GPS Wealth Strategies Group LLC Raises Stock Position in C3.ai, Inc. (NYSE:AI)

GPS Wealth Strategies Group LLC increased its position in shares of C3.ai, Inc. (NYSE:AIFree Report) by 87.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,351 shares of the company’s stock after purchasing an additional 632 shares during the period. GPS Wealth Strategies Group LLC’s holdings in C3.ai were worth $39,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in 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 purchasing an additional 659,986 shares in the last quarter. BlackRock Inc. lifted its position in shares of C3.ai by 3.8% in the 3rd quarter. BlackRock Inc. now owns 5,717,608 shares of the company’s stock worth $71,470,000 after purchasing an additional 208,386 shares during the period. Morgan Stanley boosted its stake in shares of C3.ai by 213.5% during the third quarter. Morgan Stanley now owns 4,112,560 shares of the company’s stock valued at $104,953,000 after purchasing an additional 2,800,813 shares in the last quarter. Renaissance Technologies LLC increased its holdings in C3.ai by 39.3% during the first quarter. Renaissance Technologies LLC now owns 2,412,200 shares of the company’s stock valued at $54,757,000 after buying an additional 680,700 shares during the period. Finally, State Street Corp lifted its stake in shares of C3.ai by 0.7% during the 2nd quarter. State Street Corp now owns 1,722,445 shares of the company’s stock worth $62,749,000 after purchasing an additional 12,402 shares during the last quarter. 38.96% of the stock is owned by hedge funds and other institutional investors.

C3.ai Stock Performance

Shares of AI stock opened at $27.82 on Monday. C3.ai, Inc. has a fifty-two week low of $16.79 and a fifty-two week high of $48.87. The firm has a market capitalization of $3.40 billion, a P/E ratio of -11.94 and a beta of 1.77. The stock’s fifty day moving average is $28.17 and its two-hundred day moving average is $27.66.

C3.ai (NYSE:AIGet Free Report) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.60) earnings per share for the quarter, topping 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 firm had revenue of $78.40 million for the quarter, compared to the consensus estimate of $75.92 million. On average, equities analysts forecast that C3.ai, Inc. will post -2.48 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on AI shares. Canaccord Genuity Group raised their price target on shares of C3.ai from $27.00 to $31.00 and gave the stock a “hold” rating in a report on Thursday, February 29th. DA Davidson dropped their price objective on shares of C3.ai from $30.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, December 7th. Wedbush decreased their target price on shares of C3.ai from $42.00 to $35.00 and set an “overweight” rating for the company in a research note on Thursday, February 29th. Piper Sandler raised their target price on C3.ai from $27.00 to $33.00 and gave the company a “neutral” rating in a research report on Monday, March 4th. Finally, Bank of America increased their price target on C3.ai from $18.00 to $20.00 and gave the stock an “underperform” rating in a research report on Thursday, February 29th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $29.91.

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C3.ai Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for C3.ai (NYSE:AI)

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