Strategic Planning Group LLC Increases Holdings in C3.ai, Inc. (NYSE:AI)

Strategic Planning Group LLC raised its stake in shares of C3.ai, Inc. (NYSE:AI) by 31.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,001 shares of the company’s stock after buying an additional 10,264 shares during the quarter. Strategic Planning Group LLC’s holdings in C3.ai were worth $1,164,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Global Assets Advisory LLC raised its stake in C3.ai by 2,547.8% during the first quarter. Global Assets Advisory LLC now owns 896,676 shares of the company’s stock valued at $24,273,000 after buying an additional 862,811 shares during the last quarter. Optimum Investment Advisors raised its stake in C3.ai by 188.7% during the first quarter. Optimum Investment Advisors now owns 8,568 shares of the company’s stock valued at $232,000 after buying an additional 5,600 shares during the last quarter. Banque Cantonale Vaudoise raised its stake in C3.ai by 283.5% during the first quarter. Banque Cantonale Vaudoise now owns 12,183 shares of the company’s stock valued at $329,000 after buying an additional 9,006 shares during the last quarter. EWG Elevate Inc. raised its stake in C3.ai by 7.5% during the first quarter. EWG Elevate Inc. now owns 9,538 shares of the company’s stock valued at $258,000 after buying an additional 662 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its stake in C3.ai by 60.6% during the first quarter. Los Angeles Capital Management LLC now owns 19,585 shares of the company’s stock valued at $530,000 after buying an additional 7,392 shares during the last quarter. Hedge funds and other institutional investors own 38.96% of the company’s stock.

Wall Street Analysts Forecast Growth

AI has been the subject of a number of research analyst reports. Northland Capmk raised C3.ai from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 30th. Bank of America lifted their target price on C3.ai from $18.00 to $20.00 and gave the stock an “underperform” rating in a report on Thursday, February 29th. Northland Securities raised C3.ai from a “market perform” rating to an “outperform” rating and set a $35.00 target price for the company in a report on Thursday, May 30th. Morgan Stanley lifted their target price on C3.ai from $21.00 to $23.00 and gave the stock an “underweight” rating in a report on Thursday, May 30th. Finally, Wedbush reissued an “outperform” rating and issued a $40.00 target price on shares of C3.ai in a report on Wednesday, May 29th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $31.30.

C3.ai Price Performance

Shares of AI opened at $27.45 on Tuesday. C3.ai, Inc. has a one year low of $20.23 and a one year high of $44.90. The firm has a market capitalization of $3.35 billion, a P/E ratio of -11.86 and a beta of 1.84. The business has a fifty day moving average of $25.81 and a 200 day moving average of $27.15.

C3.ai (NYSE:AI) last released its earnings results on Wednesday, May 29th. The company reported ($0.59) earnings per share for the quarter, beating the consensus estimate of ($0.77) by $0.18. The company had revenue of $86.59 million for the quarter, compared to the consensus estimate of $84.45 million. C3.ai had a negative return on equity of 30.95% and a negative net margin of 93.36%. Analysts expect that C3.ai, Inc. will post -2.35 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.