International Assets Investment Management LLC Takes $10.56 Million Position in C3.ai, Inc. (NYSE:AI)

International Assets Investment Management LLC bought a new position in C3.ai, Inc. (NYSE:AI - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 43,590 shares of the company's stock, valued at approximately $10,560,000.

Several other institutional investors have also made changes to their positions in AI. Principal Financial Group Inc. boosted its stake in C3.ai by 11.7% in the 1st quarter. Principal Financial Group Inc. now owns 10,703 shares of the company's stock worth $290,000 after purchasing an additional 1,119 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in shares of C3.ai during the second quarter valued at $3,465,000. EverSource Wealth Advisors LLC grew its holdings in shares of C3.ai by 4,860.6% during the first quarter. EverSource Wealth Advisors LLC now owns 31,946 shares of the company's stock valued at $865,000 after buying an additional 31,302 shares in the last quarter. Algert Global LLC acquired a new position in C3.ai during the second quarter valued at $1,071,000. Finally, GSA Capital Partners LLP purchased a new stake in C3.ai in the 1st quarter worth about $1,055,000. 38.96% of the stock is owned by hedge funds and other institutional investors.

C3.ai Stock Performance

Shares of NYSE AI traded down $1.32 during mid-day trading on Thursday, reaching $24.63. 3,144,625 shares of the company traded hands, compared to its average volume of 5,438,196. The company's fifty day moving average is $24.11 and its two-hundred day moving average is $25.58. 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 market cap of $3.13 billion, a PE ratio of -10.80 and a beta of 1.81.

C3.ai (NYSE:AI - Get Free Report) last announced its quarterly earnings results on Wednesday, September 4th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.08. The company had revenue of $87.21 million for 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 company's revenue for the quarter was up 20.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.56) earnings per share. Research analysts forecast that C3.ai, Inc. will post -2.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AI has been the topic of a number of research reports. Bank of America dropped their target price on C3.ai from $24.00 to $20.00 and set an "underperform" rating on the stock in a report on Thursday, September 5th. Needham & Company LLC reiterated a "hold" rating on shares of C3.ai in a research report on Thursday, September 5th. Canaccord Genuity Group lowered their price target on shares of C3.ai from $30.00 to $23.00 and set a "hold" rating on the stock in a report on Thursday, September 5th. Piper Sandler Companies reissued a "neutral" rating and set a $24.00 price objective on shares of C3.ai in a research report on Thursday, September 5th. Finally, Wedbush lowered their target price on 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 research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $27.70.

C3.ai Company 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.