Daiwa Securities Group Inc. Buys 811 Shares of C3.ai, Inc. (NYSE:AI)

Daiwa Securities Group Inc. increased its stake in C3.ai, Inc. (NYSE:AI) by 2.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,478 shares of the company’s stock after acquiring an additional 811 shares during the quarter. Daiwa Securities Group Inc.’s holdings in C3.ai were worth $818,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in C3.ai by 6.7% during the third quarter. Vanguard Group Inc. now owns 10,477,374 shares of the company’s stock worth $267,383,000 after buying an additional 659,986 shares during the last quarter. International Assets Investment Management LLC purchased a new position in C3.ai during the fourth quarter worth about $25,630,000. Arkadios Wealth Advisors boosted its holdings in C3.ai by 68.5% during the fourth quarter. Arkadios Wealth Advisors now owns 20,744 shares of the company’s stock worth $596,000 after purchasing an additional 8,436 shares during the last quarter. Fort Pitt Capital Group LLC purchased a new position in C3.ai during the third quarter worth about $204,000. Finally, Raymond James & Associates boosted its holdings in C3.ai by 148.3% during the third quarter. Raymond James & Associates now owns 158,943 shares of the company’s stock worth $4,056,000 after purchasing an additional 94,932 shares during the last quarter. Institutional investors own 38.96% of the company’s stock.

Analyst Ratings Changes

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

C3.ai Stock Down 0.8 %

NYSE AI opened at $22.17 on Friday. The company has a market cap of $2.71 billion, a PE ratio of -9.52 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. The firm’s 50-day simple moving average is $27.08 and its two-hundred day simple moving average is $27.31.

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

C3.ai Company 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.