89,288 Shares in C3.ai, Inc. (NYSE:AI) Bought by International Assets Investment Management LLC

International Assets Investment Management LLC purchased a new stake in C3.ai, Inc. (NYSE:AI - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. 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.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AI. Vanguard Group Inc. lifted its stake in C3.ai by 6.7% in the 3rd quarter. Vanguard Group Inc. now owns 10,477,374 shares of the company's stock worth $267,383,000 after purchasing an additional 659,986 shares in the last quarter. Fort Pitt Capital Group LLC purchased a new position in C3.ai in the 3rd quarter worth approximately $204,000. Raymond James & Associates lifted its stake in C3.ai by 148.3% in the 3rd quarter. Raymond James & Associates now owns 158,943 shares of the company's stock worth $4,056,000 after purchasing an additional 94,932 shares in the last quarter. Citigroup Inc. lifted its stake in C3.ai by 201.2% in the 3rd quarter. Citigroup Inc. now owns 166,303 shares of the company's stock worth $4,244,000 after purchasing an additional 111,095 shares in the last quarter. Finally, Fortem Financial Group LLC lifted its stake in C3.ai by 79.2% in the 3rd quarter. Fortem Financial Group LLC now owns 26,280 shares of the company's stock worth $671,000 after purchasing an additional 11,617 shares in the last quarter. 38.96% of the stock is owned by hedge funds and other institutional investors.

C3.ai Trading Down 5.3 %

C3.ai stock traded down $1.33 during trading on Wednesday, hitting $23.60. The company had a trading volume of 6,813,275 shares, compared to its average volume of 7,562,003. C3.ai, Inc. has a 1-year low of $16.79 and a 1-year high of $48.87. The company's 50 day simple moving average is $28.35 and its 200-day simple moving average is $27.57. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of -10.22 and a beta of 1.70.

C3.ai (NYSE:AI - Get Free Report) last posted its earnings results on Wednesday, February 28th. The company reported ($0.60) earnings per share for the quarter, beating the consensus estimate of ($0.73) by $0.13. C3.ai had a negative net margin of 95.21% and a negative return on equity of 29.60%. The firm had revenue of $78.40 million during the quarter, compared to the consensus estimate of $75.92 million. As a group, analysts forecast 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 analysts have weighed in on AI shares. Wedbush decreased their target price on shares of C3.ai from $42.00 to $35.00 and set an "overweight" rating on the stock in a research note on Thursday, February 29th. Bank of America raised their target price on shares of C3.ai from $18.00 to $20.00 and gave the stock an "underperform" rating in a research note on Thursday, February 29th. Piper Sandler raised their target price on shares of C3.ai from $27.00 to $33.00 and gave the stock a "neutral" rating in a research note on Monday, March 4th. Finally, Canaccord Genuity Group raised their price target on shares of C3.ai from $27.00 to $31.00 and gave the stock a "hold" rating in a report on Thursday, February 29th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, C3.ai currently has an average rating of "Hold" and an average price target of $29.91.

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.