International Assets Investment Management LLC Makes New Investment in C3.ai, Inc. (NYSE:AI)

International Assets Investment Management LLC purchased a new stake in C3.ai, Inc. (NYSE:AI) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 89,288 shares of the company’s stock, valued at approximately $25,630,000. International Assets Investment Management LLC owned approximately 0.07% of C3.ai at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in C3.ai by 6.7% in the third quarter. Vanguard Group Inc. now owns 10,477,374 shares of the company’s stock valued at $267,383,000 after buying an additional 659,986 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in C3.ai by 1.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,199,018 shares of the company’s stock worth $34,424,000 after acquiring an additional 17,915 shares during the last quarter. Qube Research & Technologies Ltd acquired a new position in C3.ai in the 3rd quarter worth about $17,166,000. Charles Schwab Investment Management Inc. raised its position in C3.ai by 9.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 639,976 shares of the company’s stock valued at $16,332,000 after purchasing an additional 54,027 shares during the last quarter. Finally, Swiss National Bank boosted its stake in shares of C3.ai by 4.1% during the third quarter. Swiss National Bank now owns 209,500 shares of the company’s stock valued at $5,346,000 after purchasing an additional 8,300 shares in the last quarter. 38.96% of the stock is owned by institutional investors.

C3.ai Trading Up 3.9 %

AI stock opened at $24.05 on Friday. The firm has a market cap of $2.94 billion, a PE ratio of -10.32 and a beta of 1.74. The stock has a 50-day moving average price of $26.57 and a 200-day moving average price of $27.20. C3.ai, Inc. has a 1-year low of $17.15 and a 1-year high of $48.87.

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

Wall Street Analysts Forecast Growth

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

About C3.ai

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.