the quarter, topping 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%. C3.ai's revenue for the quarter was up 20.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.56) earnings per share. On average, research analysts forecast that C3.ai, Inc. will post -2.31 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on AI shares. Wedbush cut their price target on C3.ai from $40.00 to $30.00 and set an "outperform" rating for the company in a report on Thursday, September 5th. Canaccord Genuity Group decreased their price objective on C3.ai from $30.00 to $23.00 and set a "hold" rating for the company in a research note on Thursday, September 5th. Oppenheimer reissued an "outperform" rating and issued a $40.00 target price on shares of C3.ai in a research note on Thursday, September 5th. StockNews.com upgraded C3.ai to a "sell" rating in a research report on Tuesday. Finally, Piper Sandler Companies restated a "neutral" rating and set a $24.00 price objective on shares of C3.ai in a report on Thursday, September 5th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $27.70.

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.