Janney Montgomery Scott LLC Invests $785,000 in C3.ai, Inc. (NYSE:AI)

Janney Montgomery Scott LLC acquired a new position in C3.ai, Inc. (NYSE:AI - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 32,390 shares of the company's stock, valued at approximately $785,000.

A number of other large investors have also added to or reduced their stakes in the stock. Swiss National Bank increased its stake in C3.ai by 1.6% in the first quarter. Swiss National Bank now owns 195,200 shares of the company's stock valued at $5,284,000 after acquiring an additional 3,000 shares during the last quarter. ProShare Advisors LLC raised its holdings in shares of C3.ai by 8.4% during the 1st quarter. ProShare Advisors LLC now owns 16,790 shares of the company's stock worth $455,000 after buying an additional 1,300 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of C3.ai by 8.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 22,964 shares of the company's stock worth $622,000 after buying an additional 1,820 shares during the last quarter. Vanguard Group Inc. boosted its stake in 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 buying an additional 317,768 shares in the last quarter. Finally, EP Wealth Advisors LLC grew its position in C3.ai by 6.2% in the first quarter. EP Wealth Advisors LLC now owns 10,239 shares of the company's stock valued at $277,000 after acquiring an additional 600 shares during the last quarter. Institutional investors and hedge funds own 38.96% of the company's stock.

Wall Street Analysts Forecast Growth

AI has been the topic of a number of research analyst reports. JMP Securities restated a "market outperform" rating and issued a $40.00 price target on shares of C3.ai in a research note on Thursday, September 5th. StockNews.com raised shares of C3.ai to a "sell" rating in a research note on Tuesday, November 12th. Piper Sandler dropped their price target on C3.ai from $29.00 to $24.00 and set a "neutral" rating for the company in a research note on Thursday, September 5th. DA Davidson reduced their price objective on C3.ai from $30.00 to $20.00 and set a "neutral" rating on the stock in a research report on Thursday, September 5th. Finally, Morgan Stanley dropped their target price on C3.ai from $23.00 to $21.00 and set an "underweight" rating for the company in a research report on Thursday, September 5th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $27.70.

C3.ai Stock Performance

Shares of NYSE:AI traded up $0.55 during trading on Monday, reaching $26.54. The stock had a trading volume of 2,659,675 shares, compared to its average volume of 5,324,797. C3.ai, Inc. has a 52 week low of $18.85 and a 52 week high of $38.30. The firm's fifty day moving average is $24.92 and its 200 day moving average is $26.02. The stock has a market cap of $3.37 billion, a price-to-earnings ratio of -11.40 and a beta of 1.80.

C3.ai (NYSE:AI - Get Free Report) last issued its quarterly earnings results on Wednesday, September 4th. The company reported ($0.05) earnings per share for the quarter, topping analysts' consensus estimates of ($0.13) by $0.08. The firm had revenue of $87.21 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the business posted ($0.56) EPS. On average, research analysts forecast that C3.ai, Inc. will post -2.31 earnings per share 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.