C3.ai, Inc. (NYSE:AI) Shares Sold by AtonRa Partners

AtonRa Partners lowered its position in C3.ai, Inc. (NYSE:AI) by 12.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,238 shares of the company’s stock after selling 910 shares during the quarter. AtonRa Partners’ holdings in C3.ai were worth $179,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in AI. State Board of Administration of Florida Retirement System increased its position in C3.ai by 3.7% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 17,274 shares of the company’s stock valued at $441,000 after acquiring an additional 610 shares during the period. GPS Wealth Strategies Group LLC raised its stake in shares of C3.ai by 87.9% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 1,351 shares of the company’s stock valued at $39,000 after purchasing an additional 632 shares in the last quarter. EWG Elevate Inc. lifted its holdings in C3.ai by 8.3% in the fourth quarter. EWG Elevate Inc. now owns 8,876 shares of the company’s stock worth $255,000 after purchasing an additional 679 shares during the period. Perigon Wealth Management LLC lifted its holdings in C3.ai by 0.4% in the third quarter. Perigon Wealth Management LLC now owns 186,434 shares of the company’s stock worth $4,758,000 after purchasing an additional 749 shares during the period. Finally, Daiwa Securities Group Inc. grew its position in C3.ai by 2.9% in the 4th quarter. Daiwa Securities Group Inc. now owns 28,478 shares of the company’s stock valued at $818,000 after buying an additional 811 shares in the last quarter. Institutional investors own 38.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AI. Wedbush reduced their price target on shares of C3.ai from $42.00 to $35.00 and set an “overweight” rating for the company in a research note on Thursday, February 29th. Piper Sandler lifted their price target on C3.ai from $27.00 to $33.00 and gave the company a “neutral” rating in a research report on Monday, March 4th. Canaccord Genuity Group upped 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, Bank of America lifted their target price on C3.ai from $18.00 to $20.00 and gave the stock an “underperform” rating in a report on Thursday, February 29th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $31.50.

C3.ai Price Performance

NYSE:AI traded down $0.22 during midday trading on Tuesday, reaching $22.88. The stock had a trading volume of 916,317 shares, compared to its average volume of 7,072,898. The stock has a market capitalization of $2.79 billion, a P/E ratio of -9.91 and a beta of 1.71. C3.ai, Inc. has a 1-year low of $16.79 and a 1-year high of $48.87. The firm’s fifty day simple moving average is $26.85 and its 200-day simple moving average is $27.28.

C3.ai (NYSE:AI) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $75.92 million. On average, equities research analysts anticipate that C3.ai, Inc. will post -2.48 earnings per share for the current fiscal year.

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.