SG Americas Securities LLC Acquires 26,063 Shares of C3.ai, Inc. (NYSE:AI)

SG Americas Securities LLC boosted its stake in shares of C3.ai, Inc. (NYSE:AI - Free Report) by 238.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 36,976 shares of the company's stock after purchasing an additional 26,063 shares during the period. SG Americas Securities LLC's holdings in C3.ai were worth $896,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of AI. Vanguard Group Inc. lifted its stake in shares of C3.ai by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 10,647,900 shares of the company's stock worth $288,239,000 after buying an additional 317,768 shares during the last quarter. Global Assets Advisory LLC increased its stake in shares of C3.ai by 2,547.8% during the first quarter. Global Assets Advisory LLC now owns 896,676 shares of the company's stock worth $24,273,000 after purchasing an additional 862,811 shares during the period. Bank of New York Mellon Corp lifted its holdings in C3.ai by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 771,540 shares of the company's stock worth $22,344,000 after purchasing an additional 1,929 shares during the last quarter. Raymond James & Associates boosted its stake in C3.ai by 11.5% in the 2nd quarter. Raymond James & Associates now owns 201,262 shares of the company's stock valued at $5,829,000 after purchasing an additional 20,753 shares during the period. Finally, Swiss National Bank grew its holdings in C3.ai by 1.6% in the 1st quarter. Swiss National Bank now owns 195,200 shares of the company's stock valued at $5,284,000 after buying an additional 3,000 shares in the last quarter. 38.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on AI shares. DA Davidson cut their target price 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. Oppenheimer reiterated an "outperform" rating and issued a $40.00 price target on shares of C3.ai in a report on Thursday, September 5th. Bank of America decreased their price objective on C3.ai from $24.00 to $20.00 and set an "underperform" rating for the company in a report on Thursday, September 5th. Wedbush cut their target price on C3.ai from $40.00 to $30.00 and set an "outperform" rating on the stock in a report on Thursday, September 5th. Finally, Needham & Company LLC restated a "hold" rating on shares of C3.ai in a research note on Thursday, September 5th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, C3.ai currently has an average rating of "Hold" and an average price target of $27.70.

C3.ai Stock Performance

NYSE:AI traded up $1.01 during trading hours on Friday, reaching $27.24. The stock had a trading volume of 5,986,279 shares, compared to its average volume of 5,649,253. The stock has a market cap of $3.40 billion, a P/E ratio of -11.64 and a beta of 1.81. The stock has a 50 day simple moving average of $23.82 and a 200 day simple moving average of $25.55. C3.ai, Inc. has a 12-month low of $18.85 and a 12-month high of $38.30.

C3.ai (NYSE:AI - Get Free Report) last posted its earnings results on Wednesday, September 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate 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 in the prior year, the business posted ($0.56) earnings per share. The business's quarterly revenue was up 20.5% on a year-over-year basis. On average, equities analysts expect that C3.ai, Inc. will post -2.32 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.