Hodges Capital Management Inc. Makes New Investment in C3.ai, Inc. (NYSE:AI)

Hodges Capital Management Inc. acquired a new position in shares of C3.ai, Inc. (NYSE:AI) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 80,680 shares of the company’s stock, valued at approximately $1,955,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its position in C3.ai by 1.8% during the 3rd quarter. State Street Corp now owns 2,121,391 shares of the company’s stock worth $51,401,000 after purchasing an additional 38,185 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of C3.ai by 21.3% during the 3rd quarter. Janus Henderson Group PLC now owns 52,182 shares of the company’s stock valued at $1,265,000 after buying an additional 9,160 shares during the period. Holocene Advisors LP boosted its stake in shares of C3.ai by 98.4% during the 3rd quarter. Holocene Advisors LP now owns 75,780 shares of the company’s stock valued at $1,836,000 after buying an additional 37,594 shares during the period. PDT Partners LLC acquired a new stake in shares of C3.ai during the 3rd quarter valued at $1,624,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of C3.ai by 7.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,053 shares of the company’s stock valued at $583,000 after buying an additional 1,619 shares during the period. 38.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on AI shares. Wedbush decreased their target price on shares of C3.ai from $40.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. Needham & Company LLC reissued a “hold” rating on shares of C3.ai in a research note on Thursday, September 5th. Morgan Stanley decreased their target price on shares of C3.ai from $23.00 to $21.00 and set an “underweight” rating for the company in a research note on Thursday, September 5th. JMP Securities reaffirmed a “market outperform” rating and issued a $40.00 price objective on shares of C3.ai in a research note on Thursday, September 5th. Finally, StockNews.com raised shares of C3.ai to a “sell” rating in a research note on Tuesday, November 26th. 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 given a strong buy rating to the stock. According to MarketBeat.com, C3.ai has a consensus rating of “Hold” and an average price target of $29.20.

C3.ai Price Performance

C3.ai stock opened at $40.52 on Monday. The firm has a market cap of $5.15 billion, a price-to-earnings ratio of -17.77 and a beta of 2.00. C3.ai, Inc. has a fifty-two week low of $18.85 and a fifty-two week high of $40.65. The firm has a fifty day moving average price of $28.74 and a two-hundred day moving average price of $27.14.

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.