10,300 Shares in C3.ai, Inc. (NYSE:AI) Acquired by BIP Wealth LLC

BIP Wealth LLC bought a new stake in shares of C3.ai, Inc. (NYSE:AI) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 10,300 shares of the company’s stock, valued at approximately $250,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AI. Hobbs Group Advisors LLC purchased a new stake in shares of C3.ai in the 2nd quarter worth $29,000. Unique Wealth Strategies LLC bought a new position in shares of C3.ai in the second quarter worth about $28,000. Blue Trust Inc. lifted its position in shares of C3.ai by 148.9% during the 2nd quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock valued at $28,000 after buying an additional 615 shares in the last quarter. JTC Employer Solutions Trustee Ltd bought a new position in shares of C3.ai during the 3rd quarter valued at approximately $25,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in C3.ai by 311.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,050 shares of the company’s stock worth $30,000 after acquiring an additional 795 shares in the last quarter. 38.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AI shares. Bank of America reduced their price objective on shares of C3.ai from $24.00 to $20.00 and set an “underperform” rating for the company in a research note on Thursday, September 5th. JMP Securities reissued a “market outperform” rating and set a $40.00 price target on shares of C3.ai in a report on Thursday, September 5th. Oppenheimer reaffirmed an “outperform” rating and issued a $40.00 price objective on shares of C3.ai in a research note on Thursday, September 5th. Piper Sandler Companies reissued a “neutral” rating and issued a $24.00 price target on shares of C3.ai in a report on Thursday, September 5th. Finally, Piper Sandler cut their price objective on shares of C3.ai from $29.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, C3.ai presently has a consensus rating of “Hold” and an average target price of $27.70.

C3.ai Stock Up 24.5 %

AI stock opened at $33.03 on Wednesday. The firm has a market capitalization of $4.20 billion, a P/E ratio of -14.49 and a beta of 1.80. C3.ai, Inc. has a 52 week low of $18.85 and a 52 week high of $38.30. The company has a fifty day simple moving average of $25.03 and a two-hundred day simple moving average of $26.04.

C3.ai (NYSE:AI) last posted its quarterly earnings data on Wednesday, September 4th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.08. The company had revenue of $87.21 million for the quarter, compared to analyst estimates of $86.94 million. C3.ai had a negative net margin of 85.47% and a negative return on equity of 31.28%. The firm’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.56) EPS. As a group, analysts anticipate that C3.ai, Inc. will post -2.31 EPS for the current year.

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.