International Assets Investment Management LLC Makes New $25.63 Million Investment in C3.ai, Inc. (NYSE:AI)

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

Several other large investors have also recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of C3.ai by 1.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,199,018 shares of the company’s stock valued at $34,424,000 after acquiring an additional 17,915 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in C3.ai by 229.6% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 3,250 shares of the company’s stock valued at $98,000 after purchasing an additional 2,264 shares during the last quarter. Allworth Financial LP increased its stake in C3.ai by 4,595.7% during the 4th quarter. Allworth Financial LP now owns 33,527 shares of the company’s stock valued at $963,000 after purchasing an additional 32,813 shares in the last quarter. Arkadios Wealth Advisors raised its holdings in C3.ai by 68.5% in the fourth quarter. Arkadios Wealth Advisors now owns 20,744 shares of the company’s stock worth $596,000 after buying an additional 8,436 shares during the last quarter. Finally, Total Clarity Wealth Management Inc. lifted its stake in shares of C3.ai by 28.6% in the fourth quarter. Total Clarity Wealth Management Inc. now owns 25,875 shares of the company’s stock worth $743,000 after buying an additional 5,755 shares in the last quarter. 38.96% of the stock is currently owned by hedge funds and other institutional investors.

C3.ai Stock Performance

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

C3.ai (NYSE:AI) last announced its 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 net margin of 95.21% and a negative return on equity of 29.60%. The company had revenue of $78.40 million during the quarter, compared to analyst estimates of $75.92 million. As a group, sell-side analysts predict that C3.ai, Inc. will post -2.48 EPS for the current fiscal year.

Analyst Ratings Changes

AI has been the subject of several analyst reports. Bank of America raised their price target on shares of C3.ai from $18.00 to $20.00 and gave the company an “underperform” rating in a research report on Thursday, February 29th. 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. 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 research note on Thursday, February 29th. Finally, Wedbush dropped their price objective on C3.ai from $42.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, February 29th. 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price 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.