LGT Group Foundation Makes New Investment in C3.ai, Inc. (NYSE:AI)

LGT Group Foundation purchased a new stake in shares of C3.ai, Inc. (NYSE:AI) during the 2nd quarter, HoldingsChannel reports. The fund purchased 49,200 shares of the company’s stock, valued at approximately $1,425,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. ICA Group Wealth Management LLC bought a new stake in shares of C3.ai in the 4th quarter worth approximately $29,000. Toth Financial Advisory Corp increased its holdings in shares of C3.ai by 900.0% in the first quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock valued at $27,000 after buying an additional 900 shares in the last quarter. Hobbs Group Advisors LLC bought a new position in shares of C3.ai in the second quarter valued at $29,000. Unique Wealth Strategies LLC acquired a new stake in shares of C3.ai during the 2nd quarter valued at $28,000. Finally, Blue Trust Inc. boosted its stake in shares of C3.ai by 148.9% during the 2nd quarter. Blue Trust Inc. now owns 1,028 shares of the company’s stock worth $28,000 after acquiring an additional 615 shares in the last quarter. Institutional investors own 38.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on AI shares. JMP Securities reaffirmed a “market outperform” rating and set a $40.00 target price on shares of C3.ai in a report on Thursday, September 5th. Oppenheimer reaffirmed an “outperform” rating and set a $40.00 price objective on shares of C3.ai in a research note on Thursday, September 5th. Northland Capmk raised shares of C3.ai from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 30th. Needham & Company LLC restated a “hold” rating on shares of C3.ai in a research report on Thursday, September 5th. Finally, Piper Sandler Companies reaffirmed a “neutral” rating and issued a $24.00 price objective on shares of C3.ai in a research note on Thursday, September 5th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $27.70.

Insider Buying and Selling at C3.ai

In related news, CFO Hitesh Lath sold 3,005 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $27.56, for a total value of $82,817.80. Following the transaction, the chief financial officer now directly owns 7,390 shares of the company’s stock, valued at approximately $203,668.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 34.00% of the company’s stock.

C3.ai Stock Up 0.5 %

Shares of NYSE:AI opened at $21.40 on Tuesday. The firm has a fifty day moving average of $26.01 and a two-hundred day moving average of $26.60. C3.ai, Inc. has a 12-month low of $18.85 and a 12-month high of $38.30. The firm has a market capitalization of $2.67 billion, a P/E ratio of -9.15 and a beta of 1.81.

C3.ai (NYSE:AI) last issued its quarterly earnings data on Wednesday, September 4th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.08. C3.ai had a negative net margin of 85.47% and a negative return on equity of 31.28%. The firm had revenue of $87.21 million for the quarter, compared to analyst estimates of $86.94 million. During the same quarter last year, the firm earned ($0.56) earnings per share. The company’s revenue for the quarter was up 20.5% on a year-over-year basis. Equities research analysts expect that C3.ai, Inc. will post -2.35 earnings per share for the current fiscal year.

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.