C3.ai, Inc. (NYSE:AI) Stock Position Lifted by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale boosted its stake in shares of C3.ai, Inc. (NYSE:AI) by 229.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,250 shares of the company’s stock after purchasing an additional 2,264 shares during the period. DekaBank Deutsche Girozentrale’s holdings in C3.ai were worth $98,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in 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 acquiring an additional 659,986 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in C3.ai in the fourth quarter valued at approximately $25,630,000. Arkadios Wealth Advisors lifted its stake in C3.ai by 68.5% in the fourth 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 during the last quarter. Fort Pitt Capital Group LLC acquired a new stake in C3.ai in the third quarter valued at approximately $204,000. Finally, Raymond James & Associates lifted its stake in C3.ai by 148.3% in the third quarter. Raymond James & Associates now owns 158,943 shares of the company’s stock valued at $4,056,000 after acquiring an additional 94,932 shares during the last quarter. 38.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Piper Sandler lifted their target price on shares of C3.ai from $27.00 to $33.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. Canaccord Genuity Group boosted their price objective on shares of C3.ai from $27.00 to $31.00 and gave the stock a “hold” rating in a research note on Thursday, February 29th. Wedbush reduced their price objective 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. Finally, 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. Three analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, C3.ai presently has a consensus rating of “Hold” and an average price target of $29.91.

C3.ai Price Performance

NYSE:AI opened at $20.60 on Thursday. The stock has a market cap of $2.51 billion, a P/E ratio of -8.84 and a beta of 1.70. C3.ai, Inc. has a one year low of $16.79 and a one year high of $48.87. The company has a fifty day moving average price of $27.97 and a 200 day moving average price of $27.44.

C3.ai (NYSE:AI) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.73) by $0.13. The firm had revenue of $78.40 million for the quarter, compared to analyst estimates of $75.92 million. C3.ai had a negative net margin of 95.21% and a negative return on equity of 29.60%. As a group, equities research analysts anticipate 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.