LGT Group Foundation Makes New $1.43 Million Investment in C3.ai, Inc. (NYSE:AI)

LGT Group Foundation purchased a new position in shares of C3.ai, Inc. (NYSE:AI - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 49,200 shares of the company's stock, valued at approximately $1,425,000.

Other large investors have also recently bought and sold shares of the company. Toth Financial Advisory Corp raised its position in C3.ai by 900.0% in the first quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company's stock worth $27,000 after acquiring an additional 900 shares in the last quarter. Unique Wealth Strategies LLC purchased a new position in C3.ai in the second quarter worth $28,000. Blue Trust Inc. raised its position in C3.ai by 148.9% in the second quarter. Blue Trust Inc. now owns 1,028 shares of the company's stock worth $28,000 after acquiring an additional 615 shares in the last quarter. ICA Group Wealth Management LLC purchased a new position in C3.ai in the fourth quarter worth $29,000. Finally, Hobbs Group Advisors LLC purchased a new position in C3.ai in the second quarter worth $29,000. Hedge funds and other institutional investors own 38.96% of the company's stock.

C3.ai Stock Up 0.5 %

Shares of AI traded up $0.11 during trading hours on Tuesday, reaching $21.50. 3,284,746 shares of the company traded hands, compared to its average volume of 5,948,352. The stock has a market capitalization of $2.68 billion, a PE ratio of -9.15 and a beta of 1.81. C3.ai, Inc. has a fifty-two week low of $18.85 and a fifty-two week high of $38.30. The stock has a fifty day simple moving average of $26.01 and a 200 day simple moving average of $26.60.

C3.ai (NYSE:AI - Get Free Report) last posted its quarterly earnings data on Wednesday, September 4th. The company reported ($0.05) EPS for the quarter, beating analysts' consensus estimates of ($0.13) by $0.08. The business had revenue of $87.21 million for the quarter, compared to analyst estimates 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 for the quarter was up 20.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.56) earnings per share. Research analysts predict that C3.ai, Inc. will post -2.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other C3.ai news, CFO Hitesh Lath sold 3,005 shares of the firm's stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $27.56, for a total value of $82,817.80. Following the sale, the chief financial officer now directly owns 7,390 shares of the company's stock, valued at approximately $203,668.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 34.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Morgan Stanley cut their price objective 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. Northland Capmk upgraded C3.ai from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 30th. JMP Securities restated a "market outperform" rating and issued a $40.00 price target on shares of C3.ai in a research report on Thursday, September 5th. Oppenheimer restated an "outperform" rating and issued a $40.00 price target on shares of C3.ai in a research report on Thursday, September 5th. Finally, DA Davidson dropped their price target on C3.ai from $30.00 to $20.00 and set a "neutral" rating for the company in a research report on Thursday, September 5th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $27.70.

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.