Global Assets Advisory LLC Invests $743,000 in C3.ai, Inc. (NYSE:AI)

Global Assets Advisory LLC acquired a new position in C3.ai, Inc. (NYSE:AI - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 32,857 shares of the company's stock, valued at approximately $743,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in C3.ai by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 10,647,900 shares of the company's stock worth $288,239,000 after purchasing an additional 317,768 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of C3.ai by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 771,540 shares of the company's stock valued at $22,344,000 after acquiring an additional 1,929 shares during the period. Raymond James & Associates lifted its position in shares of 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 acquiring an additional 20,753 shares in the last quarter. Swiss National Bank boosted its stake in C3.ai by 1.6% in the 1st quarter. Swiss National Bank now owns 195,200 shares of the company's stock worth $5,284,000 after purchasing an additional 3,000 shares during the period. Finally, Rhumbline Advisers grew its position in C3.ai by 0.5% during the 2nd quarter. Rhumbline Advisers now owns 125,344 shares of the company's stock worth $3,630,000 after purchasing an additional 572 shares in the last quarter. 38.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the company. JMP Securities reaffirmed a "market outperform" rating and issued a $40.00 target price on shares of C3.ai in a research report on Thursday, September 5th. DA Davidson lowered their target price on C3.ai from $30.00 to $20.00 and set a "neutral" rating on the stock in a research note on Thursday, September 5th. Canaccord Genuity Group reduced their price target on shares of C3.ai from $30.00 to $23.00 and set a "hold" rating for the company in a research report on Thursday, September 5th. Piper Sandler lowered their price objective on shares of C3.ai from $29.00 to $24.00 and set a "neutral" rating on the stock in a research report on Thursday, September 5th. Finally, Wedbush dropped their price objective on shares of C3.ai from $40.00 to $30.00 and set an "outperform" rating on the stock in a research note on Thursday, September 5th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, C3.ai currently has a consensus rating of "Hold" and a consensus price target of $27.70.

C3.ai Stock Up 2.4 %

Shares of NYSE:AI traded up $0.58 on Thursday, reaching $25.00. The company had a trading volume of 1,854,111 shares, compared to its average volume of 5,513,394. The stock has a market capitalization of $3.12 billion, a P/E ratio of -10.43 and a beta of 1.81. The stock has a 50-day moving average price of $24.04 and a 200 day moving average price of $25.52. C3.ai, Inc. has a twelve month low of $18.85 and a twelve month high of $38.30.

C3.ai (NYSE:AI - Get Free Report) last announced its earnings results on Wednesday, September 4th. The company reported ($0.05) earnings per share (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 during the quarter, compared to analysts' expectations of $86.94 million. During the same quarter in the prior year, the business earned ($0.56) earnings per share. The company's revenue was up 20.5% on a year-over-year basis. On average, sell-side analysts predict 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.