BIP Wealth LLC Buys Shares of 10,300 C3.ai, Inc. (NYSE:AI)

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

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. American Century Companies Inc. boosted its stake in C3.ai by 2.1% in the second quarter. American Century Companies Inc. now owns 21,447 shares of the company’s stock valued at $621,000 after acquiring an additional 432 shares in the last quarter. Victory Capital Management Inc. increased its position in C3.ai by 3.4% during the 3rd quarter. Victory Capital Management Inc. now owns 14,078 shares of the company’s stock valued at $341,000 after buying an additional 457 shares in the last quarter. Principal Financial Group Inc. raised its stake in C3.ai by 4.3% in the second quarter. Principal Financial Group Inc. now owns 11,165 shares of the company’s stock valued at $323,000 after buying an additional 462 shares during the last quarter. Forum Financial Management LP boosted its holdings in C3.ai by 4.4% in the second quarter. Forum Financial Management LP now owns 12,893 shares of the company’s stock worth $373,000 after acquiring an additional 539 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in C3.ai by 0.5% in the second quarter. Rhumbline Advisers now owns 125,344 shares of the company’s stock worth $3,630,000 after acquiring an additional 572 shares in the last quarter. 38.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on AI shares. StockNews.com raised shares of C3.ai to a “sell” rating in a research report on Tuesday, November 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of C3.ai in a report on Thursday, September 5th. Oppenheimer reissued an “outperform” rating and set a $40.00 price objective on shares of C3.ai in a report on Thursday, September 5th. Piper Sandler Companies restated a “neutral” rating and issued a $24.00 target price on shares of C3.ai in a research note on Thursday, September 5th. Finally, Piper Sandler lowered their price target on C3.ai from $29.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, C3.ai currently has a consensus rating of “Hold” and a consensus target price of $27.70.

C3.ai Stock Up 24.5 %

C3.ai stock opened at $33.03 on Wednesday. C3.ai, Inc. has a 52 week low of $18.85 and a 52 week high of $38.30. The firm has a market cap of $4.20 billion, a price-to-earnings ratio of -14.49 and a beta of 1.80. The business’s 50-day moving average price is $25.03 and its 200 day moving average price is $26.04.

C3.ai (NYSE:AI) last released its quarterly earnings data on Wednesday, September 4th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.08. The company had revenue of $87.21 million during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the company earned ($0.56) earnings per share. Equities analysts expect that C3.ai, Inc. will post -2.31 EPS for the current year.

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.