Mission Wealth Management LP Reduces Stock Position in C3.ai, Inc. (NYSE:AI)

Mission Wealth Management LP decreased its holdings in C3.ai, Inc. (NYSE:AI) by 8.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,475 shares of the company’s stock after selling 1,500 shares during the period. Mission Wealth Management LP’s holdings in C3.ai were worth $444,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of C3.ai by 6.7% in the third 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 during the period. International Assets Investment Management LLC purchased a new stake in C3.ai during the fourth quarter worth $25,630,000. Arkadios Wealth Advisors boosted its position in C3.ai by 68.5% during the 4th quarter. Arkadios Wealth Advisors now owns 20,744 shares of the company’s stock valued at $596,000 after acquiring an additional 8,436 shares in the last quarter. Fort Pitt Capital Group LLC purchased a new position in shares of C3.ai in the 3rd quarter valued at $204,000. Finally, Raymond James & Associates raised its position in shares of C3.ai by 148.3% in the 3rd quarter. Raymond James & Associates now owns 158,943 shares of the company’s stock worth $4,056,000 after acquiring an additional 94,932 shares in the last quarter. 38.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AI. Wedbush dropped their price objective on C3.ai from $42.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, February 29th. Piper Sandler raised their price target on shares of C3.ai from $27.00 to $33.00 and gave the company a “neutral” rating in a report on Monday, March 4th. Bank of America boosted their price objective on shares of C3.ai from $18.00 to $20.00 and gave the stock an “underperform” rating in a research note on Thursday, February 29th. Finally, Canaccord Genuity Group raised their target price on shares of C3.ai from $27.00 to $31.00 and gave the company a “hold” rating in a research note on Thursday, February 29th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, C3.ai has an average rating of “Hold” and a consensus target price of $31.50.

C3.ai Trading Up 3.9 %

Shares of NYSE AI opened at $24.05 on Friday. The company has a 50 day simple moving average of $26.57 and a two-hundred day simple moving average of $27.20. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of -10.32 and a beta of 1.74. C3.ai, Inc. has a 12 month low of $17.15 and a 12 month high of $48.87.

C3.ai (NYSE:AI) last issued its earnings results on Wednesday, February 28th. The company reported ($0.60) earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $75.92 million. Analysts forecast 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.