C3.ai, Inc. (NYSE:AI) Stake Lifted by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D increased its position in shares of C3.ai, Inc. (NYSE:AI) by 6.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,345 shares of the company’s stock after purchasing an additional 4,854 shares during the period. State of New Jersey Common Pension Fund D owned 0.07% of C3.ai worth $2,422,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale bought a new position in shares of C3.ai during the 3rd quarter valued at about $25,000. B. Riley Asset Management LLC acquired a new position in C3.ai in the third quarter worth approximately $26,000. Orion Capital Management LLC acquired a new stake in shares of C3.ai during the third quarter worth $26,000. GPS Wealth Strategies Group LLC lifted its holdings in shares of C3.ai by 87.9% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 1,351 shares of the company’s stock valued at $39,000 after purchasing an additional 632 shares during the last quarter. Finally, Pittenger & Anderson Inc. acquired a new position in shares of C3.ai in the 4th quarter valued at $43,000. 38.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AI has been the subject of several recent analyst reports. 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 report on Thursday, February 29th. Piper Sandler lifted their price objective on shares of C3.ai from $27.00 to $33.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. Bank of America increased their target price on C3.ai from $18.00 to $20.00 and gave the company an “underperform” rating in a report on Thursday, February 29th. Finally, Canaccord Genuity Group lifted their price target on C3.ai from $27.00 to $31.00 and gave the company a “hold” rating in a report on Thursday, February 29th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $31.50.

C3.ai Trading Up 0.7 %

NYSE AI opened at $22.69 on Thursday. C3.ai, Inc. has a 1-year low of $16.79 and a 1-year high of $48.87. The firm’s fifty day simple moving average is $26.68 and its 200-day simple moving average is $27.24. The company has a market capitalization of $2.77 billion, a PE ratio of -9.74 and a beta of 1.70.

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