KG&L Capital Management LLC Purchases 5,520 Shares of C3.ai, Inc. (NYSE:AI)

KG&L Capital Management LLC raised its position in C3.ai, Inc. (NYSE:AI) by 34.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,468 shares of the company’s stock after acquiring an additional 5,520 shares during the quarter. KG&L Capital Management LLC’s holdings in C3.ai were worth $520,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its holdings in C3.ai by 11.7% in the first quarter. Principal Financial Group Inc. now owns 10,703 shares of the company’s stock valued at $290,000 after acquiring an additional 1,119 shares during the period. Global Assets Advisory LLC bought a new position in C3.ai in the third quarter valued at about $743,000. International Assets Investment Management LLC bought a new position in C3.ai in the third quarter valued at about $10,560,000. Susquehanna Fundamental Investments LLC bought a new position in C3.ai in the second quarter valued at about $3,465,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in C3.ai by 4,860.6% in the first quarter. EverSource Wealth Advisors LLC now owns 31,946 shares of the company’s stock valued at $865,000 after acquiring an additional 31,302 shares during the period. Institutional investors own 38.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on AI shares. Oppenheimer reaffirmed an “outperform” rating and issued a $40.00 price objective on shares of C3.ai in a research note on Thursday, September 5th. Bank of America decreased their price objective on C3.ai from $24.00 to $20.00 and set an “underperform” rating on the stock in a research note on Thursday, September 5th. DA Davidson decreased their price objective on C3.ai from $30.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Morgan Stanley decreased their price objective on C3.ai from $23.00 to $21.00 and set an “underweight” rating on the stock in a research note on Thursday, September 5th. Finally, Canaccord Genuity Group decreased their price objective on C3.ai from $30.00 to $23.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $27.70.

C3.ai Price Performance

NYSE AI opened at $25.03 on Monday. The stock has a market capitalization of $3.18 billion, a PE ratio of -10.98 and a beta of 1.80. The business has a 50 day simple moving average of $24.12 and a two-hundred day simple moving average of $25.68. C3.ai, Inc. has a 1-year low of $18.85 and a 1-year high of $38.30.

C3.ai (NYSE:AI) last released its quarterly earnings results 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. The business had revenue of $87.21 million during the quarter, compared to analysts’ expectations of $86.94 million. C3.ai had a negative return on equity of 31.28% and a negative net margin of 85.47%. The firm’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.56) EPS. On average, analysts anticipate that C3.ai, Inc. will post -2.31 EPS 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.