Cerity Partners LLC Makes New Investment in C3.ai, Inc. (NYSE:AI)

Cerity Partners LLC purchased a new stake in C3.ai, Inc. (NYSE:AI) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 15,846 shares of the company’s stock, valued at approximately $455,000.

A number of other institutional investors have also made changes to their positions in AI. Qube Research & Technologies Ltd bought a new stake in shares of C3.ai in the 3rd quarter valued at approximately $17,166,000. Vanguard Group Inc. increased its holdings in shares of C3.ai by 6.7% in the 3rd quarter. Vanguard Group Inc. now owns 10,477,374 shares of the company’s stock valued at $267,383,000 after acquiring an additional 659,986 shares during the last quarter. UBS Group AG boosted its position in C3.ai by 405.2% during the 3rd quarter. UBS Group AG now owns 183,159 shares of the company’s stock valued at $4,674,000 after purchasing an additional 243,169 shares during the period. Citigroup Inc. boosted its position in C3.ai by 201.2% during the 3rd quarter. Citigroup Inc. now owns 166,303 shares of the company’s stock valued at $4,244,000 after purchasing an additional 111,095 shares during the period. Finally, Seven Eight Capital LP acquired a new position in C3.ai during the 3rd quarter valued at approximately $2,527,000. 38.96% of the stock is currently owned by institutional investors.

C3.ai Stock Performance

Shares of AI stock opened at $22.17 on Friday. C3.ai, Inc. has a 1 year low of $16.79 and a 1 year high of $48.87. The stock has a fifty day moving average of $27.08 and a two-hundred day moving average of $27.31. The firm has a market capitalization of $2.71 billion, a PE ratio of -9.52 and a beta of 1.70.

C3.ai (NYSE:AI) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.13. C3.ai had a negative return on equity of 29.60% and a negative net margin of 95.21%. The company had revenue of $78.40 million during the quarter, compared to analyst estimates of $75.92 million. Equities research analysts predict that C3.ai, Inc. will post -2.48 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AI. Canaccord Genuity Group boosted their price objective on C3.ai from $27.00 to $31.00 and gave the company a “hold” rating in a research report on Thursday, February 29th. Bank of America boosted their price objective on C3.ai from $18.00 to $20.00 and gave the company an “underperform” rating in a research report on Thursday, February 29th. Wedbush reduced their price objective on C3.ai from $42.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, February 29th. Finally, Piper Sandler boosted their price objective on C3.ai from $27.00 to $33.00 and gave the company a “neutral” rating in a research report on Monday, March 4th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $31.50.

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.