Nisa Investment Advisors LLC Sells 1,090 Shares of C3.ai, Inc. (NYSE:AI)

Nisa Investment Advisors LLC trimmed its stake in shares of C3.ai, Inc. (NYSE:AI) by 5.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 20,088 shares of the company’s stock after selling 1,090 shares during the quarter. Nisa Investment Advisors LLC’s holdings in C3.ai were worth $577,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of C3.ai by 6.7% during 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 period. International Assets Investment Management LLC bought a new stake in shares of C3.ai during the 4th quarter valued at $25,630,000. Arkadios Wealth Advisors lifted its position in shares of C3.ai by 68.5% during the 4th quarter. Arkadios Wealth Advisors now owns 20,744 shares of the company’s stock valued at $596,000 after acquiring an additional 8,436 shares during the period. Fort Pitt Capital Group LLC acquired a new position in shares of C3.ai during the 3rd quarter worth $204,000. Finally, Raymond James & Associates raised its holdings in shares of C3.ai by 148.3% during the 3rd quarter. Raymond James & Associates now owns 158,943 shares of the company’s stock worth $4,056,000 after buying an additional 94,932 shares in the last quarter. 38.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Canaccord Genuity Group boosted their price target on C3.ai from $27.00 to $31.00 and gave the stock a “hold” rating in a report on Thursday, February 29th. Piper Sandler boosted their price target on C3.ai from $27.00 to $33.00 and gave the stock a “neutral” rating in a report on Monday, March 4th. Bank of America boosted their price target on C3.ai from $18.00 to $20.00 and gave the stock an “underperform” rating in a report on Thursday, February 29th. Finally, Wedbush lowered their price target on C3.ai from $42.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, February 29th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $29.91.

C3.ai Stock Up 0.5 %

Shares of AI opened at $20.60 on Thursday. C3.ai, Inc. has a 12-month low of $16.79 and a 12-month high of $48.87. The business has a 50-day simple moving average of $27.97 and a two-hundred day simple moving average of $27.44. The stock has a market cap of $2.51 billion, a PE ratio of -8.84 and a beta of 1.70.

C3.ai (NYSE:AI) last issued its 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 business had revenue of $78.40 million during the quarter, compared to analysts’ expectations of $75.92 million. On average, equities research analysts expect that C3.ai, Inc. will post -2.48 EPS for the current 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.