Nisa Investment Advisors LLC Has $577,000 Stake in C3.ai, Inc. (NYSE:AI)

Nisa Investment Advisors LLC trimmed its position in C3.ai, Inc. (NYSE:AI) by 5.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,088 shares of the company’s stock after selling 1,090 shares during the quarter. Nisa Investment Advisors LLC’s holdings in C3.ai were worth $577,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Armstrong Advisory Group Inc. raised its stake in shares of C3.ai by 375.7% in the third quarter. Armstrong Advisory Group Inc. now owns 999 shares of the company’s stock valued at $25,000 after purchasing an additional 789 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in C3.ai during the third quarter worth $25,000. Lazard Asset Management LLC raised its stake in C3.ai by 117.7% during the third quarter. Lazard Asset Management LLC now owns 986 shares of the company’s stock worth $25,000 after acquiring an additional 533 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in C3.ai during the first quarter worth $25,000. Finally, Point72 Hong Kong Ltd acquired a new position in C3.ai during the second quarter worth $25,000. 38.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AI has been the subject of several recent analyst reports. Bank of America increased their price objective on C3.ai from $18.00 to $20.00 and gave the stock an “underperform” rating in a research note on Thursday, February 29th. Canaccord Genuity Group increased their price objective on C3.ai from $27.00 to $31.00 and gave the stock a “hold” rating in a research note on Thursday, February 29th. Wedbush dropped their price objective on 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, Piper Sandler increased their price objective on C3.ai from $27.00 to $33.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, C3.ai presently has a consensus rating of “Hold” and a consensus target price of $29.91.

C3.ai Stock Performance

Shares of AI stock opened at $20.60 on Thursday. The stock’s fifty day moving average is $27.97 and its 200-day moving average is $27.44. The stock has a market capitalization of $2.51 billion, a PE ratio of -8.84 and a beta of 1.70. C3.ai, Inc. has a 52 week low of $16.79 and a 52 week high of $48.87.

C3.ai (NYSE:AI) last announced its earnings results on Wednesday, February 28th. The company reported ($0.60) EPS for the quarter, topping the consensus estimate of ($0.73) by $0.13. The company had revenue of $78.40 million for the quarter, compared to analysts’ expectations of $75.92 million. C3.ai had a negative return on equity of 29.60% and a negative net margin of 95.21%. As a group, analysts forecast that C3.ai, Inc. will post -2.48 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.