Charles Schwab Investment Management Inc. Grows Position in C3.ai, Inc. (NYSE:AI)

Charles Schwab Investment Management Inc. grew its holdings in C3.ai, Inc. (NYSE:AI - Free Report) by 12.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 844,389 shares of the company's stock after acquiring an additional 92,280 shares during the period. Charles Schwab Investment Management Inc. owned about 0.66% of C3.ai worth $20,460,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AI. Susquehanna Fundamental Investments LLC purchased a new stake in C3.ai in the 2nd quarter worth approximately $3,465,000. Hsbc Holdings PLC boosted its holdings in C3.ai by 679.8% during the second quarter. Hsbc Holdings PLC now owns 87,092 shares of the company's stock worth $2,500,000 after buying an additional 75,923 shares in the last quarter. Evergreen Capital Management LLC acquired a new stake in C3.ai during the second quarter valued at $1,453,000. LGT Group Foundation purchased a new position in C3.ai in the second quarter valued at $1,425,000. Finally, International Assets Investment Management LLC acquired a new position in shares of C3.ai in the third quarter worth about $10,560,000. Institutional investors and hedge funds own 38.96% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. StockNews.com upgraded C3.ai to a "sell" rating in a research report on Tuesday, November 26th. Piper Sandler Companies reaffirmed a "neutral" rating and set a $24.00 target price on shares of C3.ai in a research note on Thursday, September 5th. Piper Sandler dropped their price target on shares of C3.ai from $29.00 to $24.00 and set a "neutral" rating on the stock in a research note on Thursday, September 5th. DA Davidson upped their price objective on shares of C3.ai from $20.00 to $35.00 and gave the stock a "neutral" rating in a research report on Thursday. Finally, JMP Securities reiterated a "market outperform" rating and issued a $40.00 target price on shares of C3.ai in a research report 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, the stock currently has an average rating of "Hold" and a consensus target price of $29.20.

C3.ai Stock Up 8.1 %

AI traded up $3.03 during trading on Friday, reaching $40.52. The company's stock had a trading volume of 13,929,875 shares, compared to its average volume of 6,366,734. The company has a market cap of $5.15 billion, a price-to-earnings ratio of -17.77 and a beta of 2.00. The firm has a fifty day simple moving average of $28.74 and a two-hundred day simple moving average of $27.13. C3.ai, Inc. has a 1 year low of $18.85 and a 1 year high of $40.65.

C3.ai (NYSE:AI - Get Free Report) last announced its quarterly earnings data on Wednesday, September 4th. The company reported ($0.05) EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $87.21 million for the quarter, compared to the consensus estimate of $86.94 million. During the same quarter last year, the business posted ($0.56) earnings per share. The firm's revenue was up 20.5% compared to the same quarter last year. As a group, equities analysts forecast that C3.ai, Inc. will post -2.31 EPS for the current fiscal 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.